York Financial Corp., the parent company of York Federal Savings and Loan Association, has signed a definitive agreement to purchase the Owen Insurance Agency, one of York’s largest independent insurance agencies.
Offering auto, homeowners and business insurance and employee benefits, the agency generates about $20 million in annual premiums from its offices in York and Camp Hill, Pennsylvania. The agency will keep its current offices, under the name of Owen Incorporated and the same staff will serve its customers.
The bank employed consultant Gerald C. Vigneron, of North Bridge AdvisorsInc., to help guide it throughout the acquisition process, which took two years to complete. York Financial Corp. and Harris Financial Corp. previously announced their merger to form Waypoint Financial Corp., which will serve approximately 150,000 households and several thousand businesses in south central Pennsylvania and northern Maryland from 58 branch locations.
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