First Group Financial institution of Tennessee shopping for mortgage lender

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First Group Financial institution of Tennessee in Shelbyville has agreed to purchase a mortgage lender in Murfreesboro, Tenn.

The $814 million-asset financial institution mentioned its First Group Mortgage unit will purchase A Mortgage Boutique. First Group didn’t disclose the value of the deal, which is anticipated to shut this month.

“We’re excited to companion with the staff at AMB,” Keith Carter, First Group Mortgage’s CEO, mentioned in a press launch Thursday. “There’s robust alignment between our two organizations, notably within the worth we place on folks … and the communities we serve.”

First Group Mortgage’s wholesale division plans to rebrand as A Mortgage Boutique after the deal closes.

Retta Gardner, a co-founder of A Mortgage Boutique, will be a part of First Group Mortgage as government vp of the wholesale division. Nancy Skinner, the mortgage lender’s president and one other founder, and Okay.J. Harden, who leads retail gross sales, will even be a part of First Group Mortgage.

A Mortgage Boutique was based in August 2019. It operates in Alabama, Florida, Kentucky, Ohio, Tennessee and Virginia.

First Group Mortgage operates in 46 states. It funded greater than $3.5 billion in dwelling loans final 12 months.

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