AmeriSave to Acquire CertusBank's Mortgage Division
AmeriSave Mortgage Corporation has issued a Letter of Intent to CertusBank NA to acquire a large portion of its mortgage division, including the majority of its team and facilities. AmeriSave has been seeking a strong mortgage originator for possible acquisition, and this agreement will allow the company to expand its footprint by establishing a traditional retail mortgage origination channel to complement its online origination platform. CertusBank, headquartered in Greenville, S.C., has recently undergone a strategic transition toward a more traditional community banking business model and identified mortgage as an area with opportunity for significant changes. “AmeriSave is excited to partner with a very experienced group of mortgage professionals who we truly believe will excel under the same business model we have had in place for many years and which allows us to enter the only remaining segment of the mortgage business we have previously had no presence,” said Ed Abufaris, president of AmeriSave.