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Mutual of Omaha Bank Acquires Synergy One Lending

May 04, 2018
Mutual of Omaha Bank has announced the completion of its purchase of Synergy One Lending Inc., thus enabling the company to expand into the reverse mortgage market.

Mutual of Omaha Bank has reached a definitive agreement to acquire Synergy One Lending, a national mortgage company based in San Diego.
 
Licensed in 45 states, Synergy One offers a full suite of home financing products and services including mortgages and reverse mortgages through a wide network of loan officers, mortgage brokers as well as direct sales channels. It will operate as a wholly-owned subsidiary of Mutual of Omaha Bank.
 
“Synergy One is an impressive company with a very talented team and dynamic management,” said Mutual of Omaha Bank Chairman and Chief Executive Officer Jeff Schmid. “We are a strong cultural fit–with both of us committed to collaboration, accountability and customer-focus–and our businesses are extremely complementary.  We are excited by the potential this acquisition offers both companies to expand and serve more customers in the mortgage and reverse mortgage markets.”
 
The acquisition also expands Mutual of Omaha Bank’s product offerings to include the Home Equity Conversion Mortgage (HECM). HECM products are offered through Synergy One’s Retirement Funding Solutions arm. Terry Connealy, President of Mutual of Omaha Mortgage, will oversee Synergy One’s operations on behalf of Mutual of Omaha Bank.
 
“Mutual of Omaha Bank is a respected, trusted brand with a complementary team of people, a significant base of capital and a commitment to excellence,” said Synergy One President and Chief Executive Officer Torrey Larsen. “The impact of two high performance teams working as one provides an undeniable opportunity to grow market share by executing every day on behalf of our customers. The combined company is fully aligned on vision, culture and purpose as we aim to build the best mortgage enterprise in the market, while maintaining our core values and commitment to serving others.”


 
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