Texas Regional Bank (TRB) announced the addition of insurance to its suite of financial services. TRB Insurance will offer a wide range of products and services, including home, auto, and life insurance, as well as commercial insurance.
“At TRB, we place a heavy emphasis on relationships; our goal is to guide our customers on their financial journeys, and now that includes insurance,” said TRB Chairman and CEO Michael Scaief. The new TRB Insurance Division comes by way of acquisition. The bank acquired Mission Duncan Insurance of Mission, Texas, and plans to build on its more than 100-year history in the insurance business.
“We couldn’t have asked for a better partner,” said Keith Padilla, CEO of Mission Duncan Insurance. “TRB will leverage our agency’s expertise to build a statewide insurance division. For our existing customers, the transition is seamless – a new name, but the same values focused on our customers and community.” TRB Insurance will operate as an independent insurance agency, allowing it to shop for the best coverage and rates for its customers.
The Mission Duncan acquisition closed on Dec. 2, 2022.
Topics Mergers & Acquisitions Texas
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