homeWelcome, sign in or click here to subscribe.login
     


 

 

Business


print  email to a friend  reprints add to mydjc  

November 1, 2023

PBCO Financial Corporation

PBCO Financial Corporation, the holding company for Medford-based People's Bank of Commerce, announced that it has made the strategic business decision to exit the residential mortgage lending market, effective November 1st. “Industry trends and the current interest rate environment have made it challenging for this division to remain profitable in recent years,” commented Julia Beattie, president & CEO. PBCO anticipates one-time termination expenses of $350 thousand during the fourth quarter of 2023 associated with severance and contract termination fees.




Email or user name:
Password:
 
Forgot password? Click here.