First Federal Bank Closes on Watson Mortgage Corp. Asset Acquisition

May 31, 2024 by First Federal Bank

First Federal Bank announces the acquisition of assets and welcomes employees from Watson Mortgage Corp. The transaction closed today.

The new team members will augment the existing First Federal markets and continue to support Watson’s mortgage customers throughout the entire Watson footprint.

As a community-based mutual institution headquartered in Lake City, Florida, the bank is owned by its customers rather than stockholders, and it has 25 branches in the Southeast and operations in the Midwest. John Medina, President, and CEO, shares, “Our ongoing commitment to our customers and the residential mortgage sector is evidenced by this transaction. We welcome the new team members who are skilled in serving Watson Mortgage customers.”

The asset acquisition enables First Federal to better serve Watson customers by offering additional products and tools. “We look forward to serving more customers through the Watson footprint and continuing to finance the dream of homeownership,” says Paul Ottendorf, Residential Lending Division President. New customers will transition immediately.

About First Federal Bank

First Federal Bank is a leading financial institution committed to serving the needs of its customers and communities. With banking locations in northern and central Florida and coastal South Carolina, and mortgage operation centers in Jacksonville, FL, Alpharetta, GA, Madison, WI, and Overland Park, KS, First Federal Bank is a community-owned bank that provides a wide range of consumer and commercial banking solutions, services, and loans. Additionally, SBA and USDA customers are served by lending offices across the Southeast and Midwest, and mortgages are offered nationwide. With over $3.9 billion in assets, First Federal is headquartered in Lake City, Florida and has a steadfast focus on innovation and customer satisfaction. The bank is consistently recognized with a “5-Star, Superior” rating from BauerFinancial, Inc. for over 20 years. Furthermore, Newsweek named First Federal the “Best Small Bank in Florida” for four consecutive years from 2020 to 2023 and “Best Regional Bank” for 2024. To learn more, visit the website at .

About Watson Mortgage Corp.

Established in 1994, Watson Mortgage Corp. has been a trusted partner in helping customers achieve their dream of homeownership for over 30 years. Our mission is centered on providing a legendary quality of service that leads to customer satisfaction and lasting relationships. Each member of our team is dedicated to prioritizing your needs and keeping you informed every step of the way, from the initial home loan inquiry to closing day, ensuring an exceptional home loan experience. We are committed to serving our communities as the leading lender of choice. Our vision is focused on exceeding customer expectations throughout the entire home loan process, delivering legendary quality of service to all customers and business partners. We are honored to play a role in delivering the keys to the people we serve, making homeownership dreams a reality.

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