TUPELO, Miss. - Peoples Holding Co. announced that it has agreed to buy the Dominion Insurance Agency and make it part of a subsidiary of Peoples Bank and Trust Co., the parent company's flagship unit.
The price was not disclosed in Monday's announcement.
Dominion Insurance, which specializes in property-casualty products, is to be merged into Peoples Insurance Agency Inc., an existing subsidiary of Peoples Bank, during the first quarter when the transaction is expected to close.
Dominion Insurance is to continue operating in Louisville, Miss., with its current staff of six. Together, Dominion Insurance and Peoples Insurance Agency represent more than 50 insurance companies, including St. Paul/USF&G, Kemper, MetLife, Farmers, State Auto, and Travelers.
Peoples Bank and Trust is a $1.2 billion-asset bank with 41 branches in 27 northern and north-central Mississippi cities.