Operates online bank
and mortgage companies.
1015 Windward Ridge Parkway
Alpharetta, GA 30005
CEO: Steven Herbert
Stock Symbol: NTBK
Founded in 1996, the NetBank, Inc. family of businesses provides
a broad line of financial products and services to retail and
commercial customers. It operates the online bank, NetBank, and
ranks as a top 30 U.S. mortgage lender through various mortgage
The company is organized around three
primary areas of operation:
- Financial Intermediary
- Transaction Processing
offers a broad line of banking, loan, investment and insurance
products for personal and small business consumers. The bank
operates without a branch network by doing business online and
has the country's second largest bank-operated ATM network. At
the end of 2006, NetBank reported 248,229 customers, down 20,000
from the previous year. Deposits were $2.6 billion.
NetBank Business Finance provides funding for business equipment leases
through a nationwide network of independent brokers.
NetBank Payment Systems offers end-to-end ATM services and merchant processing
solutions that allow businesses to clear check, debit, credit
and pre-paid transactions.
Market Street Mortgage is a retail residential conforming mortgage lender
that operates in the majority of states. Market Street Mortgage
has built a solid reputation in the communities it serves by
working closely with first-time and minority home buyers.
generates conforming residential mortgage loans through a nationwide
network of independent brokers and correspondent lenders. NetBank
Funding offers its customers a full line of products and an industry-leading
automated underwriting platform.
In 2006, the company had a poor financial
year and reported a net loss of $202 million. The company shut
down businesses including FTI/QuickPost; its RV, boat and aircraft
financing unit; its insurance operation; its auto lending unit;
and the consolidation of its indirect conforming mortgage regional
Updated April 9, 2007