BB&T Insurance Services said it plans to acquire Reese Insurance Associates Inc. of Riverdale, Ga. Terms of the deal were not released.
The move would expand BB&T's metro-Atlanta insurance operations, the Raleigh, N.C.-based broker and subsidiary of the Winston-Salem, N.C., bank said. The acquisition is expected to be completed in June.
Reese Insurance was founded in 1974 by Thomas Reese. The agency provides both commercial and personal property-casualty coverage as well as group benefits insurance.
Gary Laggis, president of Reese, will be named agency manager, while agency principals Roy Vreeland, Mark Martin, Marilyn Plunkett, Rhonda Crumbley and Michael Parker will continue in their roles as senior leaders and client relationship managers.
BB&T said Reese's 25 employees will remain with BB&T Insurance and relocate to nearby Fayetteville, Ga., in August.
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