ANNAPOLIS, Md.--(BUSINESS WIRE)--Firstrust Bank recently opened a new representative office in Annapolis, MD. Firstrust Bank will provide debt capital to small, mid-sized and institutional real estate developers and operators in the Maryland and Washington D.C. metro regions. The office will be managed by W. Brandt Butcher, who has been named Senior Vice President of Real Estate Finance for the region.
"I am thrilled with the opening of our new office in Maryland," said Butcher. "By joining with Firstrust and its expertise in real estate financing, we are in an even better position to serve customers and build long-term relationships for the Bank," he said.
The team will focus on providing short-term capital for early stage construction to developers and operators in the Baltimore and Washington metro areas. The sweet spot for such loans is between $5 million and $20 million, although the bank will consider larger deals and syndicated transactions. The bank also provides permanent financing.
“We are excited to expand our lending into the Maryland and Washington, D.C. metro regions,” said Tim Abell, President of Firstrust Bank. “With our broad experience in real estate transactions and Brandt’s extensive knowledge of the area, we look forward to helping developers in this region to achieve their goals,” he said.
Seth Mackler, Firstrust’s executive vice president of real estate lending, said, “We like the Baltimore/D.C. market and see good opportunities to expand our business there.” He said privately-held Firstrust was seeking to cover a wider region and that Annapolis was centrally located enough to serve Baltimore, Washington, and northern Virginia.
Prior to joining Firstrust, Butcher was a Senior Vice President at First National Bank and managed their Maryland Region commercial real estate team. Joining Butcher are Greg Owens and Jack Anderson. Owens is a seasoned real estate banker with over 15 years of local market experience. Anderson has over seven years of experience, predominantly in real estate finance.
For additional inquiries, please contact Brandt Butcher, Senior Vice President of Real Estate Finance, Firstrust Bank at bbutcher@firstrust.com or 443-221-6255.
About Firstrust Bank
Founded in 1934 and currently in its third generation of family ownership, Firstrust is a privately-held bank with assets of $3.1 billion. Safe and Sound for more than 80 years, Firstrust provides commercial, business, and retail services through its 18 banking offices located in Philadelphia, Bucks, Burlington, Lehigh, and Montgomery counties. Continuing to meet the needs of its customers, Firstrust offers a wide variety of commercial and business loans, deposit products, consumer loans, residential and commercial real estate mortgages, cash-management services and is a preferred Small Business Administration (SBA) lender. For more information, visit firstrust.com or call 800-220-BANK. Member FDIC.
