GREAT FALLS, Va.--(BUSINESS WIRE)--Trustar Bank is delighted to announce that it has completed the sale of its interest in Trustar Mortgage, LLC, a wholly owned subsidiary of Trustar Bank, to Archer Mortgage Holding Company, LLC. Going forward, Trustar Mortgage, LLC will operate as Archer Mortgage, LLC.
The mortgage company will be led by Adam Newman. With over two decades of experience in the mortgage industry, Mr. Newman is well positioned to lead the company.
"We are excited to announce the sale of our mortgage subsidiary to Archer Mortgage. This strategic move allows Trustar Bank to focus on our core services while still providing portfolio mortgages to our valued customers. We are confident that Archer Mortgage, under the leadership of CEO Adam Newman, will bring new opportunities and take the mortgage company to new heights," commented Shaza Andersen, CEO of Trustar Bank.
"The acquisition of Trustar Bank's mortgage subsidiary is a significant milestone for Archer Mortgage. With my years of experience in the mortgage business, I am committed to driving growth and success for our company. We look forward to partnering with Trustar Bank and leveraging their expertise to deliver exceptional service and value to our clients," stated Adam Newman, CEO of Archer Mortgage.
About the Bank - Trustar Bank is a full-service bank offering comprehensive banking products and services to small- and medium-sized businesses and consumers. It is the first bank to be chartered and opened in Virginia in over a decade. For more information, please visit Trustar Bank online at trustarbank.com.