Genesis Bank Announces Launch of Homeowners Association (“HOA”) Banking Division
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Dec 19, 2022--
Genesis Bank (“Genesis” or the “Bank”), announced today the formal launch of its Homeowners Association Banking division, which focuses on providing a full suite of banking products, services, and solutions that are tailored to meet the banking and operational needs of property management companies, homeowners associations, condo associations, as well as their boards of directors. Specifically, Genesis Bank’s HOA Banking division delivers a sophisticated leading technology platform of integrated online and mobile banking, treasury management, lockbox services, payment processing, relationship management, depository, and fraud protection solutions that are critical to support the operations, success, and growth of property management companies, HOAs, and condo associations, while also, importantly, providing their board members with the critical resources, tools, and consultation necessary to meet their oversight and governance duties and responsibilities.
Stephen H. Gordon, Founding Chairman and Chief Executive Officer of Genesis Bank, stated, “I’m pleased to announce the launch of Genesis Bank’s HOA Banking division. Through several decades of experience successfully founding, building, and operating multiple financial institutions with leading fiduciary, specialty, commercial, and income property banking divisions across Southern California, the collective Genesis team brings an extensive track record of serving property management companies, HOAs, and condo associations. Our veteran team of bankers are technologically equipped to seamlessly deliver our products, services, and solutions through our secure, intuitive, and efficient high-tech platform that is designed to meet the financial and operational needs of our clients. Additionally, the Genesis team brings the requisite skills and experience to serve as a consultative advisor to our property management, HOA, and condo association clients and board members, in order to enhance the level of operational efficiency, transparency, security, and oversight at the management and board levels.”
Genesis Bank’s HOA Banking division reports to Balaji Krishna, Executive Vice President – Head of Specialty Banking, who brings over 20 years of banking experience, including Fiduciary Banking (HOAs, property managers, title companies, escrow companies, Section 1031 exchange accommodators) and Specialty Banking (nonprofit organizations, law firms, CPA firms, municipal entities). Prior to joining Genesis, Mr. Krishna held various management positions at U.S. Bank, Opus Bank, Bank of America, and Commercial Capital Bank.
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 one of only two diverse, multi-racial MDIs 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, escrow, and Section 1031 exchange 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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20221219005159/en/
CONTACT: Will Han
Executive Vice President, Chief Financial Officer
Phone: 949-273-1226Balaji Krishna
Executive Vice President, Head of Specialty Banking
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY FINANCE BANKING SMALL BUSINESS PROFESSIONAL SERVICES REIT RESIDENTIAL BUILDING & REAL ESTATE
SOURCE: Genesis Bank
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PUB: 12/19/2022 08:30 AM/DISC: 12/19/2022 08:31 AM