Generations Bancorp completes the purchase of Amerihome Mortgage CompanyMortgagePress.comGenerations Bancorp, Amerihome Mortgage Company, American Foundations MortgageBanc, Greg Kolton
Generations Bancorp Inc. has completed the purchase of
Brookfield-based Amerihome Mortgage Company LLC to create a
wholly-owned mortgage banking subsidiary, American Foundations
MortgageBanc Inc.
"American Foundations MortgageBanc will focus on finding
customers the right mortgage at the right price, while providing a
timely, painless mortgage process," said Greg Kolton, Generations
Bancorp chairman, president and CEO.
Nicholas J. DelTorto, Amerihome president and CEO, will serve as
president and CEO of American Foundations MortgageBanc. He said
Amerihome employees will continue in their current positions.
"Our experienced staff has the industry knowledge and the
technological capabilities to deliver a smooth mortgage process,"
DelTorto said. "And as part of Generations Bancorp, a strong and
solid bank holding company, we have access to more capital to
support continued growth and offer our customers greater long-term
stability."
Generations Bancorp is also the parent company of Foundations
Bank, Pewaukee, Wisconsin, where Kolton serves as president and
CEO. Said Kolton, "Like Foundations Bank, American Foundations
MortgageBanc takes pride in building long-term relationships
through a consultative approach."
The new mortgage banking subsidiary works with individuals as
well as real estate brokers, builders, contractors, CPAs and other
professionals. American Foundations MortgageBanc is headquartered
in Brookfield and conducts business in several states.
