SOURCE: Oak Street Funding

Oak Street Funding

April 17, 2012 08:00 ET

Oak Street Funding Reports Record Q1 Growth

INDIANAPOLIS, IN--(Marketwire - Apr 17, 2012) - Oak Street Funding (www.oakstreetfunding.com), the nation's leading commission-based lender for insurance professionals, announced record first-quarter originations almost tripling the originations from the same period of the prior year. The extraordinary growth is fueled by an aggressive marketing and sales campaign aimed at significantly expanding Oak Street's market reach. By expanding its sales staff both internally and externally, Oak Street is expanding its footprint into the larger loan arena by funding several multi-million dollar loans for clients such as EverGuard Financial Services, Inc. (Washington) and CDS Insurance Agency, LLC (Arizona). Oak Street also experienced growth in its loan servicing area by adding another large pool of loans from an international bank.

Rick Dennen, Chief Executive Officer and President of Oak Street Funding, said, "We are very happy with our first quarter performance. Our aggressive growth strategy that began in 2010 across all divisions of the business, is starting to be realized," says Dennen. "We feel that we are well positioned to build on this momentum for the second quarter and the remainder of 2012."

Todd Gray, Chief Financial Officer of Oak Street Funding, said, "Oak Street has a very strong capital base and long-standing banking relationships. Oak Street's aggressive growth and expansion strategies are founded on leveraging this financial stability and our strong brand within the niche insurance space. We believe our first quarter is indicative of our future performance encouraged by a very strong pipeline going into the second quarter."

Unlike a traditional bank, Oak Street makes loans exclusively to insurance agents and producers. Oak Street Funding has loaned hundreds of millions of dollars to insurance agency owners in most states. As a result, Oak Street has a great understanding of the insurance marketplace and insurance agencies and can quickly evaluate and structure agency loans. Oak Street is a direct lender and handles its loan processing in-house, meaning loans are never sold to another finance company or bank. Oak Street also offers servicing of third-party loans for financial institutions.

About Oak Street Funding
Carmel, Ind.-based Oak Street Funding (www.oakstreetfunding.com) is a family of diversified financial services companies that offers commission-based commercial financing exclusively for insurance professionals and third-party loan servicing for financial institutions. Oak Street Funding can be found on Twitter @OSFunding and on LinkedIn http://www.linkedin.com/company/oak-street-funding.

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