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Article: Provident Bank.(Brief Article)
- Article from:
- National Mortgage News
- Article date:
- September 27, 1999
CopyrightCOPYRIGHT 1999 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Provident Bank, Cincinnati, has acquired Capstone Realty Advisors LLC, Cleveland, which originates commercial real estate loans for life insurance companies.
Terms of the deal were not disclosed.
Capstone has a $1.3 billion servicing portfolio and annual production in excess of $400 million. It will become a wholly owned subsidiary of Provident.
"This relationship with Provident will bring Capstone new tools for our customer base including construction lending, interim lending and access to the capital markets," said James F. Doyle, president of Capstone. The acquisition is the second major move by ...