Vermont Business Magazine The Richards Group has reached an agreement to acquire Centurion Insurance Group in West Lebanon, NH, from Mascoma Bank. The transaction will be completed in April of 2018. The Centurion office will remain at its current location while The Richards Group’s Norwich branch office, which has served Upper Valley clients for the past 10 years, will consolidate operations into Centurion’s office space.
“We feel fortunate that the leadership of Mascoma Bank decided The Richards Group was the best fit to serve the needs of their insurance clients going forward,” said Drew Richards, Vice President of The Richards Group. “We’re thrilled to be part of the vibrant community in Hanover and to deepen the commitment we’ve made to the Upper Valley over the past decade.”
“We are very pleased to be partnering with The Richards Group on this transaction,” commented Clay Adams, President & CEO of Mascoma Bank. “Both our customers and the Centurion employees will be well served working with the breadth and depth of their product offerings and expertise. Like Mascoma Bank, The Richards Group has a deep commitment to their communities, which they have dependably served for three generations. This acquisition allows them to strengthen their connections and service to the Upper Valley.”
“Having spent the better part of my life in the Hanover community, this acquisition means a great deal to me and I’m excited with how The Richards Group is now positioned in the Upper Valley,” added Tom Scull, Vice President of The Richards Group. “With our expertise, technologies and service models, we bring outstanding capabilities to our local clients in the commercial and personal insurance, employee benefits consulting and retirement plan advisory areas. Our scale gives us access to the type of valuable resources and best practices you would typically find in a national firm, which we deliver through our local, high touch service model – it’s the best of both worlds. We’re excited to demonstrate this to our new clients.”
“We appreciate our collaboration with Mascoma,” continued Scull “and we look forward to working closely with them going forward. We welcome the talented Centurion team to The Richards Group and look forward to helping them continue the excellent work they have done for clients.”
Centurion will begin operating under The Richards Group name in the Spring of 2018.
The Richards Group, headquartered in Brattleboro, Vermont, has provided local Insurance, Employee Benefits and Retirement Plan solutions to clients throughout Vermont, New Hampshire and Massachusetts since 1867. The firm currently has over 115 employees and was named one of the “Best Places to Work in Vermont” in each of the past 3 years by Vermont Business Magazine and the Vermont Chamber of Commerce. For more information about the firm and its capabilities, please visit www.therichardsgrp.com.
Mascoma Bank, a mutually owned bank established in 1899, is headquartered in Lebanon, New Hampshire. The Bank has $1.7 billion in assets, 340 employees, and 26 locations throughout the Connecticut River Valley in New Hampshire and Vermont. Mutually owned and not for sale, the Bank has no stockholders to please. They are committed to remaining independent and to re-investing profits into the community. The bank has been serving the banking needs of the local community for generations by offering a full range of personal and business accounts and services.