PITTSBURGH - PNC Financial Corp. said its Citizens Fidelity Bank in Louisville, Ky., completed the $1.3 billion acquisition of the mortgage-servicing portfolio of Cowger & Miller Mortgage Co., also of Louisville.

First Atlantic Federal Savings Association, which is in Resolution Trust Corp. receivership, sold the portfolio.

PNC said that Citizens Fidelity bought the $1.3 billion mortgage-servicing portfolio, consisting of about 28,000 loans, for PNC Mortgage Servicing Co., one of Citizens Fidelity's units. The portfolio will increase the unit's servicing portfolio to about $8 billion, including $5.2 billion serviced for outside investors, PNC said.

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