Boback Management Services teams up with American Momentum Bank

Boback Management Services, a full-service association management company based in Ft. Myers Beach, has teamed up with American Momentum Bank’s Association Banking division.

Dennis Boback, who served as mayor of Ft. Myers Beach from March 2006 to March 2008 and again from March 2016 to March 2018, is president of Boback Management Services. The company manages 15 community associations in Ft. Myers Beach and Ft. Myers.

“We had a good banking relationship with our previous bank,” Boback said. “But that bank was bought by a credit union earlier this year, and since then we’ve had nothing but problems.”

According to Boback, the transition from his old bank to the credit union was mismanaged and lacking in communication. The credit union also consistently made errors in processing ACH payments.

“The credit union had no clue how to work with community associations and messed up our ACH debits every month,” said Boback. “It was a nightmare. We’ve wasted a lot of time and money dealing with this, and it gives us a bad rap.”

Boback was familiar with American Momentum Bank because he and Heather Karamitsos, the bank’s senior vice president and director of association banking, were members of the same networking group.

“I’ve known Heather for a long time, and I know of a couple other management companies that use American Momentum,” Boback said. “Heather’s been in association banking for a number of years and she understands the needs of a management company. That saves everybody time and money for both the management company and the associations they manage, and makes everybody look good.”

American Momentum Bank’s Association Banking team, which has more than 60 years of combined experience serving associations in Florida, addresses the unique and growing demands of homeowner and condominium associations, as well as large, sophisticated property managers. The bank offers a variety of competitive deposit products, specialized lending programs for capital improvements and insurance premium financing.

Boback Management Services, which offers highly personalized service, will benefit from American Momentum’s integrated ACH processing, remote lockbox scanning, and streamlined signature card processing.

“We’re excited to bring Boback Management Services on as a client because we understand their business,” Karamitsos said. “We’re looking forward to simplifying and streamlining their banking so Dennis and his team can focus on serving their communities.”

About American Momentum Bank

American Momentum Bank, a Texas-chartered banking association with total assets of $1.7 billion as of Sept. 30, 2019, provides comprehensive products and services for businesses and individuals. American Momentum has ten full-service banking centers in Texas, as well as a deposit production office in Dallas. The bank also has ten full-service banking centers in Florida. American Momentum’s strong capitalization, superior asset quality and experienced management teams position it as one of the premier banks in each state. Visit www.americanmomentum.bank to learn more.