Farmers Closes on Purchase of Bowers Agency
CANFIELD, Ohio – It’s official. Bowers Insurance Agency Inc., Cortland, is now part of Farmers National Banc Corp.
Farmers’ purchase of the agency for stock and cash closed Wednesday, Kevin Helmick, president and CEO of Farmers National Banc Corp. and Farmers National Bank, announced yesterday.
The insurance agency, to be known as The Bowers Group, will retain its name but eventually merge with Farmers National Insurance LLC, Farmers’ wholly owned insurance subsidiary, and be an extension of the bank’s wealth management division, Helmick said.
“This partnership enables Farmers to solidify our comprehensive wealth management division,” Helmick said in a prepared statement. “With a strong trust company, retirement company and investment division, the Bowers Insurance Co. will broaden our offerings with their robust and well-established agency.”
With Bowers becoming a part of Farmers, the agency allows its new parent to “offer broader options of commercial, farm, home and auto property/casualty insurance carriers to meet all the needs of Farmers customers,” Helmick said.
Pictured: Kevin Helmick and Ben Bowers announced the acquisition May 9.
Copyright 2022 The Business Journal, Youngstown, Ohio.