Co-Founded in 1981, by Bill Dallas, First Franklin grew from a small retail brokerage to a full-service wholesale mortgage lender. Bill Dallas served as Founder, Chairman & Chairman Emeritus from 1981 to September 2003. In August of 1994, First Franklin was acquired by DLJ Merchant Banking. Two years later, in November of 1996, CIVC Partners, Dallas Capital Management, and a group of private investors invested $28.5 million in Arrowhead, LLC for the purpose of reacquiring First Franklin. In August of 1999, the company was acquired by National City Corporation (NYSE: NCC) for $325 million in cash.

On September 6, 2006 Merrill Lynch announced the purchase of First Franklin from National City Bank. Merrill Lynch agreed to pay $1.3 Billion to purchase First Franklin and its related business units. The transaction closed in December 2006.

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