On Thursday, August 18th, George Mason Mortgage’s parent company, Cardinal Financial, announced their intention to merge with United Bankshares, Inc. in mid-2017, pending regulatory and shareholder approval.
The George Mason Mortgage Executive Management Team couldn’t be more excited about the opportunity to work with United Bank and its experienced leadership team. GMM management will continue to operate business as usual, while growing the company with the backing of a $20 billion company. This merger opens up significant opportunities for GMM, its employees and customers.
According to Bob Brower, President and CEO of GMM, “For those of you that may not know, United Bank was the parent company of George Mason Mortgage for many years (prior to Cardinal Bank’s purchase of GMM in 2004). United was an incredible partner, the leadership that we worked with at that time is still in place today. United Bank has a thorough understanding of our model, its value and our brand. During that time as our parent company, United Bank was extremely supportive of GMM and did many things that created significant value. While GMM will continue to operate business as usual, our Executive Team is very excited about the additional tools and resources a company the size of United brings to the table.”
Jim Consagra, President and CEO of United Bank states, “We are very excited about your incredible mortgage company and it will be a critical part of our continued success. I really look forward to watching Bob Brower take us to new levels.”
Chris Bergstrom, President and CEO of Cardinal Bank adds, “Bob Brower will retain his position as the President and Chief Executive Officer of GMM by maintaining his responsibilities and authority. United Bank’s current mortgage operations will be combined into GMM. The combined companies will be run by Bob Brower. I think that says a lot about how United’s management feels about GMM. United’s management is excited about the opportunity to expand and enhance the delegated loan programs with GMM. United has a significantly larger footprint than Cardinal spanning West Virginia, Ohio, Pennsylvania, Maryland, Virginia and the District of Columbia.This provides opportunities for growth at GMM.”
This merger will be a positive transition for George Mason Mortgage, its employees and customers.