BIRMINGHAM, Ala. Regions Financial Corp. has acquired Rebsamen Insurance Inc., a multiline insurance agency in Little Rock.
No price was disclosed. The acquisition was announced Thursday.
Rebsamen generated over $26 million of revenue last year and has offices in Little Rock, Springdale, and Fort Smith, Ark., and in Springfield, Mo. About 70% of its business is commercial property and casualty insurance, but it also sells life, group, personal lines, and aviation insurance.
Allen J. McDowell will remain president and chief executive officer of Rebsamen, which will continue to operate under that name and its current management team.
Rebsamen is the sixth-largest insurance agency owned by a banking company, according to Marsh, Berry & Co., an Ohio consulting firm that specializes in such acquisitions.