Colony Bankcorp, Inc. Expands Insurance Division With Acquisition of the Ellerbee Agency
Colony Bankcorp (NYSE: CBAN) has acquired The Ellerbee Agency, an Allstate appointed consumer property and casualty insurance agency. The acquisition expands Colony Insurance's footprint with two new office locations in Monroe, Georgia and Greensboro, Georgia.
The Ellerbee Agency, led by Sean Ellerbee who brings over two decades of experience, will be integrated into Colony Insurance, the Company's wholly-owned insurance subsidiary. The acquisition includes eleven experienced agents, with Sean Ellerbee joining Colony Insurance's leadership team to focus on sales and coaching efforts.
Colony Bankcorp (NYSE: CBAN) ha acquisito The Ellerbee Agency, un'agenzia di assicurazioni per beni e responsabilità civile nominata da Allstate. Questa acquisizione amplia la presenza di Colony Insurance con due nuove sedi a Monroe, Georgia e Greensboro, Georgia.
L'Ellerbee Agency, guidata da Sean Ellerbee, che porta con sé oltre vent'anni di esperienza, sarà integrata in Colony Insurance, la sussidiaria assicurativa interamente controllata dalla società. L'acquisizione include undici agenti esperti, con Sean Ellerbee che entrerà a far parte del team di leadership di Colony Insurance per concentrarsi sulle vendite e sulla formazione.
Colony Bankcorp (NYSE: CBAN) ha adquirido The Ellerbee Agency, una agencia de seguros de propiedad y responsabilidad civil designada por Allstate. La adquisición amplía la presencia de Colony Insurance con dos nuevas oficinas en Monroe, Georgia y Greensboro, Georgia.
The Ellerbee Agency, liderada por Sean Ellerbee, quien cuenta con más de dos décadas de experiencia, se integrará en Colony Insurance, la subsidiaria de seguros de propiedad total de la compañía. La adquisición incluye a once agentes experimentados, con Sean Ellerbee uniéndose al equipo de liderazgo de Colony Insurance para enfocarse en las ventas y el coaching.
Colony Bankcorp (NYSE: CBAN)가 Allstate에 의해 지정된 소비자 재산 및 상해 보험 에이전시인 The Ellerbee Agency를 인수했습니다. 이 인수로 Colony Insurance는 Monroe, Georgia와 Greensboro, Georgia에 두 개의 새로운 사무소를 추가하게 됩니다.
Sean Ellerbee가 이끄는 Ellerbee Agency는 20년 이상의 경험을 보유하고 있으며 Colony Insurance에 통합될 예정입니다. 이 인수에는 11명의 경험 많은 에이전트가 포함되어 있으며, Sean Ellerbee는 Colony Insurance의 리더십 팀에 합류하여 판매 및 코칭 활동에 집중할 것입니다.
Colony Bankcorp (NYSE: CBAN) a acquis la Ellerbee Agency, une agence d'assurance de biens et de responsabilité civile désignée par Allstate. Cette acquisition élargit la présence de Colony Insurance avec deux nouveaux bureaux à Monroe, Georgia et Greensboro, Georgia.
L'Ellerbee Agency, dirigée par Sean Ellerbee, qui possède plus de vingt ans d'expérience, sera intégrée à Colony Insurance, la filiale d'assurance entièrement détenue par la société. L'acquisition comprend onze agents expérimentés, Sean Ellerbee rejoignant l'équipe de direction de Colony Insurance pour se concentrer sur les ventes et le coaching.
Colony Bankcorp (NYSE: CBAN) hat die Ellerbee Agency übernommen, eine von Allstate ernannte Verbraucher-Immobilien- und Haftpflichtversicherungsgesellschaft. Mit dieser Übernahme erweitert Colony Insurance seine Präsenz mit zwei neuen Büros in Monroe, Georgia und Greensboro, Georgia.
