Northpointe Bancshares, Inc. filed an 8-K on October 28, 2026, disclosing a definitive agreement to sell its distributed retail and consumer direct mortgage origination channels to CMG Mortgage Inc.

Key Highlights

  • Definitive agreement signed: The purchase and lease assumption agreement with CMG Mortgage Inc. was entered into on October 26, 2026.
  • Compensation structure: CMG will pay Northpointe Bancshares 15 basis points (0.15%) on any first-lien mortgage originations closed through the Mortgage Origination Channels until December 31, 2028.
  • Lease assumption: CMG will also assume any leases associated with the Mortgage Origination Channels, where possible, according to the filing.
  • Expected closing: The transaction is expected to be completed by November 30, 2026, subject to customary closing conditions.
  • Prior disclosure: The agreement relates to a non-binding letter of intent previously disclosed in the company's October 20, 2026 earnings release.
  • Emerging growth company: Northpointe Bancshares identified itself as an emerging growth company in the filing.

Northpointe Bancshares Enters Definitive Agreement to Transfer Mortgage Origination Channels

Northpointe Bancshares, Inc. (NYSE:NPB), the holding company of Northpointe Bank, disclosed in an 8-K filed on October 28, 2026, that it has entered into a definitive purchase and lease assumption agreement with CMG Mortgage Inc. for the sale of its distributed retail and consumer direct mortgage origination channels. According to the filing, the agreement was signed on October 26, 2026, and follows a non-binding letter of intent that was previously disclosed in the company's October 20, 2026 earnings release.

Under the terms of the agreement, as described in the filing, CMG will pay the company 15 basis points (0.15%) on any first-lien mortgage originations closed through the Mortgage Origination Channels until December 31, 2028. CMG will also assume any leases associated with the Mortgage Origination Channels where possible. The filing notes that the agreement "contains customary closing conditions, representations and warranties, covenants, and termination rights" and that the transaction is expected to be completed by November 30, 2026.

The 8-K was signed by Bradley T. Howes, Executive Vice President and Chief Financial Officer of Northpointe Bancshares, Inc. A press release dated October 28, 2026, announcing the transaction was attached to the filing as Exhibit 99.1 and incorporated by reference.

What Was Disclosed

Northpointe Bancshares disclosed a definitive agreement to sell its distributed retail and consumer direct mortgage origination channels to CMG Mortgage Inc., with CMG paying 15 basis points on qualifying first-lien originations through December 31, 2028, and assuming associated leases where possible.