Great Oak Lending Partners, based in Timonium, Md., has merged with 1st Maryland Mortgage Corp. of Damascus, Md. The combined company will be called 1st Maryland Mortgage but will operate under the name Great Oak Lending Partners.
Financial terms of the deal were not disclosed. Great Oak Lending has three offices in Maryland and operates in seven other states, and the company plans to be operating in another seven states by the end of the year.
According to the companies, the merger combines 1st Maryland Mortgage's seven employees with Great Oak's 58 full-time employees. The new company plans to hire an additional 20 to 30 people by the end of the year.
SOURCE: Great Oak Lending Partners