First Chesapeake Financial Corp. said it would buy three mortgage companies as part of a national expansion plan.

First Chesapeake did not identify the targets, but it said the merged gross monthly closed-loan production of the three would exceed $30 million and that, based on past performance, annual net profits would exceed $2 million.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.