Banknorth Buys Maine's Field & Quimby Agency
NU Online News Service, Aug. 5, 2:03 p.m. EDT?Portland, Maine-based Banknorth Group Inc. said its subsidiary, Banknorth Insurance Group, has acquired Field and Quimby Inc., an insurance agency located in Belfast, Maine.
Field and Quimby, which began business in 1838, primarily provides personal lines home and automobile insurance. The office will be merged with Banknorth's W.C. Ladd office in Belfast.
Terms of the deal were not released.
The deal, said Peter Sparta, president and chief executive officer of Banknorth Insurance, in a statement, would strengthen the firm's presence in Maine's mid-coast region.
Banknorth Insurance Group has agencies throughout Maine, New Hampshire, Connecticut, New York and Vermont. It offers a full range of personal and commercial insurance services, including employee benefits and group-sponsored plans. Banknorth Group is a $26 billion banking and financial services company.
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