BancorpSouth Insurance Services, a subsidiary of BancorpSouth Bank, has signed a definitive agreement to acquire Joe Max Green/Insurance Agency. Financial terms of the acquisition were not disclosed.
Aubrey Patterson, chairman and CEO of BancorpSouth, said: This acquisition provides a strong addition to our growing Texas franchise. It provides us with the opportunity to continue expanding our successful insurance brokerage business with a highly regarded insurance agency; Joe Max Green/Insurance Agency (JMG/IC) joins our growing insurance network as a major foundation agency.
We will continue to look for opportunities to grow BancorpSouth Insurance Services’ business, providing expanded financial services to our clients while developing opportunities to generate additional non-interest income for our company.
Joe Max Green, Chairman of JMG/IC Insurance Agency, added: This new partnership will enable us to continue bringing new resources to our clients, while complementing our agency’s growth and development as we work and share all of the unique talents and skills within BancorpSouth’s agency network.