Northeast Bank Acquires Maine’s Palmer Agency

December 4, 2006

The insurance subsidiary of Northeast Bank, Northeast Bank Insurance Group, Inc. has acquired the Palmer Insurance Agency of Turner, Maine.

Palmer has six employees and generated $4 million in gross premiums over the past year.

The current leadership, including owner Chip Palmer will stay onboard, along with his seasoned team of insurance professionals.

Northeast Bank Insurance Group, Inc. will now operate nine insurance offices throughout western and central Maine including Anson, Auburn, Augusta, Bethel, Jackman, Mexico, South Paris, Rangeley and now Turner. With this acquisition Northeast Bank Insurance Group said it will embark upon a new marketing strategy that includes delivering one-stop shopping for banking, insurance and investment needs to its client base.

Source: Northeast Bank Insurance Group, Inc.
www.northeastbank.com.

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