FORT ATKINSON, Wis., June 22, 2012 (GLOBE NEWSWIRE) -- RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (Nasdaq:TST), reported today that more than 28 percent of the nation's financial institutions in an industry-wide survey offer small dollar or direct deposit loans. These loans provide clients a less expensive and risky alternative to high-fee payday lenders while providing financial institutions additional revenue.

"We were pleasantly surprised at the high numbers from credit unions," said David Gwidt, director of sales and marketing. "We were also impressed with the potential for growth in this area by mainstream lenders."

Sixty percent of those institutions granting small-dollar loans were credit unions, the survey of 259 financial institutions revealed. Despite positive results from a two-year Federal Deposit and Insurance Corporation test program, fewer than one bank in nine, or only 12 percent of responding banks, offers the loan, the survey found.

Additional findings:

• More than a third of the institutions without plans to offer the loans – or 35.4 percent – said the market did not "demand this type of product" and another 34 percent felt the approach would not be profitable to them.
• Of institutions offering the program, more than half had been doing so for more than five years. Only 4.5 percent have started offering the loans in the last year.
• 12.97 percent of those not currently offering small dollar loans plan to explore the program within the next year.
• More than 67 percent of the institutions offering the loans did so in order to serve the "underbanked" lower-income clients more effectively. Another 21 percent said the service allowed them to increase revenues.
• Foot traffic and onsite advertising accounted for the vast bulk – or 89 percent – of customers seeking these loans.

For more detail on this survey, please contact the RateWatch Client Relations department.

About RateWatch

Since 1989, RateWatch has been providing financial institutions with a variety of tools to accurately assess their position within their marketplace. Providing competitive rate and fee data for deposit and loan products, clients across the country map out their position and confidently make pricing decisions to maximize profit potential. With additional products and services to analyze market share, product line offerings, and historical trends, competitive comparisons and self-analyses are well rounded. Owned by TheStreet, Inc., based in New York, NY, RateWatch headquarters are in Fort Atkinson, WI.

About TheStreet

TheStreet, Inc. is a leading digital financial media company that distributes its content through online, social media, tablet and mobile channels. The Company's network of brands include: TheStreet, RealMoney, RealMoney Pro, Stockpickr, Action Alerts PLUS, Options Profits, Chat on TheStreet, MainStreet and RateWatch. For more information on TheStreet's business, visit www.t.st. For financial and business news, actionable trading ideas, stock quotes and more, visit TheStreet.com via your web browser, follow TheStreet on Facebook and Twitter, visit TheStreet.mobi from your mobile device and access TheStreet through all major tablet platforms.

CONTACT: RateWatch Client Relations
         800.348.1831
         clientrelations@rate-watch.com
         www.rate-watch.com
         
         Thomas Etergino
         Executive Vice President, Chief Financial Officer
         TheStreet, Inc.
         212-321-5234
         ir@thestreet.com
         
         Erica Mannion
         Investor Relations
         Sapphire Investor Relations, LLC
         212-321-5234
         ir@thestreet.com