VERNON, N.J.--(BUSINESS WIRE)--
Highlands Bancorp, Inc. (OTCBB:HSBK.OB) is pleased to announce that its wholly owned subsidiary, Highlands State Bank, has completed the purchase of Secure Lending Solutions, Inc., (SLS) after receiving the appropriate regulatory approvals. SLS, a New Jersey licensed mortgage banking company, will be operated as a wholly owned subsidiary of the bank, and continue to operate out of its office at 266 Harristown Road, Glen Rock, NJ. Michele Luff, the company’s co-founder and President will continue in that role as the company joins Highlands.
“Highlands’ strategic plan has been to offer excellent residential mortgage products to our customer base, and bringing SLS into our company enables us to provide the customers in our market area with competitive mortgage products delivered with the kind of service both we and our customers expect. SLS brings both the products and the seasoned mortgage staff that will enable the bank to continue our growth and improve our spread and fee income,” said George E. Irwin, CEO of Highlands State Bank.
SLS is a New Jersey mortgage banking company that was co-founded by Michele Luff, CMB, its current President and CEO. The company has developed a strong presence in Northern New Jersey and Southern New York State, and specializes in conventional 1-4 family mortgage lending that includes FHA, VA, and USDA Rural development loans. SLS also offers reverse mortgage products. According to Michele Luff, “Our affiliation with Highlands will allow us to greatly expand our capabilities, and we are excited to be a part of the Bank’s growth.”
Highlands State Bank is a $230 Million community bank headquartered in Vernon, NJ., with additional full service offices located in Sparta, Totowa, and later in 2014, Denville, NJ.
This news release contains certain forward-looking statements, either expressed or implied, which are provided to assist the reader in understanding anticipated future financial performance. These statements involve certain risks, uncertainties, estimates and assumptions made by management, which are subject to factors beyond the company’s control and could impede its ability to achieve these goals. These factors include general economic conditions, trends in interest rates, the ability of our borrowers to repay their loans, and results of regulatory exams, among other factors.
- Investment & Company Information
- wholly owned subsidiary
George E. Irwin, 973-764-3200