Enterprise Financial Services (ESFC) has completed the purchase of a mortgage business from F&M Bank and Trust.
The St. Louis company's bank also brought over 30 mortgage producers, underwriters and operations staff in Missouri after buying the operating assets of Gorman & Gorman Home Loans for an undisclosed amount.
"We now have a greatly expanded capability to advise our clients on mortgage solutions and the resources to offer a complete suite of products," Scott Goodman, president of Enterprise Bank & Trust, said in a press release Monday.
Gorman & Gorman has generated $2.5 billion in mortgages since its creation in 1994; it operates in St. Louis, Springfield and Cape Girardeau. F&M bought Gorman & Gorman in 2010.
Enterprise said in March that it expected to promote its mortgage business more aggressively after completing the deal. "This expands our operations, and it allows us to be more aggressive in marketing our mortgage operations in all of our markets," Jerry Mueller, Enterprise's senior vice president of marketing, said in a press release announcing the acquisition.
