FLOWOOD — Community Bank has purchased Mortgage Consultants Inc. of Flowood for an undisclosed sum.
Mortgage Consultants is a privately-held mortgage company. The 20-year-old business was the highest-rated company in Mississippi in terms of growth for 2002, and ranked 29th overall in the nation, according to Broker Magazine.
Community Bank will be combining its mortgage operations with Mortgage Consultants and operating out of the company’s two-year-old headquarters on Lakeland Drive.
Mortgage Consultants president and CEO Ralph Hays will lead the new mortgage group as president. Sandra Cagle and Kevin Langford, formerly co-owners with Hayes of Mortgage Consultants, will serve as senior vice president and vice president respectively. Community Bank’s Janice Shumaker will also be a senior vice president in the new group.