The Bank Slate


CIBM Bank in Ill. expanding mortgage ops to six states

CIB Marine Bancshares in Champaign, Ill., plans to expand its mortgage lending operations into six states


The parent of the $755 million-asset CIBM Bank said that it plans to hire about 30 loan officers as part of an expansion into Arizona, Connecticut, Florida, New York, Massachusetts and Rhode Island.


The push is expected to more than double the bank’s mortgage originations.


Frank Binetti, who recently served as CIBM’s director of mortgage operations, is overseeing the expansion, including recruiting and sales management.


“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,” J. Brian Chaffin, CIBM’s president and CEO, said in the release.

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