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Continuing its string of insurance agency deals, BB&T Corp. announced Friday that it is buying the life and property and casualty insurance divisions of Crump Group Inc. for about $570 million in cash.
February 3 -
The Minneapolis bank has agreed to buy a trust business from Union Bank. That is its third deal in less than a week.
February 1
Two community banks have scored deals for niche investment businesses in their home states.
MainSource Bank in Greensburg, Ind., has agreed to buy the assets managed by Krumme and Brock Investment Services in Seymour, Ind. The employees of the Krumme firm, including owners Galen Krumme and Cliff Brock, would join MainSource Bank's wealth management division.
MainSource recently expanded into the Seymour market, and the deal would broaden its products and services, Daryl R. Tressler, the president and chief executive of MainSource, said in a news release Thursday.
Both Krumme and MainSource Investment Services offer securities through Raymond James Financial Services. MainSource is a unit of the $2.7 billion-asset MainSource Financial Group (MSFG).
Separately, Oregon Pacific Bank in Florence said Thursday that it had acquired the trust and wealth management division from South Valley Bank & Trust in Klamath Falls, Ore. Oregon Pacific will house the unit in its fiduciary services organization.
The $13.5 billion-asset
Diane Dombras, the former South Valley executive responsible for the bank's trust department, will join Oregon Pacific as manager of its trust and wealth management in the Medford office.
Oregon Pacific's parent, the $168 million-asset
The financial terms of both agreements were not disclosed.
As traditional bank M&A has remained slow,
Larger banks, such as
