First United in Oakland, Md., has acquired First Mortgage Services in Cumberland, Md.
The $1.8 billion-asset First United said in a press release that First Mortgage has originated nearly $900 million of consumer mortgages since 1997. The price wasn’t disclosed.
The acquisition “will enhance our ability to assist our customers and market areas,” Carissa Rodeheaver, First United’s chairman, president and CEO, said in the release.
“The acquisition is expected to result in greater access to mortgage financing outlets and to enhance our coverage of the Allegany County market,” she added.
Jim Stemple, First Mortgage’s co-founder and owner, is expected to remain at the lender.