SOUTH WINDSOR, Conn., April 11, 2013 (GLOBE NEWSWIRE) -- William H. W. Crawford, IV, President and Chief Executive Officer of Rockville Bank and Rockville Financial, Inc. (Nasdaq:RCKB), today announced that Brandon Lorey has joined the Company as Senior Vice President and Head of Consumer Lending.
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Lorey came to Rockville Bank in February with twenty years of experience in risk and financial management; product, sales and strategy development; and personnel management. Most recently, Lorey held the position of Chief Credit and Lending Officer for H&R Block Bank in Kansas City where he led the company's loan origination and credit administration. Specifically, Lorey managed the existing legacy portfolio left by prior management and he rebuilt it from a point of severe delinquency to an income producing segment of that bank. He also maintained H&R Block Bank's targeted quality and profitability for its $1.5 billion in retail assets.
In addition, Lorey held various roles on the retail side of Chevy Chase Bank, Federal Savings Bank in Maryland, including Vice President of risk, finance, operations and direct sales. While at Chevy Chase, he successfully led the Consumer Lending Division to improve revenue and profitability, lower attrition levels and reduced losses. Lorey was recruited away from Chevy Chase in 2006 to pursue other career opportunities.
At Rockville, Lorey will be responsible for developing and implementing a business plan to optimize mortgage opportunities for Rockville Bank that builds on the success of the past year.
In 2012, Rockville Bank's commitment to enhancing its mortgage business and developing this business line resulted in the Company's record annual residential mortgage originations of $294 million, a production increase of more than two times the prior year. This business line enhancement included the hiring of 12 mortgage loan officers in 2012, providing an opportunity not only for growth in originations but also the development of relationships with local realtors to increase purchase mortgage volume.
Rockville Bank recently launched an online and efficient mortgage loan application called MortgageBot to help the Bank add a new high-tech strategy to their mortgage banking operations. The Bank also looks forward to continuing to expand their mortgage banking business relative to its footprint and current branch structure so they can deliver the best customer experience for homeowners.
"In hiring Brandon, we found an industry leader and a respected consumer banking and mortgage professional who will help us grow our mortgage business and oversee our expanding operations," said Crawford. "Brandon's impressive resume, industry reputation and proven experience in consumer lending is a great asset to Rockville Bank and complements the dedicated efforts of our mortgage team that is taking our mortgage banking business to a new level."
"Rockville Bank's business strategy, particularly when it comes to consumer lending, coupled with the Company's reputation and continued outperformance of its peers, made joining the Rockville Team a great opportunity," said Lorey. "The Bank is enjoying tremendous momentum when it comes to mortgage banking and it is exciting to be part of a Bank that has made consumer lending a top priority. I look forward to building on this recent success in the Bank's current and expanding markets while working closely with the management team who have the reputation for taking a best-in-class approach to banking."
Lorey's team includes Peter McGoldrick, Vice President and Secondary Market Officer, and Jeff Lipes, Vice President and State Mortgage Sales Officer.
McGoldrick joined the Rockville Bank team as the Vice President of Secondary Marketing in December 2012. McGoldrick, a 22-year veteran in the finance industry, began his career in banking in Secondary Marketing. His recent professional roles include Project Manager/Business Intelligence managing GNMA Securities for Mortgage Services III, LLC; President for Resolute Services, Inc. providing Secondary Marketing solutions; and Vice President of Secondary Marketing for Waterfield Bank in Bethesda, Maryland.
Lipes, who holds the position of Vice President of Mortgage Sales, oversees the mortgage channel for Rockville Bank and maintains a strong reputation in the mortgage banking business in Connecticut. Prior to joining Rockville Bank in February 2012, Lipes led a mortgage banking company for 16 years that specialized in originating residential loans. Lipes is the past President of the Connecticut Mortgage Bankers Association.
Lorey reports directly to Marino J. Santarelli, Executive Vice President and Chief Operating Officer.
About Rockville Bank:
Rockville Bank is a 22-branch community bank serving Tolland, Hartford, and New London counties in Connecticut. It provides convenient banking for the residents and businesses of Colchester, Coventry, East Windsor, Ellington, Enfield, Glastonbury, Manchester, Rockville, Somers, South Glastonbury, South Windsor, Suffield, Vernon, West Hartford and is opened seven days a week in Tolland and its Big Y supermarket locations in Enfield and Manchester. The Bank opened a New Haven County Commercial Banking Office in Hamden, Conn. and recently opened its doors to their full-service Banking Center in West Hartford, Conn. For more information about Rockville Bank's products and services, call (860) 291-3600 or visit www.rockvillebank.com.
