First National ATM Cashes Out With Sale to Paramount Management

Buyer adds 1,000 ATM locations with acquisition
Photograph: Shutterstock

Paramount Management Group has acquired First National ATM as it expands its ATM business, banking on the future of cash.

The sale of Amer-E-Com Digital Corp.’s First National ATM unit, based in New Port Richey, Florida, adds more than 1,000 ATMs to Paramount Management’s roster of ATM locations, the Lancaster, Pennsylvania-based company said. First National ATM’s workforce will continue to provide customer service for existing accounts, Paramount Management Group said.

With some consumers continuing to seek privacy in banking with cash, Paramount Management believes ATMs will be in demand for the foreseeable future, according to the company.

Other recent Paramount Management acquisitions include the the June 2021 purchase of B&B Financial Services, with about 1,500 ATMs, and the October 2020 purchase of First Regents Banc Services and Equipment of Tennessee, with more than 900 ATMs in 20 states.

The most recent transaction, announced Jan. 31, brings ATMs in 34 states and Washington, D.C., to Paramount Management. First National ATM is a full-service provider of ATMs with a variety of high-profile locations at convenience stores, grocery stores, restaurants, universities, hospitals and train stations throughout North America.

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