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Established in 1994, BWC Mortgage Service is a direct mortgage lender approved with the Federal Housing Administration operating with over 100 mortgage professionals in 9 branch locations. BWC is a best of breed mortgage banking and brokerage company licensed in several states.
"The best companies capitalize on their strength to grow aggressively in downturns. We believe by joining forces with BWC Mortgage Services we will be able to offer competitive FHA, jumbo and conforming products with the benefit of in-house underwriting, document drawing and funding with great turn around times. The integrity of the two companies is a perfect fit," said Patrick J. Moty, President and CEO.
"Over the years, we have enjoyed an excellent business relationship with Bank of Commerce Holdings. The marketplace has shifted and this combination further positions the company to provide the best opportunities for our customers, mortgage professionals and business partners," said Scott Simonich President and CEO of BWC Mortgage Services.
The combination provides for a 51% equity stake by BOCH in BWC Mortgage Services. 51% of the earnings of the Company is payable to BOCH through quarterly dividends.
Bank of Commerce Holdings, with administrative offices in Redding, California is a financial service holding company that owns Redding Bank of Commerce(TM), Roseville Bank of Commerce(TM), and Bank of Commerce Mortgage(TM).
The Company is a federally insured California banking corporation and opened on October 22, 1982.
BOCH is a NASDAQ National Market listed stock. Please contact your local investment advisor for purchases and sales. Investment firms making a market in BOCH stock are:
Howe Barnes Hoefer & Arnett Investment Inc. /
John T. Cavender
555 Market Street
San Francisco, CA (800) 346-5544
Hill, Thompson, Magid & Co. Inc /
R.J. Dragani
15 Exchange Place, Suite 800
Jersey City, New Jersey 07030 (201) 369-2908
Keefe, Bruyette & Woods, Inc. /
Dave Bonaccorso
101 California Street, 37th Floor
San Francisco, CA 94105 (415) 591-5063
Sandler & O'Neil /Bryan Sullivan
919 Third Avenue, 6th Floor
New York, NY 10022 (888) 383-3112
Raymond James Financial/ Geoff Ball
1805 Hilltop Drive, Suite 106
Redding, CA (800) 926-5040
SOURCE Bank of Commerce Holdings
http://www.bankofcommerceholdings.com
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