FREMONT, Calif., August 20, 2013 - Fremont Bank has been named the number one mid-tier bank in the United States according to American Banker magazine. This ranking demonstrates the progress the bank has made to become the Bay Area’s premier community bank.
“We have been privileged to serve our community for nearly 50 years. During that time we have remained focused on offering our clients exceptional value and service and strengthening our communities through generous philanthropic partnerships,” said Fremont Bank President Andy Mastorakis. “Our success and strength as a community bank is due to our clients’ confidence in the bank and its associates. Our core philosophy is that if we provide great service and value, our customers will not only be loyal but they will encourage their families and friends to bank with us. The American Banker recognition shows that our strategy is working.”
During the three-year review period used by American Banker, Fremont Bank has helped tens of thousands of homeowners purchase a home or refinance their loans into lower, more affordable payments. Fremont Bank also assisted more than 5,000 homeowners whose mortgages were “under water” by providing relief using the government’s Home Affordable Refinance Program (HARP).
The number of consumers and businesses who bank with Fremont Bank has grown 24% over this period of time. And, despite the economic downturn and the need for conservative underwriting practices, Fremont Bank expanded its commercial lending in each of these three years, lending a total of $740 million as part of its commitment to provide capital to local businesses. Service satisfaction scores among clients are among the highest in the industry.
Today’s announcement marks the latest distinction for Fremont Bank, which last month was named one of the “Top Corporate Philanthropists in the Greater Bay Area” by the San Francisco Business Times for the 10th straight year. Earlier this year, the bank was recognized for the third year in a row by the Bay Area News Group as a “Top Workplace,” and was also certified by the Bay Area Green Business Program for its commitment to long-term environmental sustainability.
About Fremont Bank
Fremont Bank (www.fremontbank.com) is a leading retail and commercial bank, California mortgage lender, award-winning top philanthropic business and consistently ranks in Bay Area News Group’s “Top Bay Area Workplaces.” Founded in 1964, Fremont Bank is one of the oldest independent family-owned and managed banks in the state and focuses on personalized service for clients. It has 18 branches across the counties of Alameda, Contra Costa, Santa Clara, San Francisco, and Monterey with loan production offices in Sacramento and Los Angeles counties. Find Fremont Bank on Facebook at www.fb.com/FremontBank and on Twitter at @FremontBank.