HARLINGEN, Texas, Dec. 05 10, 2022 (GLOBE NEWSWIRE) — Texas Regional Bank (TRB) today announced the addition of insurance to its financial services lineup. TRB Insurance will offer a wide range of products and services, including home, auto and life insurance, as well as commercial insurance.
“At TRB, we value relationships; our goal is to guide our clients through their financial journey, and that now includes insurance,” said Michael Scaief, TRB Chairman and CEO. The new TRB Insurance division is the result of an acquisition. The bank acquired Mission Duncan Insurance of Mission, Texas, and plans to build on its more than 100 years of history in the insurance industry.
“We couldn’t have asked for a better partner,” said Keith Padilla, CEO of Mission Duncan Insurance. “TRB will leverage our agency’s expertise to create a statewide insurance division. For our existing clients, the transition is seamless – a new name, but the same client-focused values and our community.” TRB Insurance will operate as an independent insurance agency, enabling it to source the best coverage and rates for its customers.
“Our consumer and business customers are busy people. They don’t have time to call and shop around for the best coverage and the best rates,” said Ryan Newman, president of TRB Insurance. Newman, who started with the bank in June 2022 to launch an insurance division, added: “We make their life easier by doing this for them; we do the groundwork and present the best options to the client.”
The acquisition of Mission Duncan closed on December 2, 2022.
“TRB is a trusted financial leader in Texas communities,” Newman said. “It’s a trust that has allowed the bank to successfully launch divisions such as mortgages, wealth management, international business and now, insurance.”
About Texas Regional Bank
As of September 30, 2022, Texas Regional Bank had assets of $2.52 billion and 26 banking centers in the Rio Grande Valley, Texas Hill Country, Houston and DFW Metroplex. Texas Regional Bank is a wholly owned subsidiary of Texas State Bankshares, Inc., with over $151 million in equity and over 850 shareholders across Texas. TRB is a full-service financial institution offering basic banking services, trust services, wealth management services, mortgage services, international banking, insurance, foreign exchange and public finance.
For more information about Texas Regional Bank, visit www.texasregionalbank.com.
About Mission Duncan Insurance
Mission Duncan is an independent insurance agency based in Mission, Texas. It has served South Texas and the Rio Grande Valley for over 100 years. Mission Duncan provides high quality insurance products from a variety of well-established, nationally known companies.
Contact information:
Michael Scaif
Chairman of the Board / CEO
[email protected]
956-428-7474
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