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QR Lending acquired by Florida bank
LAKE CITY, Fla. and MADISON, Wis. (1/5/12)--First Federal Bank of Florida, Lake City, Fla., has acquired Madison, Wis.-based QR Lending, a nationwide provider of residential mortgage services for credit unions and community banks.

Changes in the mortgage marketplace, including compliance and regulatory burdens brought on by the Dodd-Frank Act and new state licensing requirements, led QR Lending to seek an acquisition partner, said Tom Pisapia, QR Lending executive vice president.

QR Lending is now a division of First Federal Bank of Florida, and is led by the existing QR Lending executive team.

With assets of more than $950 million, First Federal Bank of Florida serves 50,000 customers from at branches and several lending centers in Florida.


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