Barnett, Nationsbanc Mortgage, and 1st Source complete deal.

Three commercial banks announced Monday they had completed previously announced acquisitions of mortgage banking assets.

Capital-rich banks, seeking to build assets, have been making aggressive thrusts into the mortgage business this year.

In a long-awaited closing, Barnett Banks Inc. finished its purchase Of Loan America Financial Corp., a publicly traded mortgage bank that specializes in wholesale lending.

The final purchase price was $59.4 million, or $12.61 per share. The deal was originally announced early this year, but was held up pending regulatory approval.

Also closing was Nationsbanc Mortgage's $89.2 million purchase of the loan servicing portfolio and servicing platform of Express America Mortgage Corp., Scottsdale, Ariz.

Express America netted $41.6 million from the sale, according to an announcement.

After the sale, Nationsbanc Mortgage will service a home loan portfolio of about $37.5 billion and will have centers in Louisville and Scottsdale. The deal should push Nationsbanc into the top 15 mortgage servicers nationally.

Shares of Express America were unchanged at $6.125 a share in Monday morning trading.

Following the sale, Express America will concentrate on its core wholesale mortgage business.

On another front, 1st Source Corp. South Bend, Ind., said it completed the acquisition of South Bend rival Trustcorp Mortgage Co.

Trustcorp has loan production offices in South Bend, Indianapolis, and Columbus, Ohio.

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