Atlanta-based AmeriSave Mortgage Corp. is reportedly buying the mortgage and wealth management businesses of Greenville, S.C.-based CertusBank; however, terms of the deal have not yet been made public.
As per a report on local news website GreenvilleOnline, the acquisition brings an end to CertusBank's restructuring amid financial losses.
About 120 of CertusBank's 530 employees will be affected by the acquisition, according to the report; however, many of them are expected to find new roles at AmeriSave.
CertusBank, which launched in 2011, will continue to focus on its other products and services, according to the report.
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