CertusBank, N.A., announced its acquisition of Quadrant Financial, Inc. The Greenville-based bank entered into a definitive agreement to purchase Quadrant Financial, Inc., enabling CertusBank to become the 22nd largest SBA 7A lender (by dollar volume) in the nation and the No. 1 SBA lender based in South Carolina.
Quadrant Financial, Inc. is a subsidiary of First Chatham Bank of Savannah, Ga. CertusBank agreed to acquire 100 percent of the business. John Handmaker and George Vredeveld co-founded Quadrant Financial in 2001 and have offices in eight states and have originated in excess of $750 million in loans to assist small businesses across the United State.
“I'm thrilled about this acquisition,” said Walter L. Davis, Co-CEO of CertusBank in a statement. “It positions us perfectly to expand our small to mid-size business platform in the southeast, especially in our headquartered state of South Carolina. We are most excited about the executives and co-founders of Quadrant Financial, John Handmaker and George Vredeveld. They are proven leaders in the industry and have developed a strong team of small business lending professionals. We believe that with their continued leadership and our strong capital position, we'll grow stronger, moving us forward to becoming the most admired financial institution in the country."