MORTGAGE BANKERS HOLDING CORP., DOING BUSINESS AS, NATIONAL INSTITUTE COMPANIES OF AMERICA, ANNOUNCES ACQUISITION OF CONTINUING EDUCATION Associates, Inc. (CEA)
PITTSBURGH, Mar 21, 2000 /PRNewswire via COMTEX/ -- Mortgage Bankers
Holding Corp. (OTC Bulletin Board: MBHC) 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
Companies of America
(C) 2000 PR Newswire. All rights reserved.
prnewswire.com
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CONTACT: Tizo Maduro, Investor Relations, 800-290-8935 or 716-256-6505,
ext. 219, or info@market-pulse.com, for Mortgage Bankers
Holding Corp.
WEB PAGE: nicoa.com
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