OSWEGO, N.Y. — Oswego Valley Insurance Agencies, LLC (OVIA) has announced the acquisition of Banach Insurance Agency of Pulaski, effective Jan. 1.
OVIA didn’t release any financial terms of the acquisition in its news release.
Cindy Banach, owner of the Banach Insurance Agency, is retiring, she said in an email response to a BJNN follow-up inquiry.
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Banach founded Banach Insurance Agency in 1999 in Pulaski, according to the OVIA release. She has worked in the insurance industry for more than 40 years.
“It has been a fulfilling career and I have enjoyed owning my agency, making friends and taking care of our customers,” Banach said in a letter to her clients. “Being blessed with a long and happy career, I have decided to trust my good friends at Oswego Valley Insurance Agencies, LLC, with taking care of our clients and providing their knowledge and products.”
The letter went on to say that OVIA is purchasing the Banach accounts and moving them to its office in the town of Mexico.
Kathie Hoffman, who has worked for the Banach agency for more than 10 years, is joining the staff in the OVIA Mexico office, the letter said.
Hoffman is Banach’s lone employee, Banach said in her email response to BJNN.
OVIA is no stranger to mergers and acquisitions. In December 2014, it announced the acquisition of the Bartlett Insurance Agency of Oswego.
OVIA also resulted from the 1997 merger of two “longstanding,” local insurance agencies that operated since the late 1800s. Dowd & Harrington, Inc. and Streeter & VanSanford, Inc. merged to form OVIA.
The firm currently operates six offices in Oswego, Onondaga, and Jefferson counties, with locations in Oswego, Fulton, Phoenix, Brewerton, Mexico, and Clayton. The offices serve more than 10,000 clients.
Contact Reinhardt at ereinhardt@cnybj.com
