Marty E. Adams, chief executive officer of Sky Financial Group Inc., told a group of investors last week that the Bowling Green, Ohio-based company is seeking additional acquisitions of small insurance agencies.
The $7.8 billion-asset Sky, which in May acquired Picton Cavanaugh Inc., a Toledo-based insurance agency, said it would prefer to buy companies whose management aims to grow through stronger capital backing.
It is also looking into acquiring family-held insurance agencies seeking to leave the business, Mr. Adams said.
The strategy is part of Sky's overall goal to boost its nonbank subsidiaries' earnings next year. It also sells trust, asset management, and investment products.
-- Matt Andrejczak