Northeast Bank Insurance Group, Inc., a wholly-owned subsidiary of Maine-based Northeast Bank, continues acquiring insurance agencies in Maine. The latest acquisition is Southern Maine Insurance Agency, located in Scarborough.
The 18 year old, Southern Maine Insurance Agency, is Northeast’s third insurance agency acquisition in less than six months and gives Northeast entrance to the Scarborough market. Located at 432 U.S. Route 1, the agency writes approximately $3.6 million in insurance premiums.
George Gould of Windham, a recent hire for Northeast, has been appointed to manage the office. In addition, the agency’s three employees will remain on staff along with former owner Thomas Brown who will be working in a consulting and production capacity.
With the purchase of Southern Maine Insurance Agency, Northeast Bank Insurance Group, Inc., based in Lewiston, now operates 11 insurance offices throughout western, central and southern Maine including Anson, Auburn, Augusta, Bethel, Jackman, Livermore Falls, Mexico, Rangeley, South Paris, Turner and now Scarborough.
Source: Northeast Bank
www.northeastbank.com
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
Munich Re Unit to Cut 1,000 Positions as AI Takes Over Jobs 
Experian Launches Insurance Marketplace App on ChatGPT 
Fla. Commissioner Offers Major Changes to Citizens’ Commercial Clearinghouse Plan 
Viewpoint: Runoff Specialists Have Evolved Into Key Strategic Partners for Insurers 
