Guaranty Bank completes sale of Shelter Mortgage Co.

By Chris SierotyLAS VEGAS REVIEW-JOURNAL

January 23, 2013 - 2:02 am

Guaranty Bank completed its sale Tuesday of Shelter Mortgage Co. LLC to CIVC Partners LP, a Chicago-based private equity firm, in a move designed to boost the bank's bottom line.

Shelter Mortgage has about 430 employees, including 10 in Southern Nevada.

CIVC Partners acquired Shelter Mortgage for an undisclosed sum. Shelter Mortgage, which operates one branch in Las Vegas, partners with real estate companies, builders, community banks and relocation companies to offer mortgage financing.

"Our customers will be served by the same employees, with the same personalized service they've always received, but with greater access to more diverse mortgage products," said Shelter Mortgage CEO Jill Belconis, who will remain CEO of Shelter Mortgage.

CIVC manages more than $1.3 billion in private equity funds within the business services and financial services industries.

Contact reporter Chris Sieroty at csieroty@reviewjournal.com or 702-477-3893. Follow @sierotyfeatures on Twitter.

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