Genesis Bank Announces Launch of Escrow Division

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Genesis Bank (“Genesis” or the “Bank”), announced today the launch of Genesis Bank Escrow, a new division of the Bank. Genesis Bank Escrow handles all aspects of commercial and commercial real estate-related escrow transactions, including compliance with local, state, and federal real estate guidelines, ensuring all buyer/seller conditions are satisfied, timely processing and filing of all relevant documentation, and maintaining custody and disbursement of escrow funds.

Stephen H. Gordon, Founding Chairman and Chief Executive Officer, stated, “I am excited to announce the launch of Genesis Bank Escrow and the hiring of Michelle Gregorian, Commercial Escrow Manager. Michelle brings over 30 years of multifamily and commercial escrow experience to Genesis Bank Escrow. Over multiple decades, our team has successfully built, acquired, and operated numerous leading commercial escrow companies across the Bank’s target markets of Los Angeles, Orange, Riverside, and San Bernardino Counties, California. Our extensive collective experience in the escrow business, through many cycles, has enabled us to successfully launch our escrow division with a highly skilled team of professionals and leading-edge technology. We look forward to offering this critically important and synergistic service to our clients and business partners in the community.”

Mr. Gordon concluded, “While market uncertainty is causing an increasing number of financial institutions to become internally focused as they reassess their legacy balance sheets, employee base, and product offerings, our commitment to providing needed financial products, services, and solutions to our commercial, commercial real estate, small business, fiduciary, and specialty banking clients, and to the communities we serve, could not be stronger.”

About Genesis Bank

Genesis Bank is a California state chartered commercial bank, organized by a group of highly experienced and successful bankers, investors, and business professionals. The Bank focuses on serving the financial needs of small to mid-sized businesses and owners, and investors in income-producing multifamily and commercial real estate located in the Bank’s Target Markets of Los Angeles, Orange, Riverside and San Bernardino Counties, California. Additionally, Genesis Bank is designated by the FDIC as a Minority Depository Institution (“MDI”), and is only the second diverse, multi-racial MDI in the U.S. The Bank is powered by GenTeck^SM, a groundbreaking combination of best-in-class technologies, which are tightly integrated to give clients a seamless, digital first, and transparent experience. The Bank’s products, services, and solutions primarily include traditional commercial business, Small Business Administration (SBA), income property, and owner-occupied commercial real estate loan and deposit products, as well as treasury management services and solutions. Genesis Bank is headquartered in Newport Beach, California, and can be found online at www.mygenesisbank.com. Genesis is an Equal Housing Lender and Member FDIC.