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Trustar Bank Acquires Granite Mortgage

Navi Persaud
Nov 05, 2020
People shaking hands to celebrate an acquisition.

Trustar Bank acquired Granite Mortgage, LLC, securing a platform to launch a full-service mortgage business line and further expanding the bank's service offerings, according to a press release.

"Partnering with Trustar Bank is the next step in Granite’s growth process. As a wholly-owned subsidiary of Trustar Bank, Granite will be able to offer our loan officers the ability to provide the bank’s unique portfolio loans and expand its lending to new states. We are excited about the opportunity to offer additional loan options including Jumbo Loans, construction to perm financing and a true common-sense approach to Portfolio Lending. This new product line is in addition to our current offerings of conventional, FHA and VA loans,” said Gary Freedman, president and CEO of Fairfax, Virginia-based Granite Mortgage.

Granite Mortgage will be a wholly-owned subsidiary of Trustar Bank and Trustar Board of Director, Michale Rebibo will serve as chairman of the Trustar Mortgage Board.

"The dynamic partnership of Trustar Bank and Granite Mortgage, LLC will allow us to provide our customers with residential mortgage programs to meet their home buying and refinancing goals," said Rebibo.

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