Ohio-based Huntington Bancshares Incorporated announced the sale of the J. Rolfe Davis Insurance Agency Inc. to members of its management team. This transaction, and the absence of any related net earnings contribution going forward, will not materially impact Huntington’s financial results.
Huntington acquired Orlando Florida-based J. Rolfe Davis in August of 2000 and operated it as a stand-alone property and casualty insurance agency within Huntington’s insurance operations. Huntington’s decision to sell J. Rolfe Davis at this time is consistent with its strategic refocusing plan, including the sale of its Florida banking operations in February. Huntington remains committed to growing its insurance business in markets served by its retail and commercial banking operations.
Topics Mergers & Acquisitions
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