Matrix Bancorp (NASDAQ:MTXC)
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From Jun 2019 to Jun 2024
Matrix Bancorp, Inc. (Nasdaq:MTXC) (the "Company")
announced today that MTXC Realty Corp., its wholly owned real estate
brokerage subsidiary operating exclusively in the Denver area ("MTXC
Realty"), has agreed to sell certain assets, including substantially
all of its operating assets, to Metrowest Real Estate Solutions. The
agreement also provides for the termination of MTXC Realty's exclusive
brokerage services agreement with First American REO Services,
formerly known as Matrix Asset Management LLC, whereby MTXC Realty was
the exclusive agent for First American with respect to real estate
listing services in the Denver, Colorado, area. As a result of the
transaction, MTXC Realty's ten full-time employees are expected to
join Metrowest Real Estate Solutions.
MTXC Realty did not contribute materially to the Company's net
income in 2005 and was not expected to provide a material contribution
to the Company's net income in 2006.
Denver-based Matrix Bancorp, Inc. is focused on developing its
community-based banking network through its Matrix Capital Bank
subsidiary by strategically positioning branches across Colorado's
Front Range market. The Bank plans to grow its network to an estimated
five to seven community-based branches over the next three to five
years. The Company recently identified "United Western" as its
proposed new brand name and anticipates a formal change in legal and
trade names during second or third quarter of 2006, after receiving
applicable regulatory and shareholder approvals.
At December 31, 2005, the Company reported total consolidated
assets of $2.1 billion, total loans of $1.4 billion, total deposits of
$1.1 billion and total consolidated shareholders equity of $180.7
million (includes proceeds used for the Company's January 2006 tender
offer). For more information, please visit www.matrixbancorp.com.
Certain statements contained in this press release that are not
historical facts, including, but not limited to, statements that can
be identified by the use of forward-looking terminology such as "may,"
"will," "expect," "anticipate," "predict," "believe," "plan,"
"estimate" or "continue" or the negative thereof or other variations
thereon or comparable terminology, are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of
1995, and involve a number of risks and uncertainties. The actual
results of the future events described in such forward-looking
statements in this press release could differ materially from those
stated in such forward-looking statements. Among the factors that
could cause actual results to differ materially are: the timing of
regulatory approvals or consents for new branches or other
contemplated actions; the availability of suitable and desirable
locations for additional branches; the continuing strength of our
existing business, which may be affected by various factors,
including, but not limited to, interest rate fluctuations; level of
delinquencies; defaults and prepayments; general economic conditions;
competition; the delay in or failure to receive any required
shareholder approvals of the contemplated actions; the risks and
uncertainties discussed elsewhere in the Company's Annual Report on
Form 10-K for the year ended December 31, 2005, filed with the
Securities and Exchange Commission on March 15, 2006; and the
uncertainties set forth from time to time in the Company's periodic
reports, filings and other public statements.