Ascension Insurance has agreed to buy First Community Bancshares’ subsidiary Greenpoint Insurance Group's operations in High Point and Lexington, North Carolina, as well as Greenpoint's operations in Warrenton and Marshall, Virginia, where it operates as Carr & Hyde.
Greenpoint and Carr & Hyde agents and other employees from the four locations are now part of the Ascension team. Going forward, First Community Bancshares, through its insurance subsidiary which operates under the First Community Insurance Services name, will retain and continue to develop its operations within First Community Bank branches located in North Carolina, Virginia, and throughout its footprint.
This transaction strategically expands Ascension's existing North Carolina operations and will be the company's first acquisition in the state of Virginia.
The acquired Greenpoint offices in North Carolina and Carr & Hyde offices in Virginia are part of Ascension, effective immediately.
Greenpoint Insurance Group president Wayne Eastham said: "Ascension is a great fit for us.
"We're united by our passion for putting the customer first. Joining Ascension allows Greenpoint and Carr & Hyde to further develop the superb service our clients have come to expect."
Ascension Insurance eastern region managing director Jon Cooper said: "What I've learned about the Greenpoint and Carr & Hyde teams is how closely our company cultures align.
"Like Ascension, they are thriving, dynamic organizations filled with folks who really care. I'm very excited to team with the best and see what we create together."
Ascension Insurance CEO Joe Tatum remarked: "We're delighted to have the Greenpoint and Carr & Hyde teams on board. They have both been delivering outstanding consulting, brokerage, and client-management services in their respective communities for many years.
“At Ascension, our ongoing goal is to develop innovative, creative, and responsive solutions for our clients in a dynamic marketplace. This deal will enable us to continue to deliver on this commitment as we grow our operations in North Carolina and make our inaugural move into Virginia. I couldn't be more pleased to welcome both teams to the Ascension family."