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House Financial Services Committee to hear originator oversight testimony

National Mortgage Professional
Jan 08, 2009

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.
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