Crockett National Bank Acquires Legacy Mutual Mortgage
SAN ANTONIO, May 9, 2012 /PRNewswire/ -- Dan Diepenhorst, president and chief executive officer of Legacy Mutual Mortgage (operating name of Gardner Financial Services, LTD.), has announced that the company has sold controlling interest to Crockett National Bank. Representing Crockett National Bank is Todd Huckabee, chief executive officer.
Last year, Legacy Mutual, headquartered in San Antonio, closed $440 million in home loans. This was the highest home purchase volume in the San Antonio metro area. This year, the company is on pace to exceed $600 million in home loans while expanding operations to include additional offices in San Antonio, New Braunfels, Boerne, Fort Worth and Houston.
Legacy Mutual's ownership was previously held by Bob Gardner, founder, Tom Robins, San Antonio attorney, Jim Horan, Legacy Mutual's previous chief financial officer, Diepenhorst, and Josh Sigman, vice president of sales. Diepenhorst and Sigman will remain partners with the Bank and run the day-to-day operations of the mortgage company.
Diepenhorst said, "Crockett's real estate background and Legacy Mutual's mortgage leadership fit very well together. Our management teams are a great fit with regard to aspirations, work ethic, and the love for doing Texas real estate finance. We expect great things through the combination of these two companies."
Crockett, headquartered in San Angelo, has offices in San Antonio, Austin and Ozona. The bank has a history of rural real estate mortgage lending and commercial real estate loans. Due to the extensive real estate background of the Bank, the acquisition of Legacy Mutual is a great complement to the Crockett's ongoing lines of business.
The partnership with Crockett will provide Legacy Mutual with increased lending opportunities, including construction and portfolio loans. Crockett's substantial capital position will also continue to fuel the expansion of Legacy Mutual's mortgage operation.
Crockett National Bank is a FDIC-insured institution with branches and offices throughout Texas. Crockett has grown to over $300 million in assets and was ranked ninth in overall performance compared to 574 Texas banks. Crockett can be found on the web at http://www.crockettnationalbank.com.
For more information, contact
Jenny Love, Assistant Vice President
(800) 588.6714,
[email protected]
SOURCE Crockett National Bank
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