Greenville-based CertusBank has announced the sale of its mortgage and wealth management divisions.
Terms and closing dates for the deal have not been disclosed yet.
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John Poelker, chief executive officer of CertusBank, stated that CertusBank was "undoing structural and operational components of the company that are no longer consistent with our strategic transition toward a more traditional community banking business model."
The sale of these two units would better position the organization for ongoing improvement in financial performance, he added.
The bank announced that Atlanta’s AmeriSave Mortgage Corporation had issued a letter of intent to purchase the bank’s mortgage business.
It also received a letter of intent from Vincent Molinari, chief executive of Eximius Holdings of New York, to acquire the two corporate entities that together form its brokerage and investment advisory platform.
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By GlobalDataAccording to Emily Ledbetter, a CertusBank spokeswoman, the move would affect about 120 of the bank’s 530 employees.
However, John Poelker said in a statement that majority of the affected employees would transition employment to the acquiring companies.
