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As part of its plan to extend its footprint into new markets, CIBM also looks to hire around 30 new mortgage loan officers and operations staff members. The company said the addition of the new team will expand its operations in Arizona, Connecticut, Florida, Massachusetts, New York, and Rhode Island. The onboarding costs of adding the team will be absorbed in the first half of 2023, with incremental earnings expected to impact performance for the remainder of 2023.
J. Brian Chaffin, CIBM Bank’s president and CEO, commented: “By combining the best practices from each group, effectively utilizing operating staff capacity, and maximizing efficiencies available through our newly implemented loan origination system, we expect to significantly enhance our mortgage business results going forward.”
“I am excited to join the mortgage division of CIBM Bank and am honored to be taking this step with the group of professionals who are joining me,” Binetti said. “Together, the combined strengths of our two teams will drive further growth and the future direction of the mortgage division.”
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