ROSEMONT -- Wintrust Mortgage, a division of Barrington Bank & Trust Company, announced it acquired the mortgage banking business of American Homestead Mortgage LLC in Montana.
Terms of the acquisition were not announced, but officials said a significant portion of the purchase is conditioned upon future profitability.
Since 1993, AHM has become a leading home mortgage lenders in Montana's Flathead Valley, and its mission has been to make owning a home in the Big Sky country a dream come true.
"We've been deeply rooted in and committed to Montana," said AHM Managing Member Mark Delorme Sr. "We focus on helping to improve the lives of our clients and strengthening our communities here through homeownership."
Last year, AHM's employees originated nearly $55 million in loan volume and all of their employees will transition to Wintrust Mortgage.
"We're excited to partner with a successful organization that's compatible with our own," said Wintrust Mortgage President & CEO David Hrobon. "AHM complements our own customer-centric philosophies and family-oriented corporate culture. This acquisition was a great opportunity to combine resources to help better serve the communities we support."
Wintrust Mortgage has more than 190 locations throughout the United States,