Market Overview

Terme Bancorp Relocates Executive Offices to Chicago's Financial District

Share:

SUMMIT, IL / ACCESSWIRE / November 3, 2014 / Terme Bancorp (OTC: TMEB), (“Terme”) a holding company specializing in money services and consumer behavior initiatives, today announced that the Company has relocated its executive offices to Chicago, IL.

Terme Bancorp's executive offices were previously located in Summit, IL where the Company will remain headquartered while its primary business operations will take place at its new office located at 318 West Adams Street, Suite 1801 in Chicago, IL. According to Terme's management, the move was executed to establish a presence in Chicago's financial district and encourage new business opportunities.

“We are pleased to announce that Terme has relocated its primary operations to downtown Chicago. Being centrally located in one of the nation's largest cities and financial markets will give the Company direct access to more business opportunities across all of our subsidiary companies and divisions including our money services and mortgage businesses as well as medical and health initiatives,” commented John G. Yedinak, CEO of Terme Bancorp.

Terme's core business is providing global electronic money services to consumers by offering general-purpose reloadable (GPR) cards that are sponsored by affinity groups. Terme Mortgage provides efficient financial solutions to consumers looking to purchase property or refinance their existing mortgages. The Company's newest subsidiary, Terme Medical Ventures was established to invest in various consumer-oriented medical initiatives including medical devices, health maintenance and health enhancement products.

“Additionally, Chicago possesses a tremendous pool of talent from which Terme can draw from as we grow and potentially hire new employees in the future,” concluded Mr. Yedinak.

About Terme Bancorp, Inc.

Terme Bancorp is aholding company that specializes in global electronic money services and its relationships to consumer behavior initiatives. The Company currently has three wholly-owned subsidiaries, Terme Capital, Inc., Terme Mortgage, Inc. and Terme Medical Ventures, Inc. For more information please visit: http://www.termebancorp.com/.

Safe Harbor Statement

This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:

888-959-7095
ir@sealpointconsulting.com

 

Source: Terme Bancorp, Inc.