Mortgage lending specialist Bank 34 said it has opened new branches in Arizona and New Mexico and named Jim Lyddon as director of residential lending to oversee the expansion.

"This strategic step is consistent with our 80-year history of continually seeking to prudently expand our mortgage financing footprint geographically and competitively,” Bank 34 CEO Jill Gutierrez said. “Jim's proven mortgage banking leadership experience, spanning nearly 30 years of owning and managing mortgage firms regionally and nationally, provides an ideal fit for our next chapter."

Through its facilities in Maricopa County and Tucson, Arizona; southern New Mexico; El Paso, Texas, Bank 34 reported its all-time best mortgage performance during the first two quarters of 2015.

Since 1934, Bank 34 has remained an independent alternative to large-scale banks. Having established a loan production office in Scottsdale in 2012 and acquired Bank 1440 in Arizona last year, Bank 34 now has full service banking centers in both Scottsdale and Peoria, Arizona.

"As the complexities and financial requirements of the mortgage business continue to increase, executing a diligently planned growth model on the already strong foundation of the Bank 34 franchise is a unique opportunity to set the standards and pace of positive change for our mortgage customers," Lyddon said.