Printer Friendly

SURETY CAPITAL SUBSIDIARY COMPLETES ACQUISITION OF INSURANCE PREMIUM FINANCE PORTFOLIO

            SURETY CAPITAL SUBSIDIARY COMPLETES ACQUISITION
                 OF INSURANCE PREMIUM FINANCE PORTFOLIO
    HURST, Texas, Nov. 6 /PRNewswire/ -- Surety Capital Corporation (NASDAQ: LOAN) of Hurst, Texas announced today that its wholly owned subsidiary, Texas Bank N.A., completed its acquisition of certain insurance premium finance loans from PCO Premium Finance Company, Houston, Texas.  In connection with this transaction, PCO and its principals entered into a noncomplete agreement, with respect to engaging in insurance premium financing, which calls for all future insurance premium finance business previously conducted through PCO to be directed to Texas Bank, N.A.  Surety had previously announced the signing of a letter of intent with respect to this transaction.
    Surety also announced today that a proposed acquisition of certain insurance premium finance loans from Magnolia Acceptance Corporation, Kansas City, Mo., which had previously been announced, will not be consummated.
    Surety Capital Corporation is a bank holding company which owns Texas Bank, N.A., a commercial lender which specializes in casualty insurance premium finance loans, through its Surety Premium Finance Division.  Its offices are located in Lufkin and Hurst, Texas.
    -0-          11/6/91
    /CONTACT:  C. Jack Bean of Surety Capital, 817-498-8154/
    (LOAN) CO:  Surety Capital Corporation; Texas Bank N.A.; PCO Premium
     Finance Company ST:  Texas IN:  FIN SU: JT -- NY052 -- 1736 11/06/91 12:52 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 6, 1991
Words:218
Previous Article:IMRE CORP. ANNOUNCES SEPARATION OF WARRANTS FROM UNITS
Next Article:UNITED TECHNOLOGIES AUTOMOTIVE OPENS FIRST PLANT IN HUNGARY
Topics:


Related Articles
NUCORP ANNOUNCES AGREEMENT TO PURCHASE SPECIALTY INSURER SUREWEST FINANCIAL CORP.
CHANDLER INSURANCE CO. REPORTS 1994RESULTS AND A.M. BEST CO. RATING UPGRADE
CHANDLER INSURANCE CO. REPORTS FIRST QUARTER 1995 EARNINGS INCREASE
DCR RATES CANADIAN GENERAL INSURANCE GROUP'S SUBORDINATED DEBT AND PREFERRED SECURITIES 'BBB-'
PEMBRIDGE INC. ACQUIRES AMERICAN SURETY & CASUALTY HOLDING COMPANY
U.S. Fidelity Holding Corp. Affiliate Completes Acquisition of Dallas, Texas-Based Estate Paint and Body Auto Collision Repair Center
U.S. Fidelity Holding Corp. Affