Northeast Bank Acquires Another Maine Insurance Agency

December 7, 2006

On the heels of the recently announced Palmer Insurance Agency acquisition, Northeast Bank Insurance Group, Inc., a wholly-owned subsidiary of Maine-based Northeast Bank, has acquired a second insurance agency in less than a week.

Closing the deal on December 1, Sturtevant and Ham Insurance located in Livermore Falls will now operate under the Northeast Bank Insurance Group, Inc. umbrella.

Sturtevant and Ham has three employees and generated close to $2 million in gross property casualty premiums over the past year.

Northeast Bank Insurance Group, Inc. now operates 10 insurance offices throughout western and central Maine including Anson, Auburn, Augusta, Bethel, Jackman, Mexico, Rangeley, South Paris, Turner and now Livermore Falls.

Source: Northeast Bank Insurance Group, Inc.

Topics Mergers Maine

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