Stephens Insurance Buys Key Assets Owned By Centennial Insurance Agency
by January 6, 2015 4:41 pm 758 views
Officials with Stephens Insurance, LLC said Tuesday (Jan. 6) that they have signed an agreement with Centennial Insurance Agency, Inc. to acquire certain assets owned by Centennial related to its Jonesboro insurance group.
Home BancShares, Inc., parent company of Centennial Bank, purchased the Town & Country Insurance Agency as part of its acquisition of Liberty Bancshares, Inc. in 2013, and later merged Town & Country into Centennial. The sale amount was undisclosed.
Stephens Insurance president Marty Rhodes said the purchase is another growth step for his firm.
“We are thrilled to have an insurance presence in Jonesboro and Northeast Arkansas,” Rhodes said.
Stephens Inc., the investment firm and affiliate of Stephens Insurance, opened a Jonesboro office in 2008.
In a statement, Rhodes also announced that most of the insurance personnel would make the move over to Stephens Insurance.
“We are particularly pleased that Dick Darouse, Bubba Barnett, Jim Agan, and Floyd Morgan will become part of the Stephens Insurance organization,” he said. “All four of these producers have tremendous insurance experience in the Northeast Arkansas marketplace. It’s a great way to begin the year.”
Darouse said the change will help customers and clients alike.
“Stephens Insurance offers us valuable resources and services, and contracts with carriers that will enable us to continue to serve all of our clients. Plus, they have their own in-house claims and operations center that will be a value to our clients,” Darouse said.
The Stephens Insurance office will be located at 447 Southwest Drive in Jonesboro. Stephens Insurance, LLC is an affiliate of Stephens Inc. and is a full service, independent insurance agency, and the largest insurance agency in Arkansas.