Frost Acquires Sammons Group

NU Online News Service, Aug. 6, 11:30 a.m.EDT?Frost Insurance Agency has acquired The Sammons GroupInc., an independent insurance agency, from the estate of thecompany's founder, Charles D. Sammons, following his death inFebruary.[@@]

Terms of the deal were not released.

The Sammons Group was founded in Dallas in 1981 by Mr. Sammons,who built it into a full-service agency with 32 employees. Theagency provides commercial property-casualty, personal lines, lifeinsurance and employee benefits.

In addition to the agency's Dallas headquarters, it has a secondoffice in Lancaster, Texas, operating under the name GlennMarcoInsurance Agency.

The Sammons Group Inc. is the seventh acquisition made by FrostInsurance Agency, a subsidiary of Frost Bank, the banking operationof Cullen/Frost Bankers Inc., a $9.6 billion financial holdingcompany headquartered in San Antonio, Texas.

Earlier acquisitions include Professional Insurance Agents Inc.,in Victoria, San Antonio, New Braunfels and Refugio, Texas, in1999; Wayland Hancock Insurance Agency Inc., in Houston, and NiemanHanks Puryear and Nieman Hanks Puryear Benefits, both of Austin,Texas, in 2000; AIS Insurance and Risk Management of Fort Worth,Texas, in 2001; Jentsch Financial Group of Victoria in 2002; andBrokers Insurance Designs of Fort Worth in 2003.

Additional information is available at www.frostbank.com.