Ameriana Bancorp announced it has agreed to sell Ameriana Insurance Agency (AIA) to Pfenninger, Claxton and Estelle Insurance Group of New Castle, Ind.
The transaction value is $1,950,000 and is expected to close in the fourth quarter of 2015, subject to the satisfaction of various closing conditions.
Ameriana Bancorp is a bank holding company. In addition to Ameriana Insurance Agency, subsidiaries include Ameriana Bank and Ameriana Financial Services, which offers securities and insurance products through LPL Financial.
Source: Ameriana Bancorp
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