DSS’s American Pacific Bancorp issued nearly $20 million in new loans – QNT Press Release


Rochester, New York, December 20, 2021 (Global News Service)-DSS, Inc. (“DSS” or “Company”) (NYSE code:Data Security System), a multinational company with nine business lines in a diversified, high-growth industry, is pleased to announce that its American Pacific Bank (“APB”) subsidiary has issued nearly US$20 million in new loans since September 2021.

Frank D. Heuszel, CEO of DSS, said: “APB has formed a strong and diversified loan portfolio, including commercial licensed medical real estate financing, government bond prospective bill financing, C&I inventory and equipment financing, and land development loans.” APB’s investment in the third quarter was very successful, allowing us to continue our recurring and scalable business income model. We now have nearly half of the new capital injected to generate interest and expense income, and we expect there will be another $20 million in loans in the short term , As we build a high-quality commercial loan portfolio.”

DSS is the major shareholder of APB, holding more than 50% of its issued common stock. CCRE intends to continue to develop and expand its loan platform to provide services to small and medium-sized commercial borrowers, and continue to acquire equity in U.S. commercial banks to develop its loan network and provide global banks…

The full story can be found on Benzinga.com


Source link

Recommended For You

About the Author: News Center