Tuesday March 21, 10:40 am Eastern Time
Company Press Release
Mortgage Bankers Holding Corp., Doing Business as, National Institute Companies of America, Announces Acquisition of Continuing Education Associates, Inc. (CEA)
PITTSBURGH, March 21 /PRNewswire/ -- Mortgage Bankers Holding Corp. (OTC Bulletin Board: MBHC - news) doing business as, National Institute Companies of America (``NICA'), announces the acquisition of Continuing Education Associates, Inc. (CEA).
Continuing Education Associates, Inc. (CEA) specializes in continuing education to estate and financial planning professionals, along with bank management and their key personnel. CEA provides services to those organizations that require their personnel to obtain certain continuing education credits as a condition of forward employment and/or to satisfy mandatory licensing requirements. This acquisition is strategic to NICA's expansion under the Glass Steagel Act as this division will be responsible for training and development of the NICA sales force as well as providing the mandatory C.E. credits for each state banking association, thereby expanding the Companies bank presence.
NICA is pleased to welcome Richard J. Hoinski who will remain as President and CEO of CEA, a wholly owned subsidiary of NICA, in addition to accepting appointment to Executive Vice President of the National Institute of Estate Planning, Inc. (NIEP) and NIEP Agency, Inc.
Mr. Hoinski has worked in the Insurance/Financial Industry for over 23 years. He is a member to the National Association of Life Underwriters, the American Society of CLU & ChFC's, and The Estate Planning Council of Greater Cleveland. He is also the President and founder of Continuing Education Associates, Inc. (CEA), an Ohio corporation formed in 1994 to serve the continuing education needs of financial service professionals. Currently, CEA is the endorsed provider of several Ohio life underwriter associations, including Cleveland and Cincinnati, instructing nearly 2000 life insurance and investment professionals.
NICA remains well ahead of schedule for the Form 10 filing, pending the release of the final independent audit. Management is confident that as these formal filings are released, shareholders will be pleased with the Company's performance and outlook.
NICA was founded on the strategy of maximizing revenues for Community Banks, on an equal if not superior, performance basis to the largest banks in the nation. The Company is structured to assist banks, bank holding companies and other financial institutions (brokers/dealers, S&Ls, accounting firms, etc.) in the planning, design and implementation of an insurance marketing program and financial planning profit center within the bank or entity. NICA is one of the largest providers of estate and financial planning products and services to the Community-Independent Banks in the United States.
The company welcomes comments and suggestions at corporate@nicoa.com.
Certain statements contained herein constitute forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and 21E of the Exchange Act of 1934. Such statements include, without limitation, statements regarding business and financing, business trends, and future operating revenues and expenses. Although the Company believes that the statements are reasonable, it can give no assurance that such expectations will prove to be correct. Investors are cautioned that any forward-looking statements made by the Company, or contained in this profile/research report, contain no guarantee of future performance, and that the actual result may differ materially from those set forth in the forward-looking statements. Difference in results can be caused by various factors including, but not limited to, the Company's ability to be able to successfully complete planned funding agreements, to successfully market its products in competitive industries or to effectively implement its business plan or strategies.
SOURCE Mortgage Bankers Holding Corp., doing business as, National Institute
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