DOWNEY, Calif., Dec. 7, 2007 (PRIME NEWSWIRE) -- AmeriNational Community Services, Inc. recently announced the promotion of Michael Torres to president and chief operating officer. Most recently, Torres served as executive vice president and chief operating officer and was a member of the board of directors, a position which he will retain.
With more than 20 years of experience in the affordable housing industry, Torres brings to his new position a long history of managing financial services programs for numerous municipal clients. Torres will play a major factor in AmeriNational's strategic plan, which allows for accelerated projected growth over the next several years and expansion into new market areas.
AmeriNational's previous president, Adrienne Thorson, will remain chief executive officer. She will be more closely involved in the sales and contracts end of the business, and will continue to provide guidance in the strategic growth of the company.
"Mike is a significant contributor to the success of AmeriNational," said Thorson. "He has already been extensively involved in the leadership of AmeriNational. We are looking forward to Mike's additional contributions as president, and feel that this change will further our efforts to provide excellent service delivery on a timely basis for our clients," she added.
Tim O'Malley, senior vice president of sales and marketing, commented, "Mike's in-depth knowledge of the affordable housing industry is one of our company's key strengths. Many of our clients have dealt with Mike on a one-on-one basis. As a company we're focused on client-centricity, and he will help incorporate that philosophy into every aspect of our business."
Torres joined AmeriNational (then U.S. Escrow) in 1987 and was primarily responsible for the company's wage compliance monitoring services. He was successively promoted to financial services manager and then division manager.
Prior to joining AmeriNational, Torres served in the United States Marine Corps. Torres earned a bachelor of science degree in business administration with an emphasis in finance from the University of Phoenix.
About AmeriNational Community Services, Inc.
AmeriNational is a high-touch professional services firm with a strong background providing turnkey portfolio management services for housing agencies and municipal clients throughout the country. AmeriNational specializes in servicing loans made by cities, counties and other agencies under government-sponsored affordable housing programs. Other services include loan underwriting and document preparation, default management, funds disbursement, site inspections, tax credit monitoring and labor compliance monitoring. AmeriNational is a subsidiary of American Bank of St. Paul and has offices in Baltimore, Los Angeles, Tampa, North Liberty, Iowa and Albert Lea, Minnesota. For more information on AmeriNational, please visit www.amerinational.net.
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