A Northern Virginia bank’s arrival in Richmond is a Dunn deal.
George Mason Mortgage, the mortgage arm of McLean-based Cardinal Bank, this week opened its first Richmond office, adding another large Virginia banking competitor to the market.
Joe Dunn
And the company has a snagged a not-so-secret weapon from the competition: It hired Joe Dunn, a veteran loan officer known locally for his “Dunn deal” catchphrase.
“I have accepted the position of senior vice president and regional manager for George Mason Mortgage,” Dunn said. “And the ‘Dunn deal’ will transfer with me.”
After being a top producer for several years at Village Bank Mortgage, Dunn in February 2012 jumped to Monarch Mortgage, an arm of Chesapeake-based Monarch Bank. A year later, the Hampden-Sydney graduate did a brief stint at Fulton Mortgage before being lured this month to George Mason Mortgage.
“This was an opportunity I couldn’t pass up,” Dunn said. “It was an opportunity to be a part of a huge growing organization and step in and run a region.
The move marks the farthest south Cardinal Bank or George Mason Mortgage have ventured in Virginia. The $2.8 billion bank is one of the largest community banks in the state, but most of its branches are in the Northern Virginia and Washington market. It also has a Virginia Beach office in the works.
Dunn and his crew are the first step in a plan to add three to four local branches over the next 12 to 18 months.
“They are putting a lot time, money and resources to move in and be a major player in this market,” Dunn said.
The company is hitting the ground running in Richmond. Dunn has five employees committed to join him at George Mason Mortgage, and he’s looking for more. He’s hiring loan officers, processors and closers.
The team is working temporarily out of a small office on Cox Road and is in discussions this week for a permanent location, with an eye on the West End, said Bill Landon, executive vice president at George Mason Mortgage. An average George Mason Mortgage office employs about 25 people, Landon said.
“We have kind of always wanted to be [in Richmond],” Landon said. “It’s natural, being the capital of the state. But we have had to wait for the right person.”
The company funds loans of all types, including home mortgages and larger commercial and construction loans. It made 18,000 loans last year, adding up to more than $7 billion in closings, Landon said.
George Mason Mortgage’s arrival does not immediately signal a push for Cardinal Bank branches into the competitive Richmond banking market. Among others, StellarOne Bank and Middleburg Bank have recently looked Richmond for growth.
“Is it a market the bank would like to be in at some point? Absolutely,” Landon said. “Market conditions will dictate that.”
Cardinal chief executive Bernard Clineburg could not be reached for comment regarding the bank’s future plans for branches in Richmond.
In the meantime, Dunn said he would spread the word of the company’s presence here and might do so with an increase in his go-to branding.
“Believe it or not, it works,” he said of his slogan. “When I bump into people they say, ‘Oh, it’s a Dunn deal.”
A Northern Virginia bank’s arrival in Richmond is a Dunn deal.
George Mason Mortgage, the mortgage arm of McLean-based Cardinal Bank, this week opened its first Richmond office, adding another large Virginia banking competitor to the market.
Joe Dunn
And the company has a snagged a not-so-secret weapon from the competition: It hired Joe Dunn, a veteran loan officer known locally for his “Dunn deal” catchphrase.
“I have accepted the position of senior vice president and regional manager for George Mason Mortgage,” Dunn said. “And the ‘Dunn deal’ will transfer with me.”
After being a top producer for several years at Village Bank Mortgage, Dunn in February 2012 jumped to Monarch Mortgage, an arm of Chesapeake-based Monarch Bank. A year later, the Hampden-Sydney graduate did a brief stint at Fulton Mortgage before being lured this month to George Mason Mortgage.
“This was an opportunity I couldn’t pass up,” Dunn said. “It was an opportunity to be a part of a huge growing organization and step in and run a region.
The move marks the farthest south Cardinal Bank or George Mason Mortgage have ventured in Virginia. The $2.8 billion bank is one of the largest community banks in the state, but most of its branches are in the Northern Virginia and Washington market. It also has a Virginia Beach office in the works.
Dunn and his crew are the first step in a plan to add three to four local branches over the next 12 to 18 months.
“They are putting a lot time, money and resources to move in and be a major player in this market,” Dunn said.
The company is hitting the ground running in Richmond. Dunn has five employees committed to join him at George Mason Mortgage, and he’s looking for more. He’s hiring loan officers, processors and closers.
The team is working temporarily out of a small office on Cox Road and is in discussions this week for a permanent location, with an eye on the West End, said Bill Landon, executive vice president at George Mason Mortgage. An average George Mason Mortgage office employs about 25 people, Landon said.
“We have kind of always wanted to be [in Richmond],” Landon said. “It’s natural, being the capital of the state. But we have had to wait for the right person.”
The company funds loans of all types, including home mortgages and larger commercial and construction loans. It made 18,000 loans last year, adding up to more than $7 billion in closings, Landon said.
George Mason Mortgage’s arrival does not immediately signal a push for Cardinal Bank branches into the competitive Richmond banking market. Among others, StellarOne Bank and Middleburg Bank have recently looked Richmond for growth.
“Is it a market the bank would like to be in at some point? Absolutely,” Landon said. “Market conditions will dictate that.”
Cardinal chief executive Bernard Clineburg could not be reached for comment regarding the bank’s future plans for branches in Richmond.
In the meantime, Dunn said he would spread the word of the company’s presence here and might do so with an increase in his go-to branding.
“Believe it or not, it works,” he said of his slogan. “When I bump into people they say, ‘Oh, it’s a Dunn deal.”
Congrats! to you and the Bank!
Get em’ Joe!
Congrats Joe – You are one of the best and this company is fortunate to have you on their team. See you soon.
Congratulations Joe! Look forward to working with you!
CONGRATULATIONS JOE ! Well deserved and a great move for the Richmond Area.