Bank will continue close relationship with Connelly, Carlisle, Fields & Nichols
CLEARWATER, Fla. (October 1, 2013) – USAmeriBank has sold its insurance division, Connelly, Carlisle, Fields & Nichols, to global insurance brokerage Hub International Limited, the bank announced today.
Terms of the acquisition, which was completed Sept. 30, were not disclosed. As a division of Hub, CCF&N will continue to offer the same quality service and coverage to its customers, specializing in commercial risk management, employee benefits, and personal risk management. The CCF&N operations will become a new regional platform for Hub’s expansion in Florida.
By becoming part of Hub, one of the world’s 10 largest insurance brokerages, CCF&N will have the ability to leverage the knowledge and skills of one of the insurance industry’s most well regarded companies.
At the same time, the USAmeriBank-CCF&N relationship will continue to be strong, with the bank continuing to refer customers with insurance needs to CCF&N, just as it has done in the past. USAmeriBank has worked closely with CCF&N for a number of years, and last year became a 100 percent owner of the company.
“This transaction is a positive for everyone involved,” said USAmeriBank CEO Joseph V. Chillura. “For the bank, we will continue to have a close relationship with CCF&N, which is a value-add for our customers. And for CCF&N, being part of one of the nation’s most well-regarded insurance brokerages offers a number of advantages for its customers.”
John Connelly, former managing partner of CCF&N, will now serve as Chief Executive Officer for Hub’s Florida operations. Over the coming year, the name of the local operation will transition from CCF&N to Hub International Florida.
“It’s a great credit to our company and employees that the world’s 10th-largest insurance brokerage firm sought us out to become their Florida office,” Connelly said. “We are excited to be a part of Hub while also continuing a close relationship with USAmeriBank.”
USAmeriBank is an independent, non-public bank based in Clearwater, Fla. that has established itself as an outstanding middle-market financial institution. The bank serves the needs of individuals and businesses in the Tampa Bay area by providing a high-level of personalized service and attention to a targeted customer base. USAmeriBank’s parent company is USAmeriBancorp, Inc. More information is available at www.USAmeriBank.com.