Presidential was one of the earliest banks to offer online account statements and then real time PC banking services, such as current balance look-up capability and transfers between accounts. Our unique online archive of historical account statements and check copies, followed later by deposit copies, goes back to the beginning of the availability of these documents online; they are never deleted from our website, providing customers with useful long-term reference information. Software for this service was developed in-house, and a patent was granted for this system.
Presidential fueled its growth and profitability by purchasing performing loans acquired from failed commercial banks and thrifts through the FDIC and the RTC. These purchases provided higher yielding portfolio lending opportunities than were available from new loan originations at the time.