Transnational to Acquire AMC Mortgage

Transnational Financial Network Inc., a San Francisco-based wholesale and retail mortgage banking firm, has announced the signing of a letter of intent to acquire AMC Mortgage, Austin, Texas.The purchase price would total up to 1 million shares of TFN's common stock when an earn-out provision is achieved, the company said. AMC would continue to be managed by its principal owner, Darryl Crawford. Joseph Kristul, TFN's chief executive officer, said the transaction would further the company's expansion in the Central Texas region. "Our recent acquisition of Texas Capital Bank's mortgage division doubled the size of our company while reducing our exposure to California and Arizona to less than half of our now total volume," Mr. Kristul said. "Our goal is to continue diversifying our business geographically as we build a multibillion-dollar origination franchise." The company can be found on the Internet at http://www.transnational.com.