Freedom Bank Hires Kevin Ferryman as Senior Vice President & Head of SBA Division
Fairfax, VA (January 4, 2021) — The Freedom Bank of Virginia (OTCQX: FDVA) announced today that it has hired Kevin Ferryman as Senior Vice President & Head of SBA Division and a team of his former colleagues responsible for building a new SBA business for the bank. Mr. Ferryman will serve as a member of the Freedom Bank senior management team focused on establishing the bank’s SBA Division’s goals relating to independent origination, underwriting, closing, sale and servicing of SBA loans. He will work in collaboration with the commercial and community banking groups to ensure strong cross-sale and success of all deposit and treasury products. Additionally, Mr. Ferryman will grow the Division through active participation and fostering strong ties to SBA industry trade organizations and community groups and utilize those connections to build the bank’s brand among business owners and brokers.
Joining Mr. Ferryman in the SBA Division are Kerry Borosh, Vice President & Business Development Officer; Dhruva Patel, Vice President & Underwriter; Dawn Giorgi-Nethercott, Assistant Vice President & Loan Closer; and Lakisha Grant, Loan Closer. Freedom’s new SBA Lending team has a demonstrated track record together of meeting the needs of small businesses customers and originating new clients to growth fee-based revenue through sale of government guaranteed portion of SBA loans and interest and servicing income from an SBA unguaranteed loan portfolio. Loan products have included SBA 7(a), SBA 7(a) ITL, USDA B&I and 504 Wholesale loans.
“We are very fortunate to have a SBA banking executive join our team with such diverse and broad experience in small business lending. Under Kevin’s leadership and with the expertise of the other experienced members joining our SBA team, Freedom Bank will be able to build on the notable success the bank had in 2020 in executing government programs such as the Paycheck Protection Program (PPP) and the Main Street Lending Program (MSLP). We continue that momentum with our new SBA lending business that will meet the needs of Freedom’s clients in the DC Region, as well as, originate new clients throughout the East Coast, said Joe Thomas, President and CEO.
Kevin Ferryman added “I am excited to join Freedom Bank and embark on this new chapter that will expand the bank’s offerings to more fully serve the business community during a period where small businesses are struggling due to COVID-19 and challenged to get the funding they need due to consolidation within the community banking industry and as some institutions move to limit traditional SBA lending. Freedom Bank has a meaningful opportunity to fill that void and come to the aid of small businesses at a time when the capital is most needed,” continued Mr. Ferryman.
Mr. Ferryman was most recently Senior Vice President and Director of SBA Lending at Patriot Bank in Connecticut where he built a successful SBA program. Prior to this, Mr. Ferryman worked at Citizens Bank as Senior Vice President and SBA Director responsible for managing all aspects of their SBA lending. He has also held various roles at Capital One Bank and JPMorgan Chase Bank where he developed his leadership and credit skills, and continually surpassed individual and team production goals. Mr. Ferryman earned his BS in Banking and Finance from St. John’s University and MBA in Banking and Finance from Hofstra University.
About Freedom Bank
Freedom Bank (OTCQX: FDVA) is a next-generation community bank, headquartered in Fairfax, Virginia, offering commercial banking, personal banking, and mortgage banking solutions using banker expertise and innovative technology to build lead relationships with clients. Focusing on businesses, real estate owners, and professionals in the Northern Virginia/DC metro area, Freedom Bank concentrates on key industry verticals to deliver unique, sector-specific solutions to help clients meet their goals and realize their dreams. Freedom Bank had total assets of $752 million on September 30, 2020 and locations in Fairfax, Vienna, Reston, Manassas, and Chantilly and a mortgage division also headquartered in Chantilly. For information about Freedom Bank, visit our website at www.freedom.bank.
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