Northeast Bank Announces Appointment of Fred Schwartz to National SBA Lending Division
12 12월 2017 - 2:00AM
Northeast Bancorp (“Northeast” or the “Company”) (NASDAQ:NBN),
announced today that hotel industry veteran Fred Schwartz has
joined the Company as Senior Vice President, Business
Development. Mr. Schwartz will join the Bank’s national SBA
lending team to support its efforts to provide lending solutions to
the hotel industry.
Mr. Schwartz brings more than 35 years of experience in the
hospitality industry to the Company. He joins having most
recently served as Senior Vice President of Midscale Development at
the Carlson Rezidor Hotel Group (“Carlson”). In his role there, Mr.
Schwartz led the Country Inns & Suites Development Team, and
was responsible for increasing franchise growth across the Americas
by over 200%. Prior to his time with Carlson, Mr. Schwartz served
as President of the Asian American Hotel Owners Association
(“AAHOA”) for nearly 18 years. During his tenure at AAHOA, he
helped the association grow its membership from 3,000 to over
14,000, becoming the hospitality industry’s largest group of hotel
owners, as well as one of the most influential voices for hotel
franchisees across the country. Earlier in his career, Mr.
Schwartz held senior management positions with Hyatt Hotels,
Warwick International Hotels & Resorts, and Crowne Plaza Hotels
& Resorts.
Northeast Bank President and Chief Executive Officer Richard
Wayne said, “Fred’s affiliation with AAHOA and his extensive
experience working with national hotel brands and their franchisees
will support the expansion of our hotel lending efforts. We welcome
him to our team and look forward to his contributions to the
Company.”
About Northeast BancorpNortheast Bancorp
(NASDAQ:NBN) is the holding company for Northeast Bank, a
full-service bank headquartered in Lewiston, Maine. We offer
personal and business banking services to the Maine and New
Hampshire markets via ten branches and two loan production offices.
Our Loan Acquisition and Servicing Group (“LASG”) purchases and
originates commercial loans on a nationwide basis and our SBA
Division supports the needs of growing businesses nationally.
ableBanking, a division of Northeast Bank, offers online savings
products to consumers nationwide. Information regarding Northeast
Bank can be found at www.northeastbank.com.
NBN-F
For More Information:Chris Delamater, VP
Marketing DirectorNortheast Bank27 Pearl Street, Portland, ME
04101207.786.3245 ext. 3548www.northeastbank.com
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