Fisher-Brown Bought By Trustmark

NU Online News Service, Nov. 3, 11:11 a.m.EST?Jackson, Miss.-based Trustmark Corp. said it hassigned an agreement to purchase Pensacola, Fla.-based insuranceagency Fisher-Brown.[@@]

The agency would become a wholly owned subsidiary of TrustmarkNational Bank.

The transaction, which is subject to due diligence, is expectedto close in the fourth quarter of 2004. Terms were notreleased.

Founded in 1911, Fisher-Brown is a major general lines insuranceagency in Northwest Florida, Trustmark said. The agency provides abroad spectrum of risk management products to businesses andindividuals.

In addition to its Pensacola headquarters, Fisher-Brown, with astaff of 125 associates, has Florida offices in Milton, MaryEsther, Destin and Panama City. The agency reported annual revenuesof approximately $16 million.

Trustmark's Chairman and Chief Executive Officer Richard G.Hickson said the agency would operate as a separate subsidiary ofthe bank and would complement the bank's existing insuranceservices by The Bottrell Insurance Agency Inc., also based inJackson.

Trustmark National Bank is a subsidiary of TrustmarkCorporation, a financial services company providing banking andfinancial solutions through over 145 offices and 2,450 associatesin Mississippi, Florida, Tennessee and Texas.