BB&T Expands Title Insurance Program
NU Online News Service, Aug. 19, 12:30 p.m. EDT?BB&T Insurance Services said it expects to continue expanding its title insurance business with the acquisition of Surety Land Title.
The two-year-old Raleigh, N.C.-based title insurance agency has offices in Greensboro and Winston-Salem, N.C.
BB&T said after the transaction the agency would continue to operate under its current name and maintain all 20 of its employees. Tom Harris, Surety Land president, is to be named manager of BB&T's North Carolina title insurance operations. Larry Johnson, Surety Land vice president, will continue to manage client business development.
The deal, BB&T noted, would be completed sometime early next month. Terms of the transaction were not disclosed.
BB&T Insurance, a subsidiary of Raleigh, N.C.-based Branch Banking and Trust Co., said it expects to expand it's growing title insurance business.
"The title insurance business is naturally booming right along with the surge in home buying we've seen over the past few years," said Wade Reece, president at BB&T Insurance. "That's one reason why we'll continue to look to expand our title business by partnering with high-quality agencies with outstanding leadership and expertise like Surety Land Title."
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