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Hough noted that overall, banks' earnings are down, and stockholder pressures for returns have resulted in "the worst price pressures in 30 years." Although he's seen some vendors pricing under cost, he emphasized value-added services.
"Some large institutions don't place any value on what we do; they just beat you up [on price]," Hough said. "The smaller banks appreciate us. Customer service is very important to them. We lost $370,000 in business to mergers last year, but savvy sales efforts resulted in replacing lost business and actually increased sales about five percent."
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