Wilmington-based Envision Mortgage Company will merge with North State Bank Mortgage, North State announced Monday morning in a news release.

Envision will become part of North State Bank Mortgage, the mortgage lending division of Raleigh-based North State Bank. The transaction is expected to close Dec. 31, Melanie Welsh, Envision's president, said Monday in a telephone conversation. She declined to disclose the deal's financial terms.

After the merger, the North State Bank Mortgage team will consist of 10 mortgage professionals. Envision will move this month from its space at 2004 Eastwood Road, Suite 201 into North State Bank Mortgage offices at 1411 Commonwealth Drive, Welsh said, adding that the merged organization will be recruiting aggressively to add new talent to its team.

Envision's strategic marketing plan and its relationships within the Wilmington community made it a desirable partner for North State Bank Mortgage, officials said in the news release.

"The Envision Mortgage brand is well known in the Wilmington market," Ken Sykes, president of North State Bank Mortgage, said in the release. "We are gaining Envision's great people and also capitalizing on the market share and strong reputation they have made for themselves. Bob Weber and Melanie Welsh are proven industry leaders with great experience and vision. Under their leadership we not only expect our market presence and market share to grow, but also the North State Bank Mortgage name and reputation for excellence."

Mortgage industry professionals Weber and Welsh founded Envision in 2010. Weber is the firm's CEO.

"We have been working with North State Bank Mortgage for years as one of our most preferred lenders," Weber said in the release.

North State Bank was founded in 2000 and has seven full-service offices in Wake and New Hanover counties.

Welsh said that the affiliation with the bank's mortgage division was a good fit for her organization.

"We will not only be able to offer additional conforming and non-conforming products, but also take advantage of more competitive interest rates," she said in the release.