Mortgage Bankers Holding Corp. Announces It Has Signed A Formal Letter Of Intent To Merge Financial Management International, Inc. Into Its Operations
CARNEGIE, Penn., April 2 /PRNewswire/ -- Mortgage Bankers Holding Corp. (OTC Bulletin Board: MBHC - news) announced today that it has signed a formal letter of intent to merge Financial Management International, Inc. (''FMI''), a Pittsburgh based financial services management advisory and consulting corporation, into its current operations. FMI's management and staff are drawn from a variety of sectors within the financial services industry including banking securities, insurance and employee benefits. Financial Management International, Inc. is recognized as a highly concentrated group of financial services experts both locally and nationally.
FMI is organized around three operating divisions: a Consulting Group, a Product Group which consists of an insurance agency, a Registered Investment Advisor, and an Investment and Merchant Banking Organization. FMI serves a wide variety of clients ranging from some of the largest financial and health care organizations to locally-owned manufacturing concerns.
According to Thomas J. Santone, J.D., Chairman of FMI, ''This merger allows FMI to enhance our capabilities and capacity as well as provides us access to the capital markets to better serve our institutional client base. The transaction enables FMI to accelerate our corporate strategy by several years, permitting us to focus upon the market rather building infrastructure.''
Mortgage Bankers Holding Corp.'s Chairman Raymond P. Sobieralski, stated, ''The addition of FMI to our family of companies strengthens the range of expertise from within related industries that we can now make available to our clients. FMI will help MBHC advance solid growth as well as enhance shareholder value through the exchange of mutually beneficial data and services. The synergy created by FMI and MBHC in this cooperative effort will promote continual development of competitive, multi-faceted, cross-selling of financial services that best benefit each customer's unique needs.''
Mortgage Bankers Holding Corp. is a diversified technology-based financial services company, which, through its subsidiaries, utilizes data transfer and exchange to offer a full spectrum of financial and asset management services and products.
SOURCE: Mortgage Bankers Holding Corp.
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