Mr. Batt said that IBS, with about $2 million in revenue, also sells personal and commercial insurance. Under terms of the agreement, the $12.5 billion Bowling Green, Ohio-based diversified financial holding company agreed to a 100 percent common stock trade in IBS. Sky Financial said it anticipates the agency would remain in Boardman and all employees would be retained.

Mr. Batt said that the group's strategy is to regionally develop banking and insurance services alongside one another. He said the group's geographic concentration is Ohio and Western Pennsylvania.

In the five years since Sky Financial stepped into the insurance business, it has grown to $500 million in premium volume, selling a broad range of services from employee benefits, property-casualty, professional liability, life insurance and financial services to both commercial and personal lines customers.

He said there is a "tremendous relationship" between the banking and insurance services, with programs in place that have allowed for significant referral growth between both the bank and insurance. He added that Sky Insurance has doubled in growth every year since its inception.

When it comes to acquisitions, Mr. Batt said that Sky Financial looks for well-managed, profitable agencies. The geographic location and vendor mix are also important factors in its decision making. He said some of the geographic target areas are metropolitan Columbus and Cleveland, Ohio.

Mr. Batt also credited the group's success to good judgment by its Chairman, President, and Chief Executive Officer Marty Adams, saying, "He let's the insurance run itself and does not meddle in it."