Wharton Gladden & Company reports record increases in loan production and revenues during second quarter 2006
Greensboro, NC (August 16, 2006) – Algenon L. Cash, senior director of Wharton Gladden & Company, LLC, reported today that the company's loan production increased 400 percent during the second quarter (ending June 30, 2006) compared to the same time period in 2005. The capital markets group that provides commercial mortgage banking services to real estate investors and small business owners also reports a revenue increase of 434 percent in the same three month period.
Second quarter revenue and loan production increases are attributed to a broader geographic focus and additional staffing given the Raleigh office opening in the first quarter of this year.
"We're pleased about this growth trend, opening our office in the Research Triangle region has positively impacted our production," explained Cash. "In addition, we are seeing an increase in out-of-state investors purchasing commercial property in North Carolina which has also led to our increases."
Wharton Gladden & Company delivered a record quarter across the board in both loan production and revenues. This strong momentum illustrates the firm is executing well and the business focus is on target with market needs.
Wharton Gladden & Company is expecting to continue this growth pattern for the second half of 2006. The company currently has offices in the Triangle and Triad regions and is planning an expansion into the Charlotte market in by the end of 2007.
About Wharton Gladden & Company:
The firm is headquartered in North Carolina with production offices in Raleigh and Greensboro. Wharton Gladden & Company is a uniquely designed real estate investment banking boutique that specializes in providing commercial mortgage banking, private equity, asset management and advisory services to small and middle market business owners, real estate developers, and investors.
The firm meets the needs of clients nationwide with access to a wide-ranging source of institutional capital and is strategically positioned to provide a comprehensive mix of solutions. For further information visit www.whartongladden.com or call 336.478.2305.
