Bank of San Antonio in Texas is expanding its insurance services.
The $400 million-asset bank said Tuesday that it had acquired Luhn-McCain Insurance, also in San Antonio. The bank did not disclose the price.
Bank of San Antonio plans to merge the insurance agency into its Bank of San Antonio Insurance Group. The insurance agency will keep the Luhn-McCain brand, according to the San Antonio Business Journal.
The insurance agencies offer similar coverage, including employee benefit services and property and casualty insurance.
"Having Luhn-McCain join us, and retaining its identity, will further strengthen the portfolio of services we can offer to our banking clients," Brent Given, the bank's president and chief executive, told the publication.