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.
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.
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 (APM) was founded in 1996 and is a national retail mortgage lender best known for Creating Experiences That MatterTM for our people and our customers. Headquartered in Roseville, California, APM is ranked as a top mortgage lender in the U.S. and continues to win multiple awards annually including Top Mortgage Lender, CalHFA’s Lending Heroes, Top Veteran Originators, Most Loved Employer, Diversity Jobs Employer, and Top Places to Work. The company funds over $22 billion annually, is licensed in 49 states, employs more than 3,500 people, and has over 200 branches across the U.S., many of which operate under their own local DBA name. APM’s rallying cry is to be 100% focused on our originators and branch managers because when they look good, our customers reap the benefits. Their charitable entity, APMCares, is entirely funded and run by employees and supports a diverse array of organizations throughout the country with funds and volunteer hours, as well as assistance for employees who are struggling due to a medical, financial, or bereavement hardship.