Thursday May 6, 8:25 am Eastern Time
Company Press Release
SOURCE: Mortgage Bankers Holding Corp.
Mortgage Bankers Holding Corp. Announces
Resignation of Acting Chairman
PITTSBURGH, May 6 /PRNewswire/ -- Mortgage Bankers Holding Corp. (OTC Bulletin Board: MBHC - news)
today announced that acting Chairman James F. Carr has resigned, effective immediately.
''All of us who have worked with Jim want to thank him for his hard work and dedication,'' said Kevin P. Maloney,
president of MBHC, a Pittsburgh, Pennsylvania-based company which operates diverse financial services and
related businesses. Maloney added, ''We expect to name a new chairman soon.''
Mortgage Bankers Holding Corporation has a diverse set of business and assets, including:
-- National Institute Companies of America (NICA), is the endorsed
provider of estate and financial planning services and products for
the Independent Bankers Association of Texas, Kentucky and Colorado;
the Bankers Association of Nevada and Oklahoma; the Community Bankers
Association of California, Florida and Illinois; and the Independent
Community Bankers of Wisconsin.
-- Mortgage Bankers Service Corp. (MBSC) is a mortgage corporation
licensed in Pennsylvania, Ohio and West Virginia to provide mortgage
loans. MBSC typically brokers loans to investors before settlement.
In addition, MBHC has a number of assets, including 667,000 shares of Growth Fund Partners (GFP), recently
valued at $33 million by GFP. Growth Fund Partners is a private investment fund that owns various mining interests
and real estate in North and South America. The current book value of MBHC is approximately $1.43 per share.
SOURCE: Mortgage Bankers Holding Corp.
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