BB&T Insurance Services said it plans to expand itsmetro-Atlanta and North Georgia operations with the acquisition ofSidney O. Smith Inc. Terms of the deal were not released.
|With offices in Gainesville and Alpharetta, Ga., Sidney O. Smithprovides commercial and personal property and casualty coverage to17,000 clients.
|Sidney O. Smith, the first licensed insurance agent in Georgia,founded the agency in 1916. The current majority owners are GeorgeD. Jones, chief executive officer, and Jim Moore, president. Mr.Moore will serve as agency manager following the merger, BB&Tsaid.
|The transaction is expected to be completed in November. Theagency's Alpharetta office will merge with BB&T's existingAlpharetta agency, BB&T-Huffines Russell.
|BB&T Insurance Services is a subsidiary of Winston-Salem,N.C.-based financial services company BB&T Corporation.
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