Univest Financial in Souderton, Pa., has acquired an insurance agency in Intercourse, Pa.
The $7 billion-asset Univest said in a press release Wednesday that it bought Paul I. Sheaffer Insurance Agency. Univest did not disclose the price it paid.
Paul Sheaffer II will join Univest as central Pennsylvania regional manager, and all of the agency’s employees will be retained.
The deal is Univest’s ninth insurance acquisition since 1999.