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American Momentum Bank expands with launch of Association Banking services

Oct 11, 2017, 10:15 AM by Bayshore Solutions

Veteran banker Heather Karamitsos joins AMB to build and lead new division

TAMPA, Fla. — In recognition of the unique and growing demands of homeowner and condominium associations, as well as large, sophisticated property managers, American Momentum Bank has added association banking to its list of services and hired one of the state’s foremost experts to head the new division.

American Momentum will offer association banking in all the markets it currently serves: Tampa Bay, Central Florida, Southwest Florida, and Bryan/College Station in Texas.

Highlights of American Momentum’s association banking service include a strategic partnership with CheckAlt, one of the country’s leading remittance processing providers. The partnership allows American Momentum to customize clients’ experience using tools such as integrated ACH processing, remote lockbox scanning, coupon-free auto validation, and optical recognition exception processing. American Momentum has also been named a partner bank with Cinc software for association clients. In addition to a variety of competitive deposit products, the company also offers specialized lending programs for capital improvements and insurance premium financing.

“In Florida alone, association banking accounts for over $7.6 billion in deposits,” said Mike Collins, Florida market president. “It’s a very competitive and sophisticated line of business that requires best-in-class technology and experienced, seasoned bankers with an in-depth understanding of their clients. Recruiting the right talent was a critical factor in creating this new division.”

American Momentum hired Heather Karamitsos as Senior Vice President, Director of Association Banking. Karamitsos has more than 20 years in association banking, and is a state-certified continuing education provider for community association managers. Most recently, she served as SVP-Property Management Specialist at CNL Bancshares, Inc., where she had worked with Collins prior to his joining American Momentum.

“I’m very excited to join the American Momentum team and bring association banking to our customers,” said Karamitsos. “We pride ourselves on taking the time to listen to our clients and develop customized, tailored solutions versus forcing them to conform to an existing bank model. The technology is rapidly changing, and having best-in-class partners like CheckAlt and Cinc allow American Momentum maximum flexibility in creating the best products and services.”