Capital One Financial Corp. will acquire eSmartloan, an online home equity loan and mortgage provider, for $155 million in cash. Esmartloan is currently owned by the National Bank of Kansas City. The transaction is expected to close during the first quarter of 2005.
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Capital One Financial Corp. will acquire eSmartloan, an online home equity loan and mortgage provider, for $155 million in cash. Esmartloan is currently owned by the National Bank of Kansas City. The transaction is expected to close during the first quarter of 2005.
Under the terms of the agreement, eSmartloan will become a subsidiary of McLean, VA-based Capital One. Lance Melber, who currently serves as eSmartloan’s CEO, will continue to lead the business and will report to Larry Klane, Capital One’s executive vice president of Global Services.
