Bank taps expert to lead new division
Primis Bank has launched a new warehouse lending division, bringing in seasoned industry leader Drey Roberts (pictured) to steer its expansion as president.
The timing of Primis’ expansion into the warehouse lending space aligns with expected growth in the mortgage market. Projections from Fannie Mae and Freddie Mac show rising mortgage volumes in the years ahead, creating a solid foundation for warehouse lending demand. Since Roberts joined in early October, his team has already secured over 40 new clients.
As of September 30, Primis Financial reported $4.0 billion in total assets, $2.9 billion in loans held for investment, and $3.3 billion in deposits.
“I believe we have positioned ourselves in a very good place in this important industry,” Primis Bank CEO Dennis Zember said.
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Roberts and his team bring years of experience from a regional bank in Texas, where he oversaw a successful warehouse lending operation with over $1 billion in monthly loan balances. He most recently served as senior vice president and national sales manager at Independent Financial. Prior to that, Roberts worked at various banks in the Dallas/Fort Worth Area, including Southwest Bank, EverBank, Flagstar Bank, and Countrywide Home Loans.
“I am very excited to have Drey and his team in our company, and I am inspired by their ambition and dedication to their long-time customers,” Zember said in a Press release. “Having met a dozen or so of their clients in person and seeing how fast we have on-boarded them from application to real funding, I am convinced that we can move the needle on profitability and operating results.”
“What stood out to me the most about Primis was how much executive leadership understands the values and risks of warehouse lending,” Roberts said. “The team at Primis has substantial experience and success in this industry, and their excitement and knowledge during our early conversations made it apparent that this partnership would be a successful one. Some of our best customers have met the executive team and understand that this is a bank that will partner with them for the long-term.”
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