As the shake-up in the nation’s mortgage lending sector continues, a Florida-based community bank says it has agreed to acquire the Overland Park mortgage operations of BNC National Bank.
First Federal Bank of Lake City, Fla., announced the deal to assume assets and liabilities of BNC’s mortgage division, pending regulatory approval. Neither organization confirmed terms of the sale.
Earlier this year, Grandview-based NASB Financial announced that it was exiting the direct-to-consumer mortgage lending business, a move that was expected to eliminate at least 125 layoffs. And last fall, the venerable James B. Nutter & Co., which had been lending in the Kansas City market since 1951, announced that it would sell off its assets and stop making new loans.