First Commercial Bank

First Commercial Bank announced July 1 that its wholly owned subsidiary, First Commercial Mortgage Co., completed the purchase of residential mortgage loan servicing rights from Simmons First National Bank located in Pine Bluff.

FCMC will acquire approximately $1.2 billion in loan servicing rights, represented by over 24,000 mortgages held on properties predominately located in Arkansas, Texas, Kansas and Oklahoma.

Once the merger of First Commercial with Regions Financial Corp. is complete, the combined portfolios of Regions Mortgage and FCMC will approximate $23 billion, making Regions one of the top 35 mortgage loan servicers in the country.

First Commercial Mortgage offers mortgage financing in Arkansas and Tennessee and conducts mortgage servicing on a nationwide basis.