Wilson Bank Holding in Lebanon, Tenn., has formed a mortgage joint venture.
The $4.1 billion-asset company said in a press release Thursday that it had created Encompass Home Lending with Celebration Homes and Willow Branch Homes.
Wilson said the effort was profitable in its first month of operations.
The announcement comes at a time when interest rates are rising quickly, leading a number of banks to take a look at their mortgage strategies.