Sonora, TEXAS (Feb. 8, 2019) – Sonora Bank announced today it has completed a partnership agreement with Sonora Insurance Group, a Boerne, Texas-based, full-service insurance agency.
“We are excited to welcome Sonora Insurance Group into the Sonora Bank family and look forward to leveraging our combined strengths,” said Bob Malone, Chairman, President and Chief Executive Officer of Sonora Bank. “Sonora Insurance Group has an established reputation as a leading independent insurance agency. This partnership supports our strategic growth plans by enhancing the solutions that we are able to offer our customers.”
Sonora Insurance Group was founded in 2008 in Boerne, Texas by a group of friends who believed they could make an impact in the equine insurance industry by delivering unmatched service. Throughout the years, Sonora Insurance Group has grown to become a multi-faceted agency providing coverage for home, auto, commercial, livestock, farm, ranch, equine and everything in between. Brad Akin, who has served as President of Sonora Insurance Group since 2016, will continue to lead the agency.
“Our core strength is our ability to provide customized, quality customer service and insurance solutions to meet our customers’ needs. We are thrilled about the opportunities the partnership with Sonora Bank creates for our customers and our agents,” said Brad Akin, President of Sonora Insurance Group. “Not only does partnering with Sonora Bank allow us to deepen our presence in the Hill Country and West Texas markets, we are able to expose our customers to a new breadth of financial services and lending solutions with a bank that shares a similar history and values.”
Sonora Insurance Group will operate from Sonora Bank’s Boerne East branch (1570 River Road). Financial terms of the private transaction were not disclosed.
About Sonora Bank
The First National Bank of Sonora opened in 1900, only 10 years after Sonora, Texas became a town. By 1995, Sonora Bank expanded to San Angelo as a $50 million bank. Today, the Bank has $415 million in assets and seven locations throughout West Texas and the Hill Country, including Sonora, San Angelo, Boerne, Bulverde and Wimberley. Sonora Bank is a Texas tradition in banking with many of the decedents of the original Board of Directors serving on the current Board. The Sonora Bank team is dedicated to providing sound financial services in a hometown atmosphere.
About Sonora Insurance Group
Sonora Insurance Group, LLC is an independent insurance agency located in Boerne, Texas. Founded in 2008 by a group of insurance industry veterans, Sonora Insurance Group has grown from its niche focus on equine and agriculture to become a large, full-service agency while staying true to its roots of providing personalized and customized insurance solutions. For more information, please visit www.sonora-insurance.com.