Inlanta Mortgage, a mortgage banker since 1993, has announced that American Foundations MortgageBanc’s retail offices and operations are merging with Inlanta through a strategic agreement. American Foundations MortgageBanc was previously a wholly-owned subsidiary of Generations Bancorp Inc. Terms of the transaction were not disclosed.
“We’re excited that American Foundations MortgageBanc will be adding to the strength and quality that Inlanta has demonstrated over our 17 years in this business,” said John Knowlton, president and founder of Inlanta Mortgage. “As a conservative Midwest lender, American Foundations is a group of quality mortgage lending professionals and their core values are similar to ours and make this a perfect fit. This merger strengthens our presence in Illinois and Wisconsin.”
American Foundations MortgageBanc has retail branches in Illinois and Wisconsin that will change their name to Inlanta Mortgage. The merger will strengthen Inlanta Mortgage’s leadership team. Nicholas J. DelTorto, president of American Foundations MortgageBanc Inc. will join Inlanta Mortgage as executive vice president. He has more than 28 years of industry experience. In addition, John L. Watry will become chief financial officer of Inlanta Mortgage; he was chief operating officer at American Foundations MortgageBanc.
“We’re pleased to be merging with Inlanta Mortgage and what the new combined company can offer its employees and customers," said DelTorto. "Inlanta is a top-notch organization that is highly regarded in the industry and marketplace. We look forward to continuing to provide our customers with more products and great service."
For more information, visit www.inlantapartners.com.