Under the terms of the deal, the company will provide electronic transaction processing services to the three banks, namely First New Mexico Bank, Valley Bank of Commerce and First State Bank. These services include debit card services, ATM driving, fraud protection and card production.
First New Mexico Bank has USD 322 million assets and operates six locations including 13 ATMs. Valley Bank of Commerce has USD1 million in assets, three locations and two ATMs. First State Bank has USD 231 million in assets and operates three locations and four ATMs.
Fifth Third Processing Solutions delivers payment transaction processing and acceptance services to create payment strategies for merchants, businesses, and financial institutions around the world. The company processes 29.4 billion ATMs and point of sale transactions and USD 381 billion in debit and credit card sales volume annually.
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