Heartland Financial USA Adds Mortgage Division To Arizona Subsidiary


Dubuque, Iowa-based Heartland Financial USA Inc. has added a new residential mortgage division to its Arizona Bank & Trust subsidiary. The unit is staffed by mortgage professionals who previously operated as a profitable division of a recently failed Arizona thrift, Heartland says.

Operating under the brand National Residential Mortgage, the unit comprises 24 employees, including management, loan originators, processors, closers, secondary marketing specialists and other support staff.

Heartland says it plans to expand National Residential beyond the Arizona market over time. Administrative and back-office support will be organized within a division of the company's lead bank, Dubuque Bank and Trust.

National Residential is led by Jeff Walton, a former senior managing director of Bear Stearns Residential Mortgage and president of the mortgage divisions of First National Bank of Arizona and First National Bank of Nevada. Walton will be responsible for the oversight of mortgage functions such as operations, underwriting, sales, technology, products and pricing.

SOURCE: Heartland Financial USA Inc.

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