Die Ellerbee Agency, geleitet von Sean Ellerbee, der über zwei Jahrzehnte Erfahrung verfügt, wird in Colony Insurance integriert, die hundertprozentige Versicherungssparte des Unternehmens. Die Übernahme umfasst elf erfahrene Agenten, wobei Sean Ellerbee dem Führungsteam von Colony Insurance beitritt, um sich auf Verkaufs- und Coaching-Aktivitäten zu konzentrieren.
- Geographic expansion with two new office locations
- Addition of 12 experienced insurance professionals
- Enhanced insurance service capabilities
- Strategic growth in property and casualty insurance segment
- None.
Insights
Colony Bankcorp's acquisition of The Ellerbee Agency represents a strategic bolt-on transaction that strengthens the company's non-interest income diversification strategy. By expanding Colony Insurance into two additional Georgia markets (Monroe and Greensboro), the bank gains both geographic expansion and additional talent with the onboarding of eleven experienced agents.
This type of acquisition offers three key advantages for regional banks:
- Revenue diversification away from interest-rate sensitive banking income
- Cross-selling opportunities between banking and insurance customers
- Increased customer touchpoints that can enhance retention
The addition of Sean Ellerbee to Colony Insurance's leadership team, with his two decades of industry experience, brings valuable expertise that can potentially accelerate organic growth beyond the immediate acquisition benefits.
While financial terms weren't disclosed (common for smaller transactions), this acquisition aligns with the consolidation trend among regional banks seeking scale and service diversification. For a bank with Colony's
The property and casualty insurance segment particularly complements banking services, as it provides regular client interaction points beyond typical banking transactions, creating deeper customer relationships and potential wallet-share expansion.
This acquisition expands Colony Insurance’s footprint and customer base with two new office locations in
Commenting on the announcement, T. Heath Fountain, Chief Executive Officer, said, “We are pleased to welcome The Ellerbee Agency to Colony. This acquisition supports our strategy of efficient growth and scalable expansion while staying true to our purpose of enabling progress in the communities we serve and delivering long-term value to our shareholders. The addition of experienced talent, strong customer relationships, and new markets positions us well for continued success.”
The Ellerbee Agency is led by Sean Ellerbee, a well-known industry professional with over two decades of experience. Sean will join Colony Insurance’s leadership team, where he will focus on sales and coaching efforts. The acquisition also includes the addition of eleven experienced agents, further strengthening Colony Insurance’s team.
Jason Barnes, President of Colony Insurance, added, “Sean and his team bring deep experience and a commitment to personalized service that aligns seamlessly with our culture. Their addition enhances our capabilities and creates new opportunities to improve our offerings as we continue to grow Colony Insurance.”
An investor presentation with additional details about the acquisition is available on the Investor Relations section of the Company’s website, www.colony.bank.
About Colony Bankcorp
Colony Bankcorp, Inc. is the bank holding company for Colony Bank. Founded in
Forward-Looking Statements
This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. In general, forward-looking statements usually use words such as “may,” “believe,” “expect,” “anticipate,” “intend,” “will,” “should,” “plan,” “estimate,” “predict,” “continue” and “potential” or the negative of these terms or other comparable terminology, including statements related to the future performance of the Company. Forward-looking statements represent management's beliefs, based upon information available at the time the statements are made, with regard to the matters addressed; they are no guarantees of future performance. Forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time and could cause actual results or financial condition to differ materially from those expressed in or implied by such statements. You should not place undue reliance on such forward-looking statements. The Company undertakes no obligation to update such forward-looking statements to reflect events or circumstances occurring after the issuance of this press release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250401391071/en/
For additional information, contact:
T. Heath Fountain
Chief Executive Officer
(229) 426-6000 (Ext 6012)
Source: Colony Bankcorp, Inc.
FAQ
What are the new locations added to Colony Insurance through the Ellerbee Agency acquisition?
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What is Sean Ellerbee's role following the acquisition by Colony Bankcorp?
What type of insurance agency is the Ellerbee Agency that CBAN acquired?
