SNL Financial of Charlottesville, Va., said Thursday it hasacquired the interest rate products division of Datatrac Corp. ofMilwaukee.
|Datatrac's database comprises more than 10 years of history ofmore than 10 million rates and fees from more than 100,000depository locations, the companies said.
|The rate and fee information from more than 53,000 companiescovered by SNL will be integrated with the company's financialand branch and deposit data, demographics, news and analyticaltools, SNL said.
|“SNL is excited to provide our clients with yet another powerfultool for the in-depth analysis of banks and credit unions,” said John Montgomery, director ofSNL's Financial Institutions Group.
|“As the industry leader in collecting and distributing accurateand timely interest rate data, Datatrac provides financialinstitutions the information they need to stay competitive andinformed within their markets, making it a natural fit within SNL'scoverage of the banking sector,” Montgomery said.
|Datatrac said it will continue as a standalone company, usinginterest rate data now provided by SNL.
|“This partnership with SNL enables Datatrac Corp. to focus ondramatically expanding its marketing and consumer services,” saidDatatrac CEO Ken Wanek.
|Terms were not disclosed.
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