Georgia industry appointments update - 9/29/2006

Sep 28, 2006

Gelt Holdings acquires Public Savings BankMortgagePress.comPrime commercial lending Gelt Holdings Inc. has acquired Public Savings Bank. Continuing to operate as a separate unit, Public Savings Bank will focus on conforming commercial loans and do business in the same states (Delaware, Florida, Maryland, New Jersey and Pennsylvania) as Gelt Holdings subsidiary Gelt Financial Corporation. Public Savings Bank will offer no-ratio loans, rehab loans and new construction loans. Jon Zeitz will lead the wholesale division. Gelt Financial Corporation's wholesale department will continue to service non-bankable borrowers. Gelt Holdings Inc. is the parent company of Southampton, Pa.-based commercial lender Gelt Financial Corporation. For more information, call (215) 357-4955 or visit www.geltfinancial.com. Public Savings Bank is based in Southampton, Pa. For more information, call (215) 322-7208 or visit www.publicsavings.com.

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Sep 28, 2006

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