First Federal Bank of Florida Announces Acquisition of QR Lending

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Backed by financially strong bank partner, QR Lending better positioned to meet mortgage servicing needs of community banks and credit unions.

First Federal Bank of Florida
Together, QR Lending and First Federal are able to offer cost-effective products and new programs...

First Federal Bank of Florida today announced that it has acquired QR Lending, a nationwide provider of residential mortgage services for community banks and credit unions.

Effective December 21, QR Lending became a division of First Federal Bank of Florida, operating under the continued leadership of the current QR Lending executive team. QR Lending provides community financial institutions with a full range of residential mortgage services, including loan origination, processing, underwriting, servicing and technology. The company is known for providing responsive service and compliance expertise that greatly simplify burdensome operations for its lending customers.

“First Federal and QR Lending share the same business philosophy and firm commitment to delivering quality, personalized customer service in the markets we serve,” said Keith C. Leibfried, First Federal President, CEO and Chairman. “With the addition of QR Lending to the First Federal family, we are now positioned to provide a full array of value-added mortgage services to community banks and credit unions across the country.”

With assets of more than $950 million, First Federal Bank of Florida is one of the nation’s top-performing and financially stable community banks and serves 50,000 customers from 18 branches and several lending centers in Florida.

“Changes in the mortgage landscape, which include the known and unknown compliance and regulatory burdens brought on by the Dodd-Frank Act along with new state licensing requirements, made it a priority for us to reposition QR Lending by joining forces with a stable bank partner whose financial and operational strengths complement our organization,” said Tom Pisapia, Executive Vice President of QR Lending. “Together, QR Lending and First Federal are able to offer cost-effective products and new programs will soon be available, such as Rural Housing and FHA Manufactured Loans to help the nation’s credit unions and community banks meet their borrowers’ mortgage needs.”

About First Federal Bank of Florida
First Federal Bank of Florida has been serving customers since 1962 when it opened in Live Oak, Florida as a savings and loan association. Today First Federal is a community- based mutual bank with assets of more than $950 million that serves more than 50,000 customers from 18 retail branches and several lending centers in Florida. Headquartered in Lake City, Fla., First Federal offers customers diversified financial services including personal and commercial banking, lending, mortgages, investments and more. For more information about First Federal Bank of Florida, visit http://www.ffsb.com or contact us at 386-755-0600. First Federal Bank of Florida is Member FDIC and an Equal Housing Lender.

About QR Lending
QR Lending, a division of First Federal Bank of Florida, is a nationwide provider of residential mortgage services for community financial institutions, offering a quality resource for handling everything from originating to servicing mortgage loans. The QR Lending services are as flexible as they are comprehensive, allowing customers to select the areas of involvement that best fit their business needs. QR Lending works as an extension of a community bank or credit union’s internal team, and delivers the personalized and reliable services required to help institutions meet the mortgage needs of their borrowers. For more information about QR Lending’s services, visit http://www.qrlending.com or contact us at 888.766.4734.

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Keith Leibfried, President and CEO
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