DALLAS--(BUSINESS WIRE)--MBI Financial, Inc. (OTCBB: MBIF), a national financial services holding company that is consolidating regional mortgage brokerage companies into MBI Mortgage, Inc., its wholly owned subsidiary and mortgage banking operation, today announced the appointment of Mr. Robert Currier to the position of Chief Financial Officer.
Commenting on the appointment, Patrick A. McGeeney, President and Chief Executive Officer of MBI Financial, Inc. stated, “It is with great pleasure that we welcome Bob Currier to the MBI team. Bob brings with him over 30 years of financial acumen and expertise focused primarily on emerging companies in both the private and public sectors. He began his career as a CPA in Kansas City with Ernst & Whinney in 1972, rising through the ranks of the organization. He achieved senior manager status and culminated his tenure as Vice Chairman of Ernst & Whinney’s Privately Owned and Emerging Business Group in 1987. Since 1987, Bob has held senior level accounting positions in a variety of emerging public and private organizations including Voluntary Hospitals of America, Inc., International Radiology Group, LLC, Realtec Real Estate Corporation, and Women’s Diagnostic of Texas. He has extensive knowledge of matters relating to the financial reporting of public companies, making him the ideal candidate for the position. As a new member of our senior management team, we look forward to the positive contributions he will make to our organization.”
“I am very excited about this opportunity,” stated Mr. Currier. “MBI has done an excellent job of creating a solid financial foundation on which to build, focusing its energy on its core competency of mortgage loan origination and mortgage banking. The company is seizing the opportunity to become a strong diversified financial services organization. With a mortgage brokerage consolidation strategy as a first step, I believe that now is a perfect time to be part of this group.”
Mr. Currier graduated with a B.B.A., Accounting from Washburn University in Topeka, Kansas. He is a CPA and a member of the American Institute of Certified Public Accountants.
About MBI Financial, Inc.
MBI Financial, Inc. is a national financial services holding company that is in the process of consolidating regional mortgage brokerage companies into its wholly owned subsidiary and mortgage banking operation, MBI Mortgage, Inc. The company’s strategy is to expand the acquired mortgage brokerage firms by setting up and receiving mortgage brokers’ loans into its mortgage banking operation and to also grow these businesses with proven marketing programs, better and faster loan approvals, and the introduction of new and expanded loan programs. The company believes that it can access untapped revenue potential within the mortgage origination process by creating significant cross selling opportunities and introducing a variety of financial services products at different levels of the mortgage origination and funding chain. Through initial acquisitions, MBI Mortgage, Inc. currently has thirteen locations with offices in Dallas TX, Austin TX, Houston TX, Conroe TX, San Antonio TX, El Paso TX, Flower Mound, TX, Bedford TX, Laredo TX, Palantine IL, San Diego CA, Anaheim CA, Miami, FL and is expected to be licensed to operate in twenty-four additional states by June 30, 2007. For additional information, please visit the company’s website at www.mbifinancial.com
This press release may contain statements deemed to be "forward-looking statements" within the meaning of Section 27A of the Securities Act or Section 21E of the Exchange Act. Any statements that are not statements of historical fact may be deemed forward-looking statements. Forward-looking statements are not meant to predict or guarantee actual results, performance, events, or circumstances and may not be realized because they are based upon our current projections, plans, objectives, beliefs, expectations, estimates, and assumptions and are subject to a number of risks and uncertainties, many of which are beyond our control. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Forward-looking statements may include, without limitation, statements concerning business, financial and growth strategies and objectives, revenues, costs and earnings projections, acquisitions, capital, liquidity, and assumptions relating to any of these statements. Factors that may influence forward-looking statements or cause actual results to differ materially from those described or anticipated by the forward-looking statements may include, without limitation:
|•changes in interest rates;|
|•the Company’s ability to get additional financing or arrange suitable warehouse loan facilities,|
|•the Company’s ability to find, integrate, and improve suitable acquisition companies;|
|•other federal and state laws and regulations;|
|•general economic conditions;|
|•competitive factors and pricing pressures;|
|•our dependence on key producers, and services of key personnel;|
|•risks associated with acquisitions;|
|•changes in income taxes;|
|•significant intangible assets; and|
|•our dependence on information processing systems and risk of errors or omissions.|
Because of the risks and uncertainties related to these factors and the forward-looking statements, readers are cautioned not to place undue reliance on the forward-looking statements. There can be no assurance that any events or results described in any forward-looking statement will actually occur or be achieved. We undertake no obligation to publicly revise the forward-looking statements to reflect events or circumstances that arise after the date hereof or to reflect the occurrence of unanticipated events or circumstances. Readers should carefully review the risk factors described above and in other documents filed by the Company with the SEC.