First Community Bank of Tennessee in Shelbyville has agreed to buy a mortgage lender in Murfreesboro, Tenn.
The $814 million-asset bank said its First Community Mortgage unit will acquire A Mortgage Boutique. First Community did not disclose the price of the deal, which is expected to close this month.
“We are excited to partner with the team at AMB,” Keith Carter, First Community Mortgage’s CEO, said in a press release Thursday. “There is strong alignment between our two organizations, particularly in the value we place on people … and the communities we serve.”
First Community Mortgage’s wholesale division plans to rebrand as A Mortgage Boutique after the deal closes.
Retta Gardner, a co-founder of A Mortgage Boutique, will join First Community Mortgage as executive vice president of the wholesale division. Nancy Skinner, the mortgage lender's president and another founder, and K.J. Harden, who leads retail sales, will also join First Community Mortgage.
A Mortgage Boutique was founded in August 2019. It operates in Alabama, Florida, Kentucky, Ohio, Tennessee and Virginia.
First Community Mortgage operates in 46 states. It funded more than $3.5 billion in home loans last year.
