St. Louis-based Enterprise Bank & Trust, the banking subsidiary of Enterprise Financial Services Corp., has announced definitive agreement to acquire certain assets of Gorman & Gorman Home Loans, a division of Hannibal, Mo.-based F&M Bank and Trust Co.
Mark Gorman, founder and president of Gorman & Gorman, will join Enterprise as president of the bank's combined mortgage organization. Also joining Enterprise will be approximately 30 mortgage producers, underwriters and operations staff in St. Louis, Cape Girardeau and Springfield, Mo.
‘Combining our organizations presents a tremendous growth opportunity for Enterprise,’ says Gorman. ‘Together, we'll have the capacity to deliver a broader product set to clients and expand distribution of those products across the bank's footprint. In addition, we'll better serve our communities with more residential loan options and products for first-time home buyers and historically underserved markets.’