Texas Regional Bank (TRB) has established insurance division by acquiring Mission, Texas-based insurance agency Mission Duncan Insurance.
Mission Duncan has been serving customers in South Texas and the Rio Grande Valley since more than 100 years.
The agency provides insurance products from a variety of nationally known companies.
The TRB’s new division, named TRB Insurance, will offer customers with a wide range of products and services, including home, auto and life insurance, as well as commercial insurance.
TRB chairman and CEO Michael Scaief said: “At TRB, we place a heavy emphasis on relationships; our goal is to guide our customers on their financial journeys, and now that includes insurance.”
Texas Regional Bank said the new insurance division will be operated as an independent insurance agency to allow customers to shop for the best coverage and rates.
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Mission Duncan Insurance CEO Keith Padilla said: “TRB will leverage our agency’s expertise to build a statewide insurance division. For our existing customers, the transition is seamless – a new name, but the same values focused on our customers and community.”
TRB’s acquisition of Mission Duncan was closed on 02 December 2022. Financial terms of the deal were not disclosed.
TRB Insurance president Ryan Newman said: “Our consumer and business customers are busy people. They don’t have time to call around and shop for the best coverage and rates.
“We make life easy by doing that for them; we do the legwork and present the best options to the customer.”