Printer Friendly

CHASE COMPLETES ACQUISITION OF TROY & NICHOLS APPOINTS GEOFF DREYER PRESIDENT

 NEW YORK, July 1 /PRNewswire/ -- The Chase Manhattan Corporation announced that it has completed its acquisition of Troy & Nichols, Inc., of Monroe, La., from First Gibraltar Mortgage Holdings, Inc., of Houston, and named Geoff Dreyer president of the new subsidiary.
 Troy & Nichols services approximately $10 billion in residential mortgage loans. The company plans to originate approximately $2.5 billion in FHA/VA and conventional residential mortgages this year.
 Mr. Dreyer was formerly chief financial officer of Chase Home Mortgage Corporation (CHMC), a subsidiary of the Chase Manhattan Corporation which offers conventional mortgages nationwide.
 Chase will operate the company as a separate subsidiary and will retain the Troy & Nichols name. Founded in 1939, Troy & Nichols operates a total of 21 offices located in Louisiana, Texas, Mississippi, Tennessee, Alabama, New Mexico and Florida.
 One of the top mortgage servicers in the United States, Chase currently manages a servicing portfolio of $48 billion. For 1993 Chase anticipates originating more than $14 billion in mortgages.
 Salomon Brothers Inc. represented First Gibraltar in the transaction.
 -0- 7/1/93
 /CONTACT: Amy L. Sudol of Chase Manhattan Corporation, 212-552-3184/
 (CMB)


CO: Chase Manhattan Corporation; Troy & Nichols, Inc. ST: New York, Louisiana IN: FIN SU: TNM

LR-OS -- NY066 -- 7774 07/01/93 13:07 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 1, 1993
Words:208
Previous Article:BANKERS TRUST AND FIRST FIDELITY ANNOUNCE CHECK OPERATIONS JOINT VENTURE
Next Article:EAI CLOSES SALE OF FIELD SERVICE UNIT
Topics:


Related Articles
CHASE ANNOUNCES TENTATIVE AGREEMENT TO ACQUIRE TROY & NICHOLS MORTGAGE COMPANY
SOUTHWESTERN BELL ANNOUNCES REORGANIZATION OF TELEPHONE COMPANY
CHASE WILL OPERATE RECENT MORTGAGE ACQUISITIONS AND CHASE HOME MORTGAGE CORP. UNDER ONE NEW NAME
CHASE MANHATTAN MORTGAGE CORP. REALIGNS MORTGAGE ORGANIZATION; MIRRO AND DREYER APPOINTED TO NEWLY CREATED POSITIONS
The Chase Manhattan Bank Opens Corporate Trust Office in Birmingham
Personals.
Helen of Troy, Ltd. Supports National Medals Ceremony Through the President's Committee on the Arts and the Humanities.
Troy Corp. (People on the Move).
Nestle S.A. (Business Briefs).
Nestle closes $2.8 billion Dreyer's deal after clearing final hurdle with FTC: Swiss conglomerate is sitting pretty as largest player in US ice cream...

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters