PayneWest Insurance, Inc., the largest independent, employee-owned, insurance agency in the Northwest, announced today they have entered into a definitive agreement with First Security Insurance to purchase their Fort Benton and Three Forks, Montana insurance operations. Terms of the transaction, which closed on March 1, 2016, were not disclosed.
PayneWest has been serving the community of Fort Benton since opening an office in 2008. PayneWest will assume and relocate to First Security Insurance’s offices at 1502 Main Street in Fort Benton and can be reached by calling (406) 622-3410. Three Forks clients will be serviced from PayneWest’s Bozeman office which can be reached by calling (406) 586-3351. PayneWest has offices in 13 other Montana communities. Clients’ existing insurance coverage will remain in place under the terms presently outlined in their individual policies. First Security Bank’s operations and locations are not impacted by the transaction.
“Our intrinsic focus on our clients is perfectly aligned with the high-caliber service First Security Insurance has provided in these markets for years” said Kyle Lingscheit, PayneWest’s President and CEO. “We’re excited and honored to continue to do so.”
“Over the years, our company has seen many changes and growth,” said Ron Young, Branch President for First Security Bank in Fort Benton and President of First Security Insurance Agency. “Our customers are everything and we appreciate our long term relationships with our customers. When we determined to focus on our banking products and services, we approached PayneWest. We’re confident our customers will be well supported and continue to receive excellent service with PayneWest. We loo forward to continuing to be a hometown supporter of the Fort Benton and Three Forks communities with First Security Bank.”
About PayneWest Insurance
Operating independently since 1921, PayneWest Insurance provides business and personal insurance, employee benefits and surety. Today, PayneWest is the largest independent, employee-owned, agency in the Northwest and was ranked 38th in the top 100 U.S. Brokers by Business Insurance in 2015. Driven by their commitment to serve their Clients, Colleagues and Communities, they have 30 offices throughout Washington, Idaho, Montana and Oregon and employ more than 640 insurance professionals, including advisor teams that specialize in highly complex market niches such as agriculture, construction, hospitality, banking, medical malpractice, and resource development. They recently were named a Best Places to Work in the Insurance Industry in 2015 by Business Insurance.