The post was vacant since Kristy Fercho left to run Wells Fargo Home Loans in July.
Sierra Bancorp in Porterville has formed dedicated lending teams in Sacramento and Greater Los Angeles in its bid to accelerate loan growth following a sluggish 2019.
The company acquired ResX Warehouse Lending from People's United Financial.
Merchants has agreed to buy NattyMac, a company it has been in business with since 2014.
The March acquisitions of a warehouse lending portfolio and eight California bank branches helped fuel a 22% increase in net income.
The Michigan company has been acquisitive lately, buying California branches and a wealth advisory firm.
Growth outside of its residential mortgage business contributed to Flagstar Bank beating first-quarter earnings estimates, company executives said.
