American Pacific Mortgage announces Employee Stock Ownership Program to roll out March 2021
Roseville, CA — February 26, 2021 — American Pacific Mortgage (APM) has announced its move to become a partially employee-owned company on the heels of a record year for the industry. While company mergers and acquisitions hit a peak industry wide in Q3 and Q4 of 2020, APM shares its plan to move in a different direction than the rest of the industry, where only a few are doing something similar for their employees.
Giving Back
APM Chairman Kurt Reisig stated at a recent employee meeting that this decision was made to preserve the dynamic culture of the company and give back to those who have contributed to the success of the company along the way, stating, "without our APM Family, we would not be where we are today. This is our way of saying thank you." The employee stock ownership plan (ESOP) will be finalized by March 15th with a 90-day rollout plan for employees.
Reaction
Employee reactions were overwhelmingly positive to this surprise announcement, and many who were hired during the recent volume surges were pleasantly surprised that they would also be included. “Every full-time employee will be included, including originators.” Kurt noted, “It is a huge advantage for our people and those considering a move – owning part of the company you work for keeps everyone working towards the same goals, and reaping rewards from their combined efforts.”
Indeed, this is a highly unusual move in an industry where companies are acquired, consolidated, or absorbed by bigger companies with very little gain for the employees. There are just 7,000 ESOPs in the U.S. and APM is thrilled to be one of them, playing to our mission to Create Experiences That Matter “not just for our customers, but also for our employees,” mentioned Bill Lowman, CEO of APM. “In an industry that doesn’t offer a lot in the way of retirement for many of its employees, this is a way to help provide a retirement nest egg, but also to reward and empower our branches and employees.”
About American Pacific Mortgage
American Pacific Mortgage was founded in 1996 and is a national independently owned and operated retail mortgage lender known for Creating Experiences That Matter™ for our people and our customers. Based in Roseville, California, APM is a top-ranked mortgage lender in the U.S., winning multiple awards annually, including Top Mortgage Lender, Most Loved Employer, and Top Place to Work.
APM is 49% employee-owned through an employee stock ownership plan, a distinguishing difference that creates long-term savings for those who stay with the company. It is licensed in 49 states, employs more than 2,600 people, and has over 350 branches, many of which operate under their own DBA names. APM’s rallying cry is to be 100% focused on our originators and branch managers because our customers reap the benefits when they look good. APM’s charitable entity, APMCares, is entirely funded and run by employees and supports an array of organizations throughout the country with funds and volunteer hours, as well as assistance for employees struggling due to a medical, financial, or bereavement hardship. For more information about APM, visit www.APMortgage.com.
Press Contact:
Bridget Clark, Marketing Director
Phone: 916-960-1325 Email: bridget.clark@