April 9, 2008 > Fremont Bank is not affiliated with Fremont General Corporation
Fremont Bank is not affiliated with Fremont General Corporation
Submitted By Casey Boggs, Creative Brand Communications
Fremont Bank, a leading full-service community bank in Northern California would like to clarify many erroneous claims of being associated with the Brea, California-based Fremont General Corporation (NYSE: FMT) including a media segment that appeared on March 31 on CNN. Fremont Bank officially announces that it is in no way affiliated with affiliated Fremont Investment & Loan.
On Saturday, March 29, the Associated Press reported that the national real estate lender's wholly-owned banking unit, Fremont Investment & Loan ("FIL"), is undercapitalized by regulatory standards and has recently been given 60 days by federal and state banking regulators to raise new capital or sell the banking subsidiary.
Fremont Bank is a $2 billion commercial bank based in Fremont, California that prides itself in being a locally owned, community bank with a full range of products and services. The Bank continues to manage a significant volume of residential mortgage lending and its portfolio of mortgage loans consistently outperforms industry averages.
All questions or concerns regarding this matter can be directed to Gary DeLuca, Chief Marketing Officer at (510) 723-2300.