First Financial in Terre Haute, Ind., has sold its insurance brokerage unit to USI Insurance Services in Valhalla, N.Y.
The $3 billion-asset First Financial did not disclose how much it received for selling Forrest Sherer to USI, an insurance brokerage and consulting firm.
"With this sale, First Financial is exiting the insurance brokerage market, allowing us to concentrate on our core banking business," Norman Lowery, the company's vice chairman and chief executive, said in a press release Monday. "We believe our Forrest Sherer customers will benefit from USI's product and service offering and interest in the market."
