Full Service Lending Division to Offer Mortgage, Refinance, Home Equity and Specialty Lending Programs

CHICAGO, November 9, 2009 – Bridgeview Bank Group announced today the formation of Bridgeview Bank Mortgage Company, LLC, a full-service lending subsidiary offering residential mortgage, refinance, home equity and specialty lending programs.

“The creation of our own free-standing mortgage unit is a natural extension of our retail and commercial banking platform,” said Peter J. Haleas, Chairman of Bridgeview Bank Group. “Despite the continued slow economy, we are seeing trends of positive activity in both the national and local real estate sector. Inventories are up and many first-time buyers are entering the market to take advantage of significant tax credits and discounted prices on distressed homes. In turn, this is freeing up existing owners to sell and make a move to another home. Bridgeview Bank Mortgage intends to be a proactive partner in the Chicagoland real estate market.”

Data from the National Association of Realtors (NAR) confirms existing home sales, including single-family, townhomes, condominiums and co-ops jumped 9.4 percent to a seasonally adjusted annual rate of 5.57 million units in September from a level of 5.09 million in August, and are 9.2 percent higher than the 5.10 million units sold in September 2008. Home sales are their highest level in over two years.

According to Lawrence Yun, chief economist of the NAR, a combination of first-time buyers taking advantage of the housing stimulus tax credit and greatly improved affordability conditions are contributing to higher sales.

Home sales in the six-county metropolitan Chicago area inched up for the third month in a row. According to the Illinois Association of Realtors sales in the metro area gained 5.9 percent in September to 6862 homes compared to 6477 a year earlier. In the City of Chicago, September total home sales were up 5.8 percent to 1918 sales compared to 1813 homes sold in September 2008.

“We are ready to help buyers, refinancers, remodelers and builders in today’s housing market,” said Robert Goldstein, Chief Executive Officer of Bridgeview Bank Mortgage. “Whether its first-time buyers, those looking to move to another home or those either constructing or looking to tap the value of their existing home, our mortgage banking and finance professionals look forward to assisting homebuyers, builders and owners all across Chicagoland.”

For more information on Bridgeview Bank Mortgage, please visit www.bridgeviewbankmortgage.com.

About Bridgeview Bank Group
Bridgeview Bank operates 16 full-service banking centers throughout Chicagoland.  The bank also operates Bridgeview Capital Solutions (www.bridgeviewcs.com), a nationwide rural business lending operation in Atlanta, Georgia; and Bridgeview Commercial Finance (www.bridgeviewCF.com) a nationwide asset-based lending, factoring and lease finance company in Chicago, Illinois. In November 2009, Bridgeview Bank Group formed Bridgeview Bank Mortgage (www.bridgeviewbankmortgage.com), a full-service mortgage, refinane, home equity and specialty lending subsidiary. To learn more about Bridgeview Bank Group, please visit www.bridgeviewbank.com.

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