U.S. Bank Completes Acquisition of the Leader Mortgage Company, LLC, From First Defiance Financial Corp.Business Editors
MINNEAPOLIS--(BUSINESS WIRE)--April 1, 2002
U.S. Bancorp This article or section needs copy editing for grammar, style, cohesion, tone and/or spelling.
You can assist by [ editing it] now. (NYSE NYSE
See: New York Stock Exchange :USB USB
in full Universal Serial Bus
Type of serial bus that allows peripheral devices (disks, modems, printers, digitizers, data gloves, etc.) to be easily connected to a computer. ) today announced that its lead bank, U.S. Bank, has completed its acquisition of Cleveland-based The Leader Mortgage Company, LLC (Logical Link Control) See "LANs" under data link protocol.
LLC - Logical Link Control , a wholly-owned subsidiary of First Defiance Defiance, city (1990 pop. 16,768), seat of Defiance co., NW Ohio, at the confluence of the Auglaize and Maumee rivers, in a farm area; settled 1790, inc. 1836. Its manufactures include machinery and food, fabricated-metal, and glass products. Gen. Financial Corp. (Nasdaq:FDEF) in Defiance, Ohio
Defiance is a city located in the northwestern part of the U.S. state of Ohio, in Defiance County, about 55 miles southwest of Toledo. The population was 16,465 at the 2000 census. . The terms of the sale were not disclosed.
The Leader Mortgage Company, which operates nationally, had $506 million in assets as of Dec. 31, 2001. In 2001 it had $2.1 billion in mortgage production and $8.6 billion in servicing volume. The company will retain its name and specialization in servicing loans originated for various state and local housing authorities that offer home financing to low and moderate income borrowers.
"We expected that The Leader's niche business would perfectly complement what we offer through U.S. Bank Home Mortgage and it has," said Dan Arrigoni, president of U.S. Bank Home Mortgage. U.S. Bank Home Mortgage, coupled with The Leader's business, has more than $18 billion in mortgage production and just under $40 billion in servicing volume. It is now the number one originator and servicer of mortgages sold into Mortgage Revenue Bonds (MRBs) in the country.
First Defiance Financial Corp. is the holding company for First Federal Bank of the Midwest and First Insurance and Investments, headquartered in Defiance, Ohio. First Federal is a community banking service serving the northwest corner of Ohio, where it currently operates 14 full service branches. First Insurance and Investments is the largest property and casualty insurance in the Defiance, OH area and it also specializes in life and group health insurance. For more information, visit the company's web site at www.fdef.com.
Minneapolis-based U.S. Bancorp, with assets in excess of $171 billion, is the 8th largest financial services The examples and perspective in this article or section may not represent a worldwide view of the subject.
Please [ improve this article] or discuss the issue on the talk page. holding company in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The company operates 2,186 banking offices and 4,937 ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp is home of the Five Star Service Guarantee which assures customers of certain key banking benefits and services or customers will be paid for their inconvenience. U.S. Bancorp is the parent company of Firstar Bank and U.S. Bank. Visit U.S. Bancorp on the web at usbank.com and Firstar Bank at firstar.com.