Business
Capital City Bank Announces Strategic Alliance With BrandMortgage
TALLAHASSEE, Fla., Dec. 11, 2019 (GLOBE NEWSWIRE) -- Capital City Bank (CCB) today announced its entry into a definitive agreement with BrandMortgage, whereby
About this update from Capital City Bank Group
[{"type":"text","content":"TALLAHASSEE, Fla., Dec. 11, 2019 (GLOBE NEWSWIRE) -- Capital City Bank (CCB) today announced its entry into a definitive agreement with BrandMortgage, whereby CCB will acquire 51% ownership of BrandMortgage. This strategic alliance reflects a shared commitment by both companies to deliver the highest quality mortgage services and expertise to homebuyers throughout the Southeast. Following the closing, mortgage services will be offered under the name of Capital City Home Loans.\n\n \n \n \n \n \n \n \n \n \n \n \n William G Smith Jr. is Chairman, President and CEO of Capital City Bank Group.\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Greg Shumate is CEO and Managing Partner of BrandMortgage.\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Alex Koutouzis is President and Managing Partner of BrandMortgage.\n \n \n \n \n \n \n \n \n\n “We are pleased to welcome the BrandMortgage team to the Capital City Bank family,” said William G. Smith Jr., Capital City Bank Group Chairman, President and CEO. “We believe this transaction leverages our strengths as an established and profitable financial institution with a 125-year community banking tradition and BrandMortgage’s as an innovator and pacesetter in the mortgage lending industry, which will deliver enhanced value to our clients in both existing and new markets.” The alliance between Capital City Bank and BrandMortgage represents a combined 140 years in business and offers the advantage of expanded service areas, a wider array of products and options to meet the needs of homebuyers in all stages of life, and increased lending capacity through additional processing hubs and investors. Uniting the two companies’ footprints will add 21 mortgage production offices to Capital City Bank’s 57 full-service banking offices and will expand the availability of mortgage services throughout the Southeast. If the transaction had been completed in 2019, the mortgage volume of the combined operations would have been approximately triple CCB’s historical level. “Joining with an established financial institution like Capital City Bank, with their strong brand reputation and capital position, makes sense for a number of reasons,” said BrandMortgage CEO and Managing Partner Greg Shumate. “Not only do our companies share a vision and value system that prioritizes the client relationship and aims to deli...