FIRST CHARTER ACQUIRES SMITH & ASSOCIATES:

Charlotte, N.C.-based Smith and Associates Insurance Services Inc., an independent property casualty agency specializing in middle market commercial accounts has been acquired by First Charter Corp., a large southeast insurance agency. Financial terms of the acquisition were not disclosed. Smith & Associates will become part of First Charter Insurance Services, a division of First Charter Bank. Smith &Associates has 12 employees, including principals John Smith and John Land. The agency will become part of First Charter Insurance Services (FCIS), a wholly owned subsidiary of First Charter Bank. First Charter Insurance Services is a large insurance agency with 115 employees in seven locations generating more than $100 million in annual premium volume. It has grown through 10 acquisitions since 1998 and operates as a full-service insurance agency in commercial and personal property and casualty, bonds and group life and health insurance.