Texas Regional Bank in Harlingen, Texas, has entered into insurance brokerage after buying an agency.
The $2.5 billion-asset bank said in a press release that it bought Mission Duncan Insurance in Mission, Texas, on Dec. 2. The price wasn’t disclosed.
“We place a heavy emphasis on relationships,” Michael Scaif, Texas Regional’s chairman and CEO, said in the release. “Our goal is to guide our customers on their financial journeys, and now that includes insurance.”
Ryan Newman, who joined the bank in June to form an insurance division, will run the rebranded TRB Insurance.
“We couldn’t have asked for a better partner,” said Keith Padilla, CEO of Mission Duncan.