Florida bank expanding retail mortgage line through Louisiana buy

First Federal Bank in Florida is expanding its retail mortgage operations across the Southeast and Midwest by acquiring the mortgage division of New Orleans-based Fidelity Bank, NOLA Lending Group..Under the agreement, First Federal will continue serving mortgage customers from existing locations in Louisiana, Mississippi and Florida, including offices in Baton Rouge, New Orleans, Lafayette, Lake Charles, Mandeville and Metairie, La.; Pensacola, Fla.; and other markets.Headquartered in the north-central Florida town of Lake City, First Federal Bank is a community-owned mutual institution with 27 branches in the Southeast and additional operations in the Midwest. First Federal President and CEO John Medina said the transaction reinforces the bank’s commitment to residential mortgage lending and to providing a stable workplace for employees. The $4.1 billion bank expects to retain most NOLA Lending Group staff.Fidelity Bank President and CEO Chris Ferris said the agreement aligns with Fidelity’s strategic plan to sharpen its focus on core banking operations while ensuring continuity for mortgage customers and employees.Following the acquisition, First Federal will offer additional technology tools and an expanded mortgage product lineup. The mortgage platform is expected to transition to First Federal within 60 days of closing, and the NOLA Lending Group name will be retained. Bank officials noted the two organizations already use similar technology systems, which is expected to ease the transition for both customers and employees.Fidelity Bank has more than $1.2 billion in assets and operates 18 branches across Louisiana.Atlanta-based law firm Alston & Bird represented Fidelity Bank, and Birmingham, Ala.-based Bradley Arant Boult Cummings represented First Federal Bank.