Broward Bank of Commerce has announced the launch of its Residential Lending Unit. “Finding the right home mortgage—whether for a new purchase or refinance—is an important decision, especially in today’s turbulent economic times. The launch of the new Residential Lending Unit reflects the Bank's mission to be responsive to our customers' needs and fits our vision for strategic growth," explained Keith Costello, chief executive officer, Broward Bank of Commerce.
At a time when many great community banks are failing, Broward Bank of Commerce is proud of its financial results and its expansion into residential lending. In operation for less than two years, Broward Bank of Commerce has grown to $77 million in assets, $63 million in deposits and $44 million in outstanding loans. Broward Bank of Commerce has no non-performing loans, and looks to the launch of its Residential Lending Unit to expand its business while maintaining its outstanding credit quality. Loan decisions are made locally and in a timely fashion.
One area the bank will specialize in is jumbo loans up to $2.5 million. Currently, the market is difficult for customers to obtain jumbo-sized mortgages. Contrary to most banks, all of the Broward Bank of Commerce’s jumbo loans will be held in the bank’s own portfolio.
Much of the Bank’s success can be attributed to its cutting-edge technology and a commitment to outstanding customer service and personal attention. These same qualities will benefit our residential lending customers who will experience open and frequent communication throughout the entire loan process and a commitment to find the best product to fit the needs of the customers. The bank offers a variety of mortgage products at competitive fixed rates.
Veteran mortgage banker, Regina Blanz, has been named senior vice president and will launch the new unit. She brings a wealth of residential lending experience to the Broward Bank of Commerce. Her background includes executive positions with Minto Communities and Pointe Federal Savings Bank.
For more information, visit www.browardbankofcommerce.com.
