Tompkins Financial has announced the acquisition of Shepard, Maxwell & Hale Insurance by Tompkins Insurance Agencies, an affiliate of the financial corporation. The acquisition was effective January 1, 2016.
"We are happy to continue to grow our business in Batavia and serve our neighbors through this expansion," said David S. Boyce, President and CEO of Tompkins Insurance.
The change is a win-win for customers, said Boyce. "In addition to continuing to receive personal attention from local insurance professionals who place a high value on customer service, customers will have "one stop shopping" access to the comprehensive array of financial solutions offered by our affiliation with Tompkins Bank of Castile and Tompkins Financial Advisors."
According to Boyce, Daniel G. Hale and Stephen S. Maxwell, will remain with the agency. Most current employees will be retained in the merger and will continue to service accounts. The Batavia location of Shepard, Maxell & Hale will close and move operations to the Tompkins Financial Center at 90 Main Street on or about February 1, 2016.
The Hamlin office will continue to operate at its current location for the time being. Effective February 1, clients of Shepard, Maxell & Hale may receive service at any of the 28 locations throughout New York and Pennsylvania, including the 16 locations in western New York.
"This acquisition is consistent with the growth strategy we have for our company," said Steve Romaine, Tompkins Financial Corporation president and CEO. "It is a positive move that enhances our ability to further grow our business in Batavia and western New York and offer the value-added products and services of the Tompkins Financial family," he said.
Tompkins Insurance serves 30,000 personal insurance customers and 7,600 commercial insurance customers, making it the 3rd largest commercial insurance firm in the Rochester area and the 82nd largest agency in the country. The acquisition will add the approximately 4,000 Shepard, Maxwell and Hale accounts to its customer base.
Established in 1957, Shepard, Maxell & Hale has a long history of serving western New York through its two offices in Batavia and Hamlin. The merger with Tompkins Insurance makes sense for customers, according to Hale.