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Chicago-based Federal Savings Bank acquires ICC Mortgage Services

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Chicago-based Federal Savings Bank acquires ICC Mortgage Services

Chicago-basedFederal Savings Bank ($284.5million as of Dec. 31, 2015), completed its acquisition of ICC Mortgage Services,a provider of residential mortgages based in Westbury, N.Y., National Mortgage News reported April 26.

Financial termsof the transaction were not disclosed.

ICC's formerpresident, Dean Sourial, and former secretary and treasurer, Jason Rappaport, joinedthe bank as senior regional vice presidents. Sourial will stay in New York to leadthe bank's newly formed lending platform dedicated to fraternal organizations andassociations of teachers, law enforcement and members of the military, accordingto the report.

The bank isa unit of National Bancorp HoldingsInc.