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South Carolina-based Movement Mortgage plans to acquire Danvers-based Mortgage Network Inc. in a deal that Movement Mortgage said would expand its East Coast market share.

Movement Mortgage said in a statement posted Friday on its website that it expected the transaction to add $2 billion in annual mortgage loan volume to Movement’s origination platform.

Mortgage Network, which was founded in 1988 by Robert McInnes and Albert Pare, has about 35 East Coast branches in 12 states from Maine to Florida. Movement said the acquisition would increase its footprint by 250 mortgage professionals and 31 branch offices.

“After 34 years of building the Mortgage Network family, it was time to find a new home for my team that values their employees and customers as much as we always have,” McInnes, the lender’s CEO, said in the statement. “I strongly believe Movement is that company.”

Mortgage Network’s business will be integrated into Movement’s, the statement said. Movement said it currently has more than 550 branches nationwide and 1,500 loan officers. Movement Mortgage also said it expects to keep Mortgage Network’s staff across the acquired branch network.

“We want to grow, and we look for teams and individuals in alignment with Movement’s mission to love and value people,” Movement CEO Casey Crawford said in the statement. “We found that and more in the Mortgage Network team. I’m honored to welcome these talented and purpose-driven individuals to Movement. Together, we’ll make a meaningful difference in our industry and communities.”

Mortgage Network last month had announced the opening of a new Quincy office at One Adams Place on Willard Street. The office has five mortgage professionals led by branch manager John Folino.

Through the first three quarters of 2022, Mortgage Network had $877 million in residential mortgage volumes in Massachusetts, including $672 million in purchase volumes, according to The Warren Group, publisher of Banker & Tradesman. Last year, Mortgage Network had $2.42 billion in residential volumes for the full year, including more than $1 billion in purchase activity.

Movement Mortgage had $508.4 million in Massachusetts residential volumes in 2021, including $341 million in purchase mortgages. For the first three quarters of 2022, Movement Mortgage had $412.82 million in residential volumes – including $335 million in purchase loans.

The company saw a substantial year-over-year decline in its Massachusetts originations as the larger housing market slowed in the third quarter, however, bringing its activity back to pre-pandemic levels. The company issued only 499 purchase and refi loans worth $224 million from July to September, compared to 1,322 worth $321 million in the same period last year and 1,151 worth $237 million in the third quarter of 2019.

Houlihan Lokey was Mortgage Network’s financial adviser on the deal, and Pierce Atwood was the legal adviser. Troutman Pepper was Movement Mortgage’s legal adviser.