H&R Block Inc. said it has agreed to buy Assurance Mortgage Corporation of America, an originator of conventional mortgages, for $18 million in stock and cash.

The transaction, announced Friday, is expected to close in the fourth quarter. H&R Block's president and chief executive officer, Frank L. Salizzoni, said the deal would help the company's network of 8,800 tax offices provide a well-rounded portfolio of financial services.

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.