January 12, 2022, Santa Ana, Calif.
. First American Financial Corporation (NYSE: FAF), a leading global supplier of title insurance coverage, settlement services and risk solutions genuine estate transactions, revealed today the signing of a contract for First American’s acquisition of Mother Lode Holding Company, a California-based service provider of title insurance, underwriting and escrow services for residential and commercial realty deals with 17 operating subsidiaries throughout the U.S., including its primary subsidiary Placer Title Business. The closing of the transaction goes through regulative approvals and the fulfillment of customary closing conditions.
With 92 offices in 11 states, Mom Lode Holding Business’s subsidiaries are leading brand names within their particular property neighborhoods rooted in a 48-year track record of offering remarkable customer support. Mom Lode Holding Company’s subsidiaries operate primarily in California, Idaho, Montana, Wyoming, Texas, Arizona, Washington and New Mexico.
“Mother Lode Holding Business’s reach, knowledge and dedication to exceptional customer support lines up well with our existing operations and will augment our efforts to broaden our coverage in crucial development markets,” said Dennis J. Gilmore, ceo at First American Financial Corporation. “With Mom Lode Holding Business and its subsidiaries, we will broaden our capability to serve customers throughout a lot of the strongest real estate markets in the U.S.”
Consumers of Mom Lode Holding Business’s operating subsidiaries will benefit from boosted underwriting resources and the market’s biggest home and ownership dataset, along with access to other industry-leading resources for property deals. Following the close of the deal, Mom Lode Holding Business and its operating subsidiaries will continue to operate under their existing brands. Mom Lode Holding Company Chief Executive Officer Randy Bradley, Chief Operating Officer Lisa Steele and President Darrick Blatnick will stay with the business and handle the everyday operations.
“I’m ecstatic about the brand-new chances for our staff throughout our household of brands to serve our customers as the property market shows ongoing strength,” said Bradley. “It was critical to our leadership team that any acquisition partner continue to support our employee-centric culture. First American’s addition on the Fortune 100 Finest Business to Work For ® list for 6 consecutive years shows that shared worth.”
In connection with the transaction, Houlihan Lokey is serving as monetary consultant to Mother Lode Holding Business.About First
American
Very First American Financial Corporation (NYSE: FAF) is a leading service provider of title insurance, settlement services and risk solutions genuine estate deals that traces its heritage back to 1889. Very first American likewise offers title plant management services; title and other real estate records and images; appraisal products and services; home guarantee items; banking, trust and wealth management services; and other associated services and products. With overall earnings of $7.1 billion in 2020, the business uses its products and services directly and through its agents throughout the United States and abroad. In 2021, First American was called to the Fortune100 Finest Business to Work For ® list for the 6th consecutive year. More details about the company can be found at www.firstam.com.About Mom
Lode Holding Company
Mother Lode Holding Company provides title insurance, underwriting and escrow services for property and business real estate deals through its 17 operating subsidiaries in the U.S. With 92 offices in 11 states, Mom Lode Holding Company’s subsidiaries operate mostly in California, Idaho, Montana, Wyoming, Texas, Arizona, Washington and New Mexico. Mom Lode Holding Company’s primary subsidiary, Second Title Business, was founded in 1973. More info about the company can be discovered at www.mlhc.com.
Positive Statements
Specific statements made herein constitute forward-looking statements within the significance of Area 27A of the Securities Act of 1933, as modified, and Area 21E of the Securities Exchange Act of 1934, as amended. These positive declarations can be recognized by the fact that they do not relate strictly to historical or present realities and might contain the words “think,” “expect,” “anticipate,” “intend,” “plan,” “predict,” “price quote,” “task,” “will be,” “will continue,” “will likely result,” or other similar words and expressions or future or conditional verbs such as “will,” “may,” “might,” “should,” “would,” or “could.”
These forward-looking statements include, without limitation, statements relating to the conclusion of the transaction and the timing thereof in addition to the impacts thereof. These positive declarations are based on existing expectations and assumptions that might show to be incorrect. Dangers and uncertainties exist that may cause outcomes to vary materially from those stated in these positive statements. Aspects that might cause the anticipated results to vary from those described in the forward-looking statements include, without constraint, the failure to acquire essential governmental or other approvals in a timely style, or at all; the failure of certain closing conditions to be pleased; obstacles to the proposed transaction or problems associated thereto; or regulative- or business-related obstacles.
These positive declarations speak only since the date they are made. First American does not undertake to update forward-looking statements to show situations or events that take place after the date the forward-looking declarations are made.
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