SCOTTSDALE, Ariz. - First Western Corp. said it has acquired the $1 billion loan origination business of California-based Beverly Hills Securities Co. for an undisclosed sum.

First Western said the acquisition includes five loan origination offices and a regional headquarters in Encino, Calif.

The company said it named James M. Hennessy, former president and chief executive of Beverly Hills Securities, division president of West Coast operations for its Wesav Mortgage Corp. subsidiary.

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