Insignia, Penny Hill partner

SARASOTA -- Insignia Bank has partnered with the Penny Hill Group, a residential mortgage lender.

Penny Hill will offer traditional mortgages, lot loans, construction/permanent home loans, flexible condo loans and jumbo home loans, a release says.

Insignia operates two offices: its corporate headquarters at the intersection of Orange Avenue and Fruitville Road in Sarasota, and a second location at Fruitville and Cattlemen Road.

The bank has generated $472,000 in profits through the first nine months of 2011. Over the same timeframe last year, Insignia lost $331,000, according to the Federal Deposit Insurance Corp.