SOURCE: Pulaski Financial

February 21, 2006 11:00 ET

Pulaski Bank and Prudential Select Properties Establish Joint Venture

ST. LOUIS, MO -- (MARKET WIRE) -- February 21, 2006 -- Pulaski Bank, a division of Pulaski Financial Corp. (NASDAQ: PULB) and Prudential Select Properties, REALTORS® today jointly announced they have reached an agreement to establish a new joint venture to be called Preferred Home Lending. The joint venture's primary objective will be to originate, process and fund mortgage loans for customers of Prudential Select Properties. Preferred Home Lending will leverage the power and resources of two proven and trusted brands to provide homebuyers and sellers access to a wide array of home financing programs, competitive rates and fees, along with industry leading customer service levels.

Preferred Home Lending will provide tremendous benefits to the customers of Prudential Select Properties who choose them to obtain their home financing needs:

--  A dedicated staff of loan officers who will reside within each of
    Prudential Select Properties' offices that will develop personalized
    financing options to meet each buyer's particular property type and
    financial situation;
    
--  An expanded product line of first and second mortgages as well as home
    equity lines of credit that provides multiple ways for qualified customers
    to receive "yes" answers:
    
--  Mortgage rates that consistently lead the competition with the lowest
    rates available;
    
--  Customer satisfaction levels that  historically have exceeded  98%; and
    
--  Local processing, underwriting and closing operations.
    

"I am very excited to announce the joint venture with Pulaski Bank," said Dan Bitza, President and CEO of Prudential Select Properties. We believe that Pulaski Bank is the premier mortgage lender in the St. Louis metropolitan market. The high standard of service and quality personnel at both Prudential Select Properties and Pulaski, coupled with the competitive mortgage products and rates offered through Pulaski Bank provides a winning combination for our clients as they navigate through the homebuying process"

"The tremendous synergies and cultures of our two companies make Prudential Select Properties and Pulaski Bank the perfect fit for this partnership," said Chris Reichert, Executive Vice President & Director of Pulaski Bank. "Together, our strong customer focus, combined local resources and industry-leading products and services will create an unmatched solution for home buyers. Customers pursuing the dream of home ownership are the real winners in this partnership.

"We will also maintain our strong relationships with other realtors throughout our markets. Our Pulaski Bank team of loan officers will continue to serve the entire St. Louis real estate community," Reichert noted.

About Pulaski Bank

Pulaski Bank is an independent, community bank providing friendly and personal service to consumers. They operate two offices in the Kansas City metropolitan area and seven offices in the St. Louis metropolitan area and a loan production office in the Kansas City metropolitan area. Pulaski Bank is an approximately $800 million asset bank with approximately 350 full time employees, including nearly 150 dedicated to mortgage banking. Pulaski Bank is currently one of the top lenders in the St. Louis market and has rapidly become one of the top lenders in Kansas City. The holding company, Pulaski Financial Corp. is a NASDAQ listed public company, which trades under the symbol "PULB". The company's website can be accessed at www.pulaskibankstl.com. Visit the shareholder information page for useful and comparative data.

About Prudential Select Properties

Prudential Select Properties, REALTORS® (PSP) was founded as a St. Louis locally owned and operated company in March 2002 by five former senior brokers of a large St. Louis real estate company. Since then, PSP has been one of the fastest growing real estate companies in the country with 12 offices serving the greater St. Louis market in Illinois and Missouri. Prudential Select Properties has been honored by Prudential Real Estate Affiliates (Prudential) by being inducted into its Gibraltar Club within its first year in business and every year thereafter. The Gibraltar Club is a designation reserved for Prudential's Top 50 real estate companies in the nation. Under the direction of Dan Bitza, President and CEO, Prudential Select Properties placed under contract over $1 billion in St. Louis area real estate in 2005. Since their beginning in 2002 they have experienced unparalleled growth with over 800 sales associates currently serving the St. Louis metropolitan area. Their web site www.PSPhomes.com provides a thorough history of their company and growth. PSP's commitment to unparalleled customer service and cutting-edge market technology has made them the choice for discriminating buyers and sellers, as well as their agents when it comes to St. Louis metropolitan real estate.

Contact Information

  • For additional information
    Chris K. Reichert
    Executive Vice President
    Pulaski Bank
    (314) 579-7700

    Dan Bitza
    President and CEO
    Prudential Select Properties
    (314) 727-1235