Guild Mortgage Co. in San Diego has purchased Austin, Texas-based AmeriPro Home Loans.
Through the deal, Guild will add new branches in Oklahoma, Florida, Colorado, California and Utah. In 2015, AmeriPro produced $750 million in loan volume; Guild noted in a press release Monday that the deal will make it "one of the largest independent mortgage banking companies in Texas."
The deal fits in with Guild's long-range plan, which includes acquisition-fueled growth. Guild said that from 2010 to 2015 it had grown from 75 satellite offices to more than 230, expanding eastward in the process.
"AmeriPro provides Guild with market leadership in the state of Texas," Guild President and Chief Executive Ann McGarry said in the release. "This is an important step in our growth plan."
Financial terms of the transaction were not disclosed. The merger is expected to close July 1.
