TodayFidelity Homestead Savings Bank announced that it has acquired NOLA Lending Group, LLC, effective immediately. The announcement was made by Alton McRee, president and CEO of Fidelity. The purchase aligns two major organizations in the residential mortgage arena.

Alton McRee, Fidelity Homestead Savings Bank president and CEO (Photo: Business Wire)

Alton McRee, Fidelity Homestead Savings Bank president and CEO (Photo: Business Wire)

Fidelity is the largest mutual bank in the Gulf South region, and the acquisition of NOLA Lending dramatically increases its stake in the residential mortgage market. Together, Fidelity and NOLA Lending will have a combined roster of approximately 400 employees. Moving forward, NOLA Lending will operate as a division of Fidelity Homestead Savings Bank, bolstering the bank's existing residential loan operation.

McRee said, "This is a win for both companies, as Fidelity holds one of the strongest capital positions among community banks in the region, and NOLA Lending has a strong reputation with realtors, consumers and lenders for fast and efficient processing of residential loans in the Southeast."

Katie Andry Crosby, chairman of the Fidelity board of directors, added, "Acquiring NOLA Lending positions Fidelity Homestead Savings Bank for optimal future growth in the Gulf South region."

For over 100 years, Fidelity has grown with the community's changing needs to offer a full array of banking services, including commercial, residential and consumer loans. With $826 million in assets, Fidelity currently has 18 branches throughout Southeastern Louisiana, including its newest branch located in Benson Tower in the Central Business District of New Orleans.

Founded in 2002, NOLA Lending specializes in residential mortgages. In ten short years, it has rapidly grown to become one of the largest mortgage lenders in the region with its loan volume over the last two years exceeding $1.25 billion and 24 offices across Louisiana, Mississippi, Tennessee, Florida and Alabama.

"We believe that joining forces with Fidelity will infuse NOLA Lending with the resources it needs to continue positive growth and remain a residential mortgage leader in all our markets," said Richard LaNasa, managing partner of NOLA Lending.

Fidelity is dedicated to preserving NOLA Lending's formula for residential lending, ensuring a smooth transition for all real estate professionals accustomed to working with NOLA Lending. NOLA Lending managing partners LaNasa and Ashton Noel will remain intimately involved in the day-to-day operations of the new division by serving as executive vice presidents responsible for managing the bank's NOLA Lending Division along with serving on Fidelity's Senior Management Committee.

According to NOLA Lending's Noel, "Together, Fidelity and NOLA Lending will create a stronger Fidelity for tomorrow."

For more information, visit www.fidelityhomestead.com. Follow Fidelity Homestead Savings Bank on Facebook and Twitter @FidelityHSB.

About Fidelity Homestead Savings Bank:

Founded in 1908, Fidelity Homestead Savings Bank is a mutual financial institution chartered by the state of Louisiana. Fidelity provides a full array of banking services, with high integrity and personalized service to communities throughout Southeast Louisiana. For more information, visit http://www.fidelityhomestead.com.

About NOLA Lending:

Since opening in 2002, NOLA Lending Group has rapidly grown to become one of the largest mortgage lenders in the region. Specializing in residential mortgages, NOLA Lending's mission is to provide unprecedented client service and superior quality lending practices with uncompromising integrity. NOLA Lending has 24 offices across Louisiana, Mississippi, Tennessee, Florida and Alabama. For more information, visit https://nolalending.com.

Betsie Gambel, Gambel Communications
betsie@gambelpr.com
(o) 504.324.4242
(c) 504.319.3442