Genesis Bank in Newport Beach, Calif., is making a bigger push into banking homeowners associations.
The $125 million-asset bank said in a press release that it has formed a HOA banking division to provide products and services to property management companies, homeowners and condo associations and their governing bodies.
Products include online and mobile banking, treasury management, lockbox services, payment processing and fraud protection.
“Our veteran team of bankers is technologically equipped to seamlessly deliver our products, services and solutions through our secure, intuitive and efficient high-tech platform,” Stephen Gordon, the bank’s chairman and CEO, said in the release.
Genesis “brings the requisite skills and experience to serve as a consultative adviser to our … clients and board members in order to enhance the level of operational efficiency, transparency, security and oversight at the management and board levels,” Gordon added.
Balaji Krishna, head of specialty banking, is responsible for the division.
In recent months, Genesis has created divisions to handle 1031 exchanges, entrepreneurs and escrow accounts.