Bankers Insurance Center Acquires Troy & Montgomery

Louisiana’s Bankers Insurance Center LLC, announced it has acquired Troy & Montgomery Insurance, one of the largest independent insurance agencies in north Louisiana. The acquisition is effective Jan. 1, 2005.

Formed in 2004, Bankers Insurance Center is a Louisiana-based insurance agency owned by 48 community banks located throughout the state. Troy & Montgomery Insurance agency, having a 100-year-old history in north Louisiana, will serve as the primary basis of operation for the newly formed LLC.

Albert C. Christman, chairman of Bankers Insurance Center and president/CEO of Guaranty Bank & Trust of Delhi, La., said Eugene Montgomery would be named president/CEO of Bankers Insurance.

Commenting on Montgomery’s appointment, Christman stated, “We are very pleased to have someone of Mr. Montgomery’s experience involved in the leadership of the Bankers Insurance Center. We are confident that he and the other managers of Troy & Montgomery Insurance will be able to implement the marketing and product distribution strategies that we envisioned when we formed the Bankers Insurance Center.

Christman said he expects Jeffrey Mouk, Bruce Bullock and Kathy Smith, all currently involved in the management of Troy & Montgomery Insurance, to play prominent roles in the management of the Bankers Insurance Center.

Eugene Montgomery, currently president of Troy & Montgomery, added, “I have always believed that success is certain when capable people share a common vision. This transaction will enable us to combine our resources to benefit our customers, employees, insurance companies, member banks and agency. Having the Bankers Insurance Center headquarters based in Monroe is a definite advantage. We shall continue to embrace technology allowing us to expand our operations statewide without interruption.”

The Bankers Insurance Center plans to acquire additional insurance agency operations in other areas of Louisiana.

Topics Mergers & Acquisitions Louisiana