HeartLand Financial USA, Dubuque, Iowa, has hired a former Bear Stearns Residential Mortgage (BSRM) executive and his team from a failed Arizona thrift to lead what it hopes will be a growing mortgage operation.

HeartLand named Jeff Walton, a former senior managing director at BSRM and president of the mortgage divisions of First National Bank of Arizona and the First National Bank of Nevada, to lead a unit branded as National Residential Mortgage (NRM).

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