Bank / Credit Union

First Federal Bank to acquire BNC mortgage division

June 23, 2023

First Federal Bank, has acquired BNC National Bank's mortgage division and its employees. With this acquisition, it will be able to serve customers in Overland Park, Kansas; Moline, Illinois; Bismarck, North Dakota; and Phoenix, Arizona, according to a press release.

"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," John Medina, president and CEO of First Federal Bank, said in the release. "Since 1962, it has been our mission is to provide solutions from a financially stable institution. This acquisition expands our commitment to customers and the residential mortgage sector. We look forward to serving the new mortgage customers with the same excellence they enjoyed from the BNC team."

The new customers will transition to the First Federal brand.

"BNC National Bank's mortgage division team looks forward to offering new and enhanced products to our customers as First Federal Bank Mortgage Lenders," Doug Brendel, president, First Federal Bank, mortgage banking, said in the release. "With the expanded product offering and strong digital tool set, First Federal will continue to be lauded as one of the best small banks."