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Schwartz among the “Top Women in Florida Commercial Real Estate 2006”

National Mortgage Professional
Sep 08, 2006

American Home Mortgage to purchase Flower BankMortgagePress.comFlower Bank, American Home Mortgage, mergers and acquisitions American Home Mortgage Investment Corporation has entered into an agreement to purchase Flower Bank FSB from Umbrella Bancorp Inc. The purchase is subject to regulatory approval. American Home plans to purchase the single-office operation, which was estimated on June 30 to be worth $43.7 million in total assets, in order to gain a franchise through which it can offer its banking products to the general public. Once purchased, American Home plans to operate Flower Bank as a standalone unit, rather than assimilating it. Melville, N.Y.-based American Home Mortgage Investment Corporation is a mortgage real estate investment trust. For more information, call (877) 304-3100 or visit www.americanhm.com. Chicago-based Flower Bank FSB is a subsidiary of Umbrella Bancorp Inc. For more information, call (312) 706-0700 or visit www.flowerbank.com.
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