Fisher-Brown Bought By Trustmark
NU Online News Service, Nov. 3, 11:11 a.m. EST?Jackson, Miss.-based Trustmark Corp. said it has signed an agreement to purchase Pensacola, Fla.-based insurance agency Fisher-Brown.[@@]
The agency would become a wholly owned subsidiary of Trustmark National Bank.
The transaction, which is subject to due diligence, is expected to close in the fourth quarter of 2004. Terms were not released.
Founded in 1911, Fisher-Brown is a major general lines insurance agency in Northwest Florida, Trustmark said. The agency provides a broad spectrum of risk management products to businesses and individuals.
In addition to its Pensacola headquarters, Fisher-Brown, with a staff of 125 associates, has Florida offices in Milton, Mary Esther, Destin and Panama City. The agency reported annual revenues of approximately $16 million.
Trustmark's Chairman and Chief Executive Officer Richard G. Hickson said the agency would operate as a separate subsidiary of the bank and would complement the bank's existing insurance services by The Bottrell Insurance Agency Inc., also based in Jackson.
Trustmark National Bank is a subsidiary of Trustmark Corporation, a financial services company providing banking and financial solutions through over 145 offices and 2,450 associates in Mississippi, Florida, Tennessee and Texas.
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