Maine’s Northeast Bank Finalizes Deal for Spence & Mathews

December 3, 2007

Spence & Mathews Insurance is the latest insurance agency to join Northeast Bank Insurance Group, Inc. a wholly-owned subsidiary of Maine-based Northeast Bank.

Founded in 1935, Spence & Mathews has 16 employees located in two offices, in Berwick, Maine and Rochester, N.H. The company represents 14 state and national carriers, has $10 million in property / casualty premiums and serves over 6,000 clients, according to the firm. Under the new arrangement, the previous owner, Craig Linscott, will continue to oversee the two offices with all employees remaining.

Northeast Bank Insurance Group, Inc. has completed six agency acquisitions in the past year increasing the number of insurance offices to 13.

Source:Northeast Bank Insurance Group, Inc.

Was this article valuable?

Here are more articles you may enjoy.