Providence Mortgage mergers with Conn. company

CHESHIRE, Conn. – Rhode Island-based Province Mortgage Associates Inc. announced last week a merger with a Connecticut-based mortgage company.

The deal between Province and the Cheshire, Conn.-based mortgage company Constitution Mortgage sprouted from a conversation had between Constitution senior mortgage adviser Susan Rubino and Province President David Currie.

The tale goes like this: Rubino’s daughter and son-in-law needed a specific mortgage product to buy a new home in Rhode Island, so Rubino reached out to Currie at Province to discuss options. She quickly discovered that Currie had grown up in Cheshire and actually went to high school with Rubino’s daughter.

“Perfect timing and a common purpose for providing a world-class mortgage experience became the next phase of Constitution Mortgage becoming Province Mortgage Associates,” according to a press release.

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Ken Penfield, with 30 years experience in the banking industry, formerly served as a manager for the mortgage department at Constitution Mortgage and he says he is excited about the company’s future, saying Province standards matched those of Constitution.

“I’ve always been associated with community banking,” Penfield said in a prepared statement. “Everyone knows Constitution Mortgage within the community and we are community people.”

Financial deals of the merger were not disclosed. The Cheshire company will assume the Province name, according to the press release.

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