Fremont Bank Expands Retail Mortgage Business to Southern California
New offices in Los Angeles and Orange Counties to add 20 or more positions
El Segundo, Calif. October 22, 2012 - Fremont Bank, one of California's leading community banks and premier residential lenders, announced today the opening of its new mortgage retail location in El Segundo. Based in the Bay Area, Fremont Bank continues to increase its presence and strengthen its mortgage lending business in communities across Southern California. The bank currently employs three retail loan officers regionally and plans to hire 15 to 17 more, plus additional operations staff, over the next 12 months.
Today's announcement follows the recent hire of Richard Thomas, a Southern California mortgage veteran, as Fremont Bank's first retail sales manager devoted exclusively to the regional market.
“Southern California is a big part of Fremont Bank's strategic vision for the future and offers tremendous opportunities for growth, ” said Thomas. “As one of California's top direct lenders, we have grown our presence locally for the last few years through our wholesale mortgage business. We believe it is the right time to add our retail mortgage component to offer more options for local residents and deepen our relationships with communities from Santa Barbara to San Diego.”
Thomas estimates Fremont Bank's Southern California retail operations will fund $600 to $700 million in loans annually-or approximately eight to 10 percent of the bank's total residential loan originations and funding.
In 2009, Fremont Bank opened its first Southern California office in Aliso Viejo, Calif., focusing on wholesale mortgage lending and recently added retail lending through the office. Developing its retail mortgage business is the next phase of the bank's strategic growth in mortgage lending, which will further solidify its position as a residential lender of first resort throughout California.
About Fremont Bank
Fremont Bank (www.fremontbank.com) is the leading full-service community bank in Northern California. Founded in 1964, Fremont Bank is one of the oldest independent family-owned and managed banks in the region and focuses on personalized service for individuals and businesses. It serves communities through 18 branches and seven additional ATMs throughout the Greater Bay Area. Exceptional client service is the cornerstone of Fremont Bank's business. Accommodation of customer needs in a friendly, personal atmosphere characterizes Fremont Bank's culture.