Gelt Holdings, Inc., the parent company of Gelt Financial Corporation
is pleased to announce the acquisition of Public Savings Bank. Public
Savings Bank will service better credit quality commercial real estate
wners and real estate investors who deserve lower interest rates and
fees. Public's wholesale division will be led by industry veteran Jon
Zeitz. Even though Public is a bank, just like Gelt it will have No
ratio loans, rehab loans and new construction loans. Public will serve
the same territory that Gelt does, PA, NJ, DE, MD & FL. Gelt's
wholesale department, led by Mike Salmieri, will continue to focus on
loans for non bankable borrowers. Jon Zeitz can be reached at
215-839-0100 ext 229 and Mike Salmieri at 215-947-2974 ext 225.
