Mortgage official joins Sarasota bank

SARASOTA — Local mortgage expert Joe Adamaitis, president of the Gulf Coast Mortgage Banker's Association, has been named residential lending manager at Insignia Bank.

Adamaitis, with more than 30 years in the mortgage industry, will work out of the bank's downtown Sarasota office, according to a release. Adamaitis has built and run in-house mortgage departments for banks, independent lenders and corporations, Insignia says. He also founded and managed his own independent mortgage firm, which had offices in five states.

“Insignia Bank is pleased to have Joe Adamaitis join our residential team,” Insignia Bank Chairman and CEO Charles G. Brown III says in a release. “Joe's wealth of experience in residential lending and expertise in the constantly changing industry will bring great value to Insignia Bank as well as to our clients.”

In addition to his work with clients, Adamaitis is an advocate for the mortgage industry, both with the Gulf Coast Mortgage Banker's Association and the Mortgage Alliance of Southwest Florida. The latter group was founded in 2012 to help combat some of the industry's negative perceptions. Adamaitis has also written three publications about the industry.

Insignia Bank, with two branches, had $144.2 million in assets through March 31.