Guaranty Bank has moved its headquarters from Brown Deer to Glendale following the January sale of subsidiary Shelter Mortgage LLC to a Chicago private equity firm.
The division, now known as Shelter Mortgage Co., was sold to increase capital. It is now occupying the Brown Deer building Guaranty owns, as a tenant.
Most Guaranty retail bank employees in Brown Deer have shifted to the company’s Bayshore Town Center offices in Glendale. Some Guaranty employees have remained in Brown Deer to assist with the IT transition, said Jennifer Tucker, corporate communications manager.
The company has 1,300 employees. About 280 of those are now in the Glendale headquarters and 75 remain in Brown Deer.
“We just wanted everybody to be under the same roof and since we were able to move those employees here and the majority of our staff is no longer in Brown Deer, that by default made Glendale the headquarters,” Tucker said.
Guaranty Bank has 50,000 square feet of space at its Bayshore Town Center headquarters.