1st of America Buys Insurance Specialist

First of America Bank Corp., Kalamazoo, Mich., said Friday that it has bought a financial services firm that will expand its menu of insurance and investment products.

Scott, Doerschler, Messner & Gauntlett, a 50-year-old firm based in Kalamazoo, specializes in business life insurance, executive benefits, estate and financial planning, and employee benefits. Terms of the deal were not disclosed.

"This addition brings a well-respected group of insurance professionals to our growing financial services area and allows us to better meet our customers' insurance, financial planning, and employee benefits needs," said R. William Shauman, executive vice president of the trust and financial services division at First of America, in a prepared statement.

Scott Doerschler has 300 business and 2,000 individual clients. The firm will continue to do business under its current name.

First of America, with $22 billion of assets, does business in Michigan, Illinois, Indiana, and Florida.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER