The insurance subsidiary of Evans Bancorp Inc. is moving south with the acquisition of an insurance agency in Allegany County.
The Evans Agency LLC plans to purchase the business of Wellsville-based Richardson & Stout Insurance, whose 2017 premiums totaled $14.3 million. Once finalized, annualized premiums at The Evans Agency are expected to top $100 million.
Terms of the deal, which is set to close July 1, were not disclosed.
The agency will be known as Richardson & Stout Insurance, a division…
