Rock Financial Corp. said it plans to compete "head to head" with Internet lenders after closing 12 of its 15 branches and beginning a $20 million campaign this month to promote its on-line lending site.

Rock's chairman and chief executive officer, Daniel Gilbert, said the closings are consistent with the company's focus on its Internet loan site. He said the new strategy should make Bingham Farms, Mich.-based Rock competitive with the likes of newly public E-Loan Inc.

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