Mid Am Inc. of Bowling Green, Ohio, continued its quest for fee income with the acquisition of an Indiana mortgage company.
Mid Am on Tuesday added Simplicity Mortgage Consultants Inc. to the host of financial services companies it owns, including five banks.
Simplicity, based in Marion, caters to high-risk customers who don't usually qualify for bank mortgage loans. The firm will keep its name and president, Donald R. Steele.
Marci L. Klumb, associate general counsel of $2.1 billion-asset Mid Am , said it wants to increase its gross fee-based income by $20 million by 1998.
She said the creation last year of a leasing company, Mid Am Credit Corp., was part of that strategy. Mid Am Credit, based in Columbus, specializes in leasing and lending to health-care professionals.