Fidelity National Financial Announces Acquisition of Land Trust Business Assets of LaSalle Bank
|October 14, 2005|
JACKSONVILLE, Fla., /PRNewswire-FirstCall/ -- Fidelity National Financial, Inc. (NYSE: FNF), a Fortune 500 provider of products and outsourced services and solutions to financial institutions and the real estate industry, today announced that its wholly owned subsidiary, Chicago Title Land Trust Company, has acquired the Land Trust business assets of LaSalle Bank National
Association ("LaSalle Bank"), one of the nation's oldest providers of land trustee services.
Under the terms of the acquisition, the Land Trust business assets of LaSalle Bank will be merged into the current operations of Chicago Title Land Trust Company, creating the largest provider of land trustee services in the Eastern United States. Chicago Title Land Trust Company will assume more than 34,000 existing land trusts through the acquisition, with key members of the LaSalle Bank Land Trust operations joining Chicago Title Land Trust Company to provide ongoing continuity to the former clients of LaSalle Bank.
"This strategic acquisition and consolidation of operations will enhance both the efficiency and quality of services that we can provide to our customers and solidify our commitment to the expansion of the Chicago Title Land Trust Company business," said Raymond R. Quirk, President of FNF. "The Chicago Title Land Trust Company will continue to operate as a wholly owned subsidiary within our title insurance business and will become a part of the publicly traded Fidelity National Title Group, Inc."
SOURCE Fidelity National Financial, Inc.