Matrix Bancorp Inc. in Denver continues to shed business lines that do not fit its newfound focus on community banking.
The $2.1 billion-asset Matrix said last week that its Equi-Mor Holdings Inc. plans to sell ABS Schools Services LLC, a Phoenix provider of lending and financial management services to charter schools, for $7.41 million.
Matrix or one of its units plans to lend the buyer, SKS Ventures LLC, up to $4 million to finance the deal, which is expected to close this week.
This month Matrix said it had sold certain assets of its Matrix Bancorp Trading Inc., which provides brokerage and consulting services to the mortgage industry, to SN Capital Markets LLC. Also this month, Matrix's real estate brokerage unit, MTXC Realty Corp., said that it would sell certain assets, including almost all its operating assets, to Metrowest Real Estate Solutions. .
Matrix is changing its name to United Western Bancorp Inc. and the name of its bank to United Western Bank, to reflect the new focus on community banking.
