Fidelity Homestead Savings Bank in New Orleans has acquired the regional mortgage lender NOLA Lending.
NOLA Lending will operate as a division of the $826 million-asset Fidelity, according to a press release Tuesday. Financial details of the deal were not disclosed.
The acquisition extends Fidelity beyond Louisiana and into Mississippi, Tennessee, Florida and Alabama. The combined firm has 400 employees.
"Fidelity holds one of the strongest capital positions among community banks in the region, and NOLA Lending has a strong reputation with Realtors, consumers and lenders for fast and efficient processing of residential loans in the Southeast," Fidelity Chief Executive Alton McRee said in the release.
Fidelity was founded in 1908 and has 18 branches throughout southeastern Louisiana. NOLA Lending, which was founded in 2002, is based in Mandeville, La., and has 24 offices in five states.