First Federal Bank, a provider of consumer and commercial banking solutions, services and loans, has acquired the assets and employees of BNC National Bank‘s mortgage division.
With mortgage processing centers in Georgia, Wisconsin and Florida, First Federal Bank originates loans nationwide. The new members of the residential lending team will continue to serve customers from locations in Overland Park, Kan., Moline, Ill. and Bismarck, N.D. and in the Phoenix market.
Based in in Lake City, Fla., First Federal has 25 branches in the Southeast, operations in the Midwest and assets totaling over $3.6 billion. As a community-based mutual institution, the bank is owned by its customers rather than stockholders.
“With the acquisition, First Federal gains a nationwide consumer direct mortgage platform and offers the benefits of community banking, customer service and stability to the expanded customer base in new markets,” says John Medina, president and CEO of First Federal Bank. “This expands our commitment to customers and the residential mortgage sector.”
First Federal will offer additional technology tools and expanded products. The new customers will transition to a First Federal brand immediately.