First Federal Bank in Lake City, Fla., has agreed to sell its third-party mortgage origination division.
The $4.4 billion-asset bank said in a press release that it will sell the division, including QRL Financial, to Mortgage Forward in Chicago, a credit union service organization affiliated with Great Lakes Credit Union. The price wasn’t disclosed.
The sale is expected to close in the third quarter.
The sale “allows our talented and dedicated team supporting TPO clients and institutions to continue to flourish,” John Medina, First Federal’s president and CEO, said in the release. “First Federal’s 2026 strategic plan emphasizes efficiency and execution, which includes a strong commitment to the retail mortgage market. This agreement allows us to hone our focus.”