PremierWest Bancorp, the parent company of PremierWest Bank, has announced their selection of PHH Mortgage as a partner in mortgage services for the bank's customers. The partnership will ensure that Premier West maintains a competitive position at a par with other strong players in the mortgage industry. This will enable customers to apply for a loan on the Internet or telephone. Moreover, PHH Mortgage will service all loans, and the process promises to be more convenient to consumers. PremierWest Bancorp, headquartered in Medford, OR, is a financial services holding company and functions mainly through its subsidiary PremierWest Bank. PHH Mortgage is a leading outsourcing provider of mortgage services and a chief provider of private label loan servicing. PHH Mortgage managed to provide $41 billion in mortgage financing in 2006.
FNB appoints CMO
The First National Bank (FNB) of Pennsylvania has hired Susan B. Bergen-Painter as senior vice president and chief marketing officer. In the new position, Berger-Painter will manage development and direction of the bank's marketing initiatives in Pennsylvania, Florida, Tennessee, and Ohio. Bergen-Painter has more than 17 years of financial marketing experience, and she has been executive vice president of marketing for the First National Bank of Chester County. She is a certified financial marketing executive with expertise in strategic and marketing planning. FNB's company headquarters are in Hermitage, PA. The bank is a leading provider of banking, wealth management, and other financial services. The total assets of FNB were $6 billion on March 31, 2007.
Cowen Group hires new investment banking chief
Cowen Group, Inc., has hired Aaron C. Hill as head of Telecommunications Investment Banking. Hill brings with himself vast experience in over 50 investment banking transactions, including private placements, M&A, public offerings, and debt offerings. Before joining Cowen, he headed UBS's telecommunication department as managing director. Hill has also served as an associate at Wasserstein Perella & Co. and a summer associate at Drexel Burnham Lambert, Inc. Hill began his career as a financial analyst in the Mergers & Acquisitions Group at the First Boston Corporation. Cowen Group, Inc., provides investment banking services, equity research, mergers and acquisition advices, and other services—including healthcare—through its subsidiaries Cowen and Co., LLC, and Cowen International Limited.
West Coast Bank offers to insure money
West Coast Bank will collaborate with Loomis to reduce business cash-handling risks with the help of SafePoint. SafePoint is an on-site safe and cash-processing service that secures pickups and deposits. It insures money against robbery, external theft, flood, or fire as soon as it is deposited in a business's on-site safe. The system provides an all-inclusive audit trail and minimizes cash errors and loss exposure as a result of multiple recounts. West Coast Bancorp, a Northwestern bank holding company, is on Oregon Business Magazine's "100 Best Companies to Work For" list. The financial institution is worth $2.5 billion in assets and operates 60 offices in Oregon and Washington.
