March 30, 2012 > Fremont Bank residential lending reaches $3.9 Billion
Fremont Bank residential lending reaches $3.9 Billion
Submitted By Lee Dawson
Fremont Bank released its annual report March 22, which showed net income of $38.8 million in 2011 - a 186 percent increase over the previous year. The bank's profitability was bolstered by $3.9 billion in residential loan originations, growth in its mortgage servicing portfolio, lower loan charge-offs and improved operating margin.
"Fremont Bank continues to be one of the most financially sound banks on the West Coast," says Fremont Bank President Andy Mastorakis. "Our clients trust and choose to bank with us because of our enduring financial stability."
In addition to the strength of its financial performance, the quality of Fremont Bank's loan portfolio improved as well. Non-performing loans declined more than 38 percent from a year ago and the portfolio of foreclosed properties dropped by one-third, while loan loss reserves remained strong and capital ratios increased across the board.
For more information about Fremont Bank, visit www.fremontbank.com