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Irwin Mortgage Corp. here has agreed to sell part of its traditional retail and all of its net branching and credit union lending operations to two separate acquirers. The price was not disclosed.
American Home Mortgage, Melville, N.Y., is purchasing 23 retail and net branches, the Concord, Calif., loan operations center and all of the credit union business.
Meanwhile, Pinnacle Financial Corp., Orlando, Fla., is acquiring 17 branches and the Carson, Calif., loan operation center.
Irwin is keeping 21 retail branches in the Midwest and East. As a result of these...