PNB to provide Real Estate Owned properties on a bulk level
November 4, 2011 (Newswire) -
Contact: Barry Prickett
Phone 916 548 7103
Poonaka National Bank Enters REO Business.
PNB to provide Real Estate Owned properties on a bulk level.
Browning MT - Raphew T. Reed, Jr., Vice President of Investment Banking at Poonaka National Bank announced today that they will use their extensive banking relationships to provide REO product on a bulk level to their commercial accounts clients. Reed believes this will bolster Poonaka National Bank's already extensive investment product line. "We feel in order to continue to service our clients above and beyond the larger banks, we need to provide products that service the specific needs of our investment clients. This is something they want and we are ready to provide it."
Reed adds "Although we are a smaller bank, the returns we've seen thus far on bulk REO transactions have made the addition of our property disposition department a valuable asset to our investment line." Poonaka ('elk' in Blackfeet) National Bank is headquartered in Browning Montana.
Raphew T. Reed & Vice President Michael D. Boito are available for comment.