Rainier Pacific Financial Group Inc. reported that its wholly-owned subsidiary, Rainier Pacific Bank, has completed its acquisition of the property and casualty insurance businesses of Christopherson-Boze Insurance Services Inc. and Holman Insurance Agency Inc.
Wallace Christopherson, the former owner and president of the two agencies, was appointed as a vice president of the Bank and will assume leadership responsibilities of the Bank’s insurance services unit. The Bank had previously announced the signing of a purchase and sale agreement on Dec. 21, 2005.
The Bank purchased the insurance businesses for $3.5 million and anticipates these acquisitions will be modestly accretive, adding approximately $0.02 per share to 2006 earnings.
Rainier Pacific Financial Group Inc. is the bank holding company for Rainier Pacific Bank, a Tacoma, Washington based state-chartered savings bank, operating 13 branch offices in the Tacoma-Pierce County and City of Federal Way areas.
Topics Agencies Washington
Was this article valuable?
Here are more articles you may enjoy.
70% of Drivers Say They’ve Felt Unfairly Judged by Auto Insurers: Arity Report 
FEMA Chief Resigns After Six Months, Criticism Over Floods 
Parkland Shooting Wasn’t Multiple Incidents With Multiple Deductibles, Court Says 
Marsh Sues More Former Employees Over ‘Scheme’ to Open Howden US 
