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June 7, 2024

Wisconsin bank plans to open loan production office in CT

Contributed Ixonia Bank will open a loan production office at 707 Main St. in Branford.

A Wisconsin-based bank has received regulatory approval to open a loan production office in Connecticut where it will provide mortgage lending services.

State Banking Commissioner Jorge L. Perez has approved an application by Ixonia Bank to open the loan production office at 707 Main St. in Branford.

The office will be branded as Novus Home Mortgage, a division of Ixonia Bank. It will not provide any commercial or deposit activity.

The underwriting and generation of closing documents will take place at Ixonia Bank’s corporate office in Brookfield, Wisconsin, a spokesman for the state Department of Banking said. Closings will take place at various settlement agent offices in Connecticut.

The new location will allow consumers to work with a local mortgage lender and have face-to-face contact with an originator, the spokesman said.

Ixonia Bank, which has $750.2 million in assets, is also seeking approval to originate mortgage loans with the Connecticut Housing Finance Authority.

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