HERMITAGE, Pa. - For the third time in a month, F.N.B. Corp. on Thursday announced an agreement to buy a Florida insurance agency.
The three pending deals, all expected to close in the first quarter, would give the banking company six agencies in the state.
The latest deal is for OneSource Group Inc., which has offices in Clearwater and Jacksonville.
The price was not disclosed. OneSource expects to rack up revenues of more than $6.3 million this year. It mostly sells commercial property and casualty coverage, but it also offers employee benefits and owns a third-party insurance administrator, Self-Insured Benefits Administrators.
Kevin C. Hale, executive vice president and chief operating officer of F.N.B.'s Florida division, said OneSource would operate as a division of F.N.B.'s Roger Bouchard Insurance Inc., in Clearwater.
OneSource's principals would continue as executive officers and would be members of Bouchard's board.
The other pending acquisitions are of the James T. Blalock agency in Venice and Don Ostrowsky & Associates Inc. in Cape Coral. F.N.B. is still seeking to buy an agency in the Naples area, Mr. Hale said.
The $3.9 billion-asset banking company also owns two insurance agencies in western Pennsylvania.
