HÅGATÑA (BoG) — Bank of Guam announces that it has entered into agreements to purchase a portfolio of Guam-based commercial loans and mortgages from ANZ Guam.
The agreements were signed on Friday, October 14, 2022 at the Bank of Guam headquarters in Hagåtna.
The first phase of these agreements involves the transition of the commercial portfolio to Bank of Guam Friday, with the final phases expected by the end of the year.
“The Bank of Guam is the ‘people’s bank’, known for its community orientation. They are ideally placed to provide dedicated, local service to our business customers. ANZ will continue to serve our deposit account customers while we are in discussions with a number of parties regarding the future of ANZ Guam, Inc.,” said Clarke Schaumann, Guam and American Samoa Regional Manager and Director of the ANZ Guam Board of Directors.
“For 50 years we have worked hard to continue our legacy of service, and today we are growing not just in business, but through the people we serve. We thank ANZ for trusting us with this opportunity to serve as trusted local financial advisors to a new group of businesses and customers and we are proud to welcome them to the Bank of Guam family,” said Joaquin Cook, Chairman and CEO, Bank of Guam
With this purchase, Bank of Guam continues its long-term growth strategy, deepening key markets and enabling the bank to leverage its heritage of integrated services, expertise and product offerings with an even larger customer base.