Old National Bancorp announced the sale of one of its insurance subsidiaries, the J.W. Terrill Insurance Agency, back to the Terrill management team.
Financial terms of the deal were not disclosed.
St. Louis-based Terrill Insurance Agency, staffed by roughly 130 employees, handles insurance, benefits and risk management. The company has been an affiliate of Old National since its acquisition in 2002.
Old National said that Terrill Agency did not fit into the company's new strategy, which focuses on its communities and clients.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.