NOLA Lending Group, the mortgage division of New Orleans-based Fidelity Bank, is being acquired by Lake City, Florida-based First Federal Bank, the companies jointly announced.
“We are pleased to have reached an agreement with a partner that will continue to allow our talented and dedicated team to focus on delivering exceptional mortgage banking solutions to customers in our core markets,” said Chris Ferris, President and CEO of Fidelity Bank. “Fidelity Bank’s strategic plan for 2026 includes a renewed focus on sound execution of banking, which will support shareholder value.”
The deal is one of the latest acquisitions in the mortgage industry. No financial details were disclosed.
First Federal Bank said it will continue to service loans from existing locations in Georgia, Wisconsin, and Florida. It is a community-based mutual institution and is owned by its customers rather than stockholders. First Federal has 27 branches in the Southeast and operations in the Midwest.
First Federal Will Expand Mortgage Services
Under the terms of the agreement, First Federal Bank will buy NOLA Lending Group’s assets and will continue to serve Fidelity customers from existing locations in Baton Rouge, Bossier City, Lafayette, Lake Charles, Mandeville, Metairie, Uptown New Orleans, New Orleans East, Pensacola (Florida), and McComb and Ridgeland (Mississippi).
With the acquisition, First Federal said it will expand its retail mortgage services.
First Federal said it anticipates that it will retain most NOLA Lending Group employees and said looks forward to welcoming the new team members.
“Our mission is to provide mortgages from a financially stable institution that is a great place to work and bank. This acquisition underscores our commitment to the residential mortgage sector. We look forward to serving NOLA Lending Group mortgage customers with the same excellence they have come to expect from their team,” John Medina, President and CEO of First Federal Bank, said in a release.
The acquisition allows First Federal Bank to better serve the customers of both organizations by offering additional technology tools and an expanded product offering, First Federal said.
The platform is anticipated to transition to First Federal Bank within 60 days of closing, First Federal said, and the NOLA Lending Group branding will be retained. First Federal said it will continue to invest in cutting-edge digital solutions coupled with personal service.
“The NOLA Lending team uses largely the same technology as First Federal, which will make the transition simple for employees and customers,” said Doug Brendel, Residential Division President at First Federal.
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