Northeast Bank Insurance Group Inc., a Lewiston, Maine, unit of Northeast Bancorp, said it has bought Goodrich Insurance Associates.
The deal, announced last week, is the company's eighth insurance agency purchase in two years. As a result of the Goodrich purchase, the Berwick, Maine, agency was merged with Spence & Mathews in Berwick, which Northeast bought last year.
Goodrich, with about $1.7 million of premium volume, has three employees all of whom will work for Northeast, handling property and casualty insurance as well as commercial lines in the Berwick area. They are to relocate in September to new offices at Spence & Mathews.
Northeast Bancorp, which is based in Rangeley, Maine, had $607 million of assets at March 31.