Fort Worth Bank Forms Agencies

January 24, 2003

Fort Worth, Texas-based Summit Bank formed two insurance agencies to provide property, casualty, life and employee benefits insurance services. According to the company, Summit Property & Casualty will operate in association with The Wm. Rigg Co. and Summit Life & Benefits will operate in association with The CSG Companies. The agencies will begin operation in February 2003.

“The agencies were formed in association with two of Ft. Worth’s premier insurance agencies, The Wm. Rigg Co. and The CSG Companies,” said Philip E. Norwood, Summit Bank’s president and CEO. “Both Wm. Rigg and CSG are independent companies. This means that they shop the marketplace for the best policies and offer each client a choice of the best names in the business. This gives our clients options.” Norwood added, “The Wm. Rigg Co. has been in business since 1895, proving its longevity as a property and casualty company. Given the tumultuous state of property insurance in Texas right now, this is important. Just as importantly, Summit is associated with The CSG Companies- among the most respected commercial life and employee benefits companies in the business.”

“In today’s environment, property and casualty insurance is an indispensable part of everyone’s personal and business planning needs,” said Cecil Ray, chairman of the Wm. Rigg Co. “This is why we are delighted to work with Summit Bank which, like Wm. Rigg Co., is Ft. Worth-based and dedicated to serving our community. We believe the breadth of expertise we offer—from coverage of specialized fields such as architecture and engineering, to customized packages for specific industries—will provide Summit customers unparalleled access to the business risk coverage they need.”

Logan Dickinson, president of The CSG Companies, echoed Ray’s comments. “We consider Summit to be the most respected Ft. Worth-based bank,” said Dickinson. “CSG can certainly help Summit clients with sound planning and effective solutions to their employee benefits and life insurance needs. Using our advanced systems we can deliver a full array of insurance and benefit services, from group insurance plans, strategies for self-funding health plans, and cafeteria flex plans, to helping business owners with insurance strategies for buy-sell agreements, executive benefits and deferred compensation and estate planning for individuals.”

“These two companies expand Summit’s financial network of services,” said Norwood. “Because our banking and insurance clients represent some of the finest families and companies in Tarrant County, we will be working together to deliver a premier service experience.”

Summit Bank has six locations in Tarrant County.

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