Banterra continues naming-rights agreement with SIU for five years
04/24/2024 | 10:00:00 | General
Expands the partnership to further support SIU and Saluki Athletics
MARION, Ill. — Banterra Bank, the region's largest locally-owned bank with locations in six states, announced a continued and expanded partnership with SIU and Saluki Athletics on Wednesday.
In 2019, Banterra entered a 10-year, multi-million-dollar naming rights agreement with SIU as part of the re-branding of SIU Arena to Banterra Center. Although the agreement gave Banterra the ability to opt-out of the partnership in year five, Banterra and SIU will continue the partnership for the next five years, with enhancements to the agreement.
The agreement, which offers up to $10 million for SIU, remains the largest corporate naming-rights agreement in SIU's more than 150-year history. It was also the first naming rights of the arena, a facility which celebrates its 60th birthday next season.
This partnership provides signage, advertising and promotional opportunities for Banterra with SIU, which includes Banterra Center, an ATM kiosk in SIU Student Center and other campus opportunities and affinity rights to a Banterra-SIU Saluki Visa Debit Card that is available with a Banterra-Saluki Student or Banterra-Saluki InterestPlus Checking Account. Customers with this card know that with every purchase they make, a portion of the bank's revenue from the transaction directly contributes to SIU.
The enhanced agreement includes Banterra's continued annual contribution of $50,000 to SIU-Banterra Scholarships, which goes directly to qualified students who are awarded within Banterra's midwestern footprint. Additionally, with the changed landscape for college athletics with the NCAA's adoption of a name, image and likeness (NIL) policy for athletes, Banterra's partnership will also contribute to these needs for Saluki Athletics. This important contribution will support NIL opportunities with Saluki student-athletes. As part of the NIL arrangement, select athletes will be utilized by Banterra to promote the bank brand as well as SIU and the Southern Illinois region, in order to further support SIU enrollment and the region's economy.
Outside of Banterra's financial commitment within the naming-rights agreement, the Southern-Illinois-based company will utilize additional marketing funds for the purchase of media to support the SIU-NIL arrangement.
"This enhanced and continued partnership represents Banterra's commitment to the success of not only SIU, but to our region," said Austin A. Lane, SIU chancellor. "We sincerely appreciate Banterra's generous financial commitment and overall support of the evolving and changing needs for the university. The partnership is a critical element to the success of our basketball programs, which is important to students, fans, and the university as whole."
For Banterra's President & CEO Jeff May, continuing the partnership with SIU was an easy decision, as well as ensuring that the agreement was enhanced to support the NIL needs for Saluki Athletics.
"Our support of SIU over the years, specifically the naming-rights agreement for Banterra Center, has not only brought our company tremendous brand value, but has been an important initiative to support our communities and region's economy," said May. "We also realized that with the NCAA's adoption of a NIL policy, it was imperative that we work as partners with Saluki Athletics to see how Banterra could support their needs and the success of SIU's basketball program."
"It would be easy for Banterra or any company to sign a naming-rights agreement, get their standard signage and promotion, and not further participate to support the university," said Tim Leonard, director of athletics for SIU. "But Banterra is a different type of company. They truly are a partner when it comes to promoting our athletic program and SIU, providing marketing support that promotes both education and enrollment as well as athletics. Their willingness to collaborate with us on agreement changes that would support our need for NIL and marketing SIU in general is truly appreciated."
Banterra Bank began as a single bank in Ridgway, Illinois in July of 1975. Today, Banterra has more than $3 billion in assets and is ranked in the Top Eight Percent of U.S. Charter Banks and Top Five Percent for Illinois Charter Banks by asset size. Banterra has 40 locations in Arizona, Illinois, Indiana, Kentucky, Missouri, and Utah, as well as a specialty lending division that serves customers nationwide and includes Aircraft Finance, Machine Tool Finance, and RV and Marine Lending. For more information, call 866-BANTERRA (226-8377) or go to www.banterra.bank.