Northeast Bank Acquires Maine’s Russell Agency

June 29, 2007

The insurance subsidiary of Northeast Bank, Northeast Bank Insurance Group, Inc., announced that Russell Insurance Agency, located in Madison, Maine, will join the group. Opened in the 1960s, Russell Insurance Agency is the fourth agency within the last six months to join Northeast Bank Insurance Group.

The agency is family-owned and has been operated for the past 15 years by Laura and R.J. Russell II. After the signing, Craig Sargent and Laura Russell will relocate the Russell Insurance Agency staff to Northeast’s location in Anson, since the offices were located within one-half mile of each other. Owners Laura and R.J. Russell II will continue to work in the market to develop both personal and commercial lines of business, and Linda Garceau will stay on as a customer service representative.

With the addition of Russell Insurance Agency, Northeast Bank Insurance Group will be operating 11 insurance offices throughout western, central and southern Maine: Anson, Auburn, Augusta, Bethel, Jackman, Livermore Falls, Mexico, Rangeley, Scarborough, South Paris and Turner.

Source: Northeast Bank Insurance Group, Inc. and Northeast Bank

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