Wilson Bank Holding in Lebanon, Tenn., has formed a mortgage joint
venture.
The $4.1 billion-asset company said in a press release Thursday
that it had created Encompass Home Lending with Celebration Homes and Willow
Branch Homes.
Wilson said the effort was profitable in its first month of
operations.
"We have been impressed with both builder teams as well as the
leadership and mutual values in place that will be key to growing this
relationship,” the company said in the release. “This new home purchase joint
venture will give us the opportunity to serve hundreds of new customers around
the Middle Tennessee area.”
The announcement comes at a time when interest rates are rising
quickly, leading a number of banks to take a look at their mortgage strategies.
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