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July 2010 FOR IMMEDIATE RELEASE
DARIEN ROWAYTON BANK COMMITS $80+ MILLION Darien Rowayton Bank (DRB) recently announced its commitment to lend $80+ million to homeowners and small businesses in an effort to strengthen the flow of credit in the local community. “The financial crisis has negatively impacted the amount of credit available for homes and small businesses in our local community affecting housing values and sustainable economic activity,” said Albert Knotts, CEO of DRB. “In our market area, all home loans especially jumbo home loans are still difficult to come by. However, now that we have been privately recapitalized, we have the ability to offer home loans again up to $3 million and are flexible enough to serve self-employed clients and the small business community.” The average home price in Darien, Connecticut is upwards of $1 million, making jumbo loans important for the economic stability of the community. In addition to being able to offer home loans to clients once again, DRB has recently been approved to offer Small Business Administration (SBA) guaranteed loans. Robert Mantilia, Senior Vice President of DRB, said that they were looking for companies with a good business plan and quality management, or for companies that are looking to take their business to the next level of performance. “We started as a small business lender focusing on the small businesses in the community,” said Mantilia. We are now in a position to expand our portfolio of products to include SBA loans and structure transactions that otherwise may not have been approved,” said Mantilia. DRB is a privately-owned bank whose roots and foundation are built upon the principle of supporting self-employed clients, local businesses and community members. The Bank strives to provide the community with an exceptional combination of competitive banking services along with a name you can trust, operating under the motto that “Money grows best in local soil.” Mantilia notes that DRB’s strength is in its ability to really get to know its customer and their companies to better understand their financial needs. “Our strength is that we can work closely with the customer and understand their asset conversion cycle, their challenges, and structure a loan to a level of capitalization that is needed to achieve success,” said Mantilia. “We also will have the ability to stay with them through times of stress.” Since DRB is focusing more efforts on mortgage lending, they are in the process of expanding its strong mortgage lending capabilities. “We are an extremely well-capitalized bank in an entrepreneurial community that needs a strong credit provider, said Robert Kettenmann, President of DRB. “Our loan origination in 2010 has been robust.” Darien Rowayton Bank has two offices conveniently located in Darien and Rowayton, Connecticut and is a privately-owned and FDIC insured. Darien Rowayton Bank was first opened in 2006 and is now home to 23 employees with a strong client base growing every day. DRB includes services such as personal banking and loans, mortgage products, business banking and financial services to their customers. They work with realtors, borrowers, CPA’s, financial planners, attorneys and financial consultants to provide their clients with the best financial solutions available in today’s market. DRB is an Equal Housing Lender.
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Contact: Albert L. Knotts
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