Phoenix-based BNC Insurance Services Inc., a subsidiary of BNC National Bank and its parent company, BNCCORP Inc. has acquired the assets of T.M. Richards & Associates. The total consideration paid in the acquisition was valued at approximately $2 million, of which approximately $1.5 million was paid in cash and the remainder of which was paid in shares of BNCCORP Inc. common stock. The transaction was effective May 31, 2006.
Tom Richards and T.M. Richards & Associates are providers in the employee benefits field of insurance agencies. Richards has been a producer for more than 20 years. He will serve BNC Insurance Services Inc. as its executive vice president of employee benefits.
BNC Insurance Services Inc., a subsidiary of BNC National Bank and its parent company BNCCORP Inc., offers a range of insurance products and services, as well as risk management and employee benefit administration. Web site: http://www.milnebnc.com/ and http://www.bncbank.com/.
Source: BNC Insurance Services Inc.
Was this article valuable?
Here are more articles you may enjoy.
Nebraska Fires Burn Grazing Lands, Threaten Plans to Grow US Cattle Herd 
Florida Man Faked Brain Injury for Years in Attempt to Gain $6M in Insurance 
Married Massachusetts Insurance Brokers Plead Guilty to Defrauding Clients of $750K 
FCC Bans Wireless Router Imports, Citing Security Concerns 
