Tiedemann builds niche in banking hardware

While banks specialize in money, a Nixa-based company has spent the past 12 years specializing in providing the equipment needed to take care of that money.

Tiedemann Bank Equipment, a sister company of Villa Ridge-based Tiedemann & Associates Inc., opened shop in Nixa in January 1997 and now provides all manner of equipment - including automated teller machines, safe-deposit boxes, access control and alarm systems and vaults - to banks in Missouri, Kansas, Oklahoma, northwest Arkansas and Illinois.

Tiedemann & Associates Inc. specializes in bank design and construction, and St. Louis businessman Joe Tiedemann is president and CEO of both operations, which in 2008 had combined revenues of $8 million.

Tiedemann Associates and Tiedemann Bank Equipment employ about 30 people, 20 of whom are in Nixa.

Spectrum of services

Tiedemann learned the business from his father, Leo, who built banks and later sold bank equipment for other corporations.

Joe Tiedemann said his company manufactures its own digital recording system and provides modular banking facilities, including those being used by Springfield First Community Bank while its permanent building is under construction on South Glenstone Avenue.

"We had it custom built," Tiedemann said of the startup bank's temporary facility.

Tiedemann also offers its bank customers a disaster contingency plan. In the event of a fire, tornado or other disaster, Tiedemann will provide a furnished modular with equipment within a short time frame. That plan was used in May 2003 by Springfield-based Great Southern Bank when its Stockton branch was hit by a tornado, Tiedemann said, noting that a temporary modular facility was up and running within two days.

Ken Johnston, Guaranty Bank's chief information officer and vice president of information systems, has used several of Tiedemann's services in the past four years, including security and fire alarms, data-cabling, ATMs and ATM services and equipment installation at new branches. He said the company's track record of meeting Guaranty Bank's needs has continued the business relationship.

"The fact that they are a local provider makes it even that much better," Johnston said. "We want to help support the local vendors who want to work with us."

Facilitating growth

Tiedemann said his company's biggest goal for 2009 is starting construction on a 14,000-square-foot office and warehouse near Lindbergh Road and State Highway CC in Nixa.

"We have preliminary drawings put together. We are tweaking those right now," he said, noting that a ground-breaking date hasn't been determined. Once it starts, however, he expects construction to take six months.

Tiedemann also wants to maximize the skills of his staff by increasing cross-training efforts.

"We have several different departments that we manage here. The more each department can help out the other, the more productive we are and the more valuable the employees become," he said.

Tiedemann said ATMs are one area of his business showing growth, both in sales and service.

"I think a lot of banks don't want to make a major expenditure for a new facility, but they don't want to sit idly and do nothing," he said.

"I think they're taking advantage of getting more exposure out there by placing more ATMs."

Darrin Yeary, one of Tiedemann's two Nixa account executives, noted that the company's name sometimes misleads potential customers into thinking the company only does business with banks.

"We also do commercial and residential alarm systems, access control, videos, security and all that stuff for homes and businesses," Yeary said. "We have actually been pushing more in those directions to grow our business."