—Pending acquisition will expand First American’s footprint in 11 states—
SANTA ANA, Calif., Jan. 12, 2022 – First American Financial Corporation (NYSE: FAF), a leading global provider of title insurance, settlement services and risk solutions for real estate transactions, announced today the signing of an agreement for First American’s acquisition of Mother Lode Holding Company, a California-based provider of title insurance, underwriting and escrow services for residential and commercial real estate transactions with 17 operating subsidiaries throughout the U.S., including its principal subsidiary Placer Title Company. The closing of the transaction is subject to regulatory approvals and the satisfaction of customary closing conditions.
With 92 offices in 11 states, Mother Lode Holding Company’s subsidiaries are premier brands within their respective real estate communities rooted in a 48-year track record of providing superior customer service. Mother Lode Holding Company’s subsidiaries operate primarily in California, Idaho, Montana, Wyoming, Texas, Arizona, Washington and New Mexico.
“Mother Lode Holding Company’s reach, expertise and commitment to superior customer service aligns well with our existing operations and will augment our efforts to expand our coverage in key growth markets,” said Dennis J. Gilmore, chief executive officer at First American Financial Corporation. “With Mother Lode Holding Company and its subsidiaries, we will expand our ability to serve customers throughout many of the strongest housing markets in the U.S.”
Customers of Mother Lode Holding Company’s operating subsidiaries will benefit from enhanced underwriting resources and the industry’s largest property and ownership dataset, as well as access to other industry-leading resources for residential transactions. Following the close of the transaction, Mother Lode Holding Company and its operating subsidiaries will continue to operate under their existing brands. Mother Lode Holding Company Chief Executive Officer Randy Bradley, Chief Operating Officer Lisa Steele and President Darrick Blatnick will remain with the company and manage the day-to-day operations.
“I’m excited about the new opportunities for our staff across our family of brands to serve our customers as the real estate market demonstrates continued strength,” said Bradley. “It was critical to our leadership team that any acquisition partner continue to support our employee-centric culture. First American's inclusion on the Fortune 100 Best Companies to Work For® list for six consecutive years reflects that shared value.”
In connection with the transaction, Houlihan Lokey is acting as financial advisor to Mother Lode Holding Company.