BB&T Insurance Services said it plans to expand its metro-Atlanta and North Georgia operations with the acquisition of Sidney O. Smith Inc. Terms of the deal were not released.
With offices in Gainesville and Alpharetta, Ga., Sidney O. Smith provides commercial and personal property and casualty coverage to 17,000 clients.
Sidney O. Smith, the first licensed insurance agent in Georgia, founded the agency in 1916. The current majority owners are George D. Jones, chief executive officer, and Jim Moore, president. Mr. Moore will serve as agency manager following the merger, BB&T said.
The transaction is expected to be completed in November. The agency's Alpharetta office will merge with BB&T's existing Alpharetta 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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