M&T Buys Maryland’s Hess Egan

M&T Insurance Agency, Inc. has acquired Hess Egan Hagerty & L’Hommedieu, Inc., a commercial insurance and surety brokerage agency based in Chevy Chase, Maryland, with additional offices in Pennsylvania and New Jersey.

Hess Egan will operate as a division of MTIA, a subsidiary of M&T Bank, MTIA is a full-service commercial property and casualty insurance agency.

Hess Egan was established in 1967 and has 38 employees. The current principals, Robert E. Walsh, Eugene P. Dessureau, John J. Younger, Donald W. Armbrecht, and Stephen W. Freeman will remain with the newly created division of MTIA.

“This acquisition will add significantly to our company’s strong market position in the Mid-Atlantic region,” said Atwood “Woody” Collins III, president of M&T Bank’s Mid-Atlantic Division.

Robert E. Walsh, president of Hess Egan, will become vice president and regional manager of the division.

M&T Bank is the principal banking subsidiary of Buffalo, N.Y.-based M&T Bank Corporation. M&T has $55 billion in assets and 650 branches located in New York, Pennsylvania, Maryland, Virginia, West Virginia, Delaware and the District of Columbia.

Topics Mergers & Acquisitions