The parent of Howard Hanna Real Estate Services said Wednesday it had acquired 1st Priority Mortgage Inc. and Nothnagle Home Securities, completing the last stage of its purchases of Orchard Park, N.Y.-based RealtyUSA and Rochester, N.Y.-based Nothnagle Realtors.
Following receipt of regulatory approvals, Pittsburgh-based Hanna Holdings Inc. closed on its acquisition of the two mortgage brokerages, which were the respective subsidiaries of the larger real estate agencies. Hanna bought RealtyUSA last year and Nothnagle in 2015.
The two mortgage firms merged earlier this year, creating a single entity that funded $387.1 million in mortgage lending in New York State last year. With Hanna's existing mortgage companies, the combined group expects to originate over $2 billion in loans over the next 12 months.
Brooke Anderson-Tompkins remains president of 1st Priority, while former RealtyUSA and 1st Priority owner Merle L. Whitehead will be chairman. Whitehead is also chairman of New York State operations for Hanna, which is now the nation's third-largest real estate company with 270 offices and 9,000 agents and employees. It has 93 offices and 3,070 agents and employees in New York.
"We are thrilled that 1st Priority, along with their great leadership, employees and mortgage counselors will be added to the Hanna family," said Hanna Chief Executive Officer Helen Hanna Casey. "We look forward to serving the New York market with the finest mortgage products and services offered."
