Northwest Bancshares in Warren, Pa., has bought B.J. Petruso Agency in Meadville, Pa.
The $7.8 billion-asset Northwest said in a press release Monday that the deal will expand its insurance franchise within its home state. Financial terms of the deal were not announced.
"This new addition will expand our coverage in northwestern Pennsylvania and give our customers another point of contact," Douglas Bert, president of Northwest Insurance Services, said in the release.
Northwest has recently grown its insurance division through acquisitions. It bought Evans Capital Management, an insurance consulting and financial advisory firm in Erie, Pa., last year. It recently bought The Bert Company, an employee benefits and casualty insurance company that is also based in Erie.
Additionally, Northwest agreed in December to buy LNB Bancorp in Lorrain, Ohio, in a $183 million deal that would add 20 branches around Cleveland. That deal is expected to close in the second quarter.
Northwest has 166 branches in Pennsylvania, New York, Maryland and Ohio, according to the Federal Deposit Insurance Corp.