11:35 ETFirstrust Bank Enters New Strategic Partnership with MortgageCountry, LLC

, /PRNewswire/ -- Firstrust Bank recently announced a strategic partnership with MortgageCountry, LLC to manage key mortgage production functions, positioning the Bank's mortgage business for long-term sustainability and growth. Through this partnership, MortgageCountry will oversee end-to-end mortgage originations and provide strategic leadership. Mortgage loans will continue to be originated and closed under the Firstrust name, and Firstrust mortgage loan officers will remain Bank employees. As part of the transition, all mortgage originations will shift to the MortgageCountry technology platform. "Residential mortgages are an important product for our customers and central to our mission of fostering home ownership," said Tim Abell, CEO and President of Firstrust Bank. "Partnering with MortgageCountry positions us to grow thoughtfully, manage risk more effectively in cyclical markets, and enhance the experience we deliver to our customers." MortgageCountry, led by Ira Brownstein, has demonstrated a customer centric model that aligns with Firstrust's culture. They have demonstrated strong production quality and good organic growth. Brownstein brings more than 20 years of industry expertise and founded MortgageCountry in 2020 with mortgage warehouse financing provided by Firstrust Bank. "We are proud and humbled to partner with Firstrust Bank to support its continued commitment to home ownership," said Ira Brownstein, Founder & President of MortgageCountry. "Our team understands both the operational demands of mortgage production and the regulatory expectations. Together, we will focus on efficiency, quality, delivering a seamless customer experience, and growth." The target date to begin booking loans under the new operating model is March 1. About Firstrust Bank: Founded in 1934, with assets over $5 billion, Firstrust Bank is the region's largest family-owned financial institution, one of the region's largest and strongest full-service commercial banks, and one of the most consistently top-performing banks in the Nation. Founded by Samuel A. Green, who began the business in his mother's kitchen in South Philadelphia, Firstrust is currently in its third generation of family management, operating as Philadelphia's Hometown Bank® for more than 90 years. Firstrust offers a broad range of retail and commercial banking products and services to individuals, businesses, and institutions. In commercial banking, Firstrust provides a wide variety of solutions, including commercial real estate finance, business banking, asset-backed lending, and deposit and treasury management services. Firstrust meets the needs of its consumer customers by offering a full range of deposit, lending, and residential mortgage products. Firstrust is a Small Business Administration (SBA) Preferred Lender, is a Top Workplaces employer, the Official Bank of the Philadelphia Eagles and serves its customers through 18 branch banking offices located in Southeastern PA, Cherry Hill, NJ, and Towson, MD. For more information, visit firstrust.com or call 800-220-BANK. Member FDIC. About MortgageCountry: MortgageCountry, LLC is a direct lender built to reduce the cost of a mortgage through forward-thinking technology and a re-engineered mortgage process. It is continuously reshaping the mortgage landscape by delivering superior products, meaningful savings, and an unparalleled customer experience. Launched in 2020, MortgageCountry has a fully distributed business model attracting the most talented associates without geographic limitations. MortgageCountry is committed to supporting local communities through its philosophy: What is important to you is important to us. MortgageCountry is headquartered in Blue Bell, Pennsylvania, with a strong local presence, and national reach with licenses in 41 states + Washington, D.C. For more information, visit www.mortgagecountry.com. For additional licensing information, go to www.nmlsconsumeraccess.org. NMLS #1886361 and Equal Housing Lender. SOURCE Firstrust Bank