Peoples Mortgage Corp., a subsidiary of Peoples National Bank, has purchased Lincoln Mortgage Inc.
The signage at Lincoln’s only branch, 6809 Space Village Ave, near Peterson Air Force Base, is being changed to reflect the new ownership.
For more than 30 years, Peoples has been a community bank and mortgage company in El Paso Country.
Lincoln, which was founded in 1995, specialized in military and conventional home mortgages and will continue to do so under its new moniker.
People’s branch manager Debbie Laney, a former president with Lincoln, said that the new location will focus on military clientele and the acquisition will make it easier for the company to process loans and help clients.
“Now we’ll have in-house underwriting, instead of sending the loans elsewhere (for approval),” she said.
As part of Peoples, Lincoln can offer loans through El Paso Country bond programs and Colorado Housing and Finance Authority.