Illinois-based CIBM Bank expanding mortgage department to six states

Champaign, Ill.-based CIB Marine Bancshares announced Jan. 3 that it plans to hire approximately 30 mortgage loan officers as it expands its mortgage lending department into Arizona, Connecticut, Florida, Massachusetts, New York and Rhode Island. 

The parent company of the $754 million CIBM Bank hired Frank Binetti as director of mortgage operations. Binetti, a 35-year mortgage lending veteran, is based in the bank’s Chicago market. He is a former president of the Illinois Mortgage Bankers Association.

CIBM Bank mortgage banking director Gary Maughan, added that “with Binetti’s strong background in developing and growing mortgage lending teams, he will oversee mortgage loan officer recruiting and sales management for our mortgage division.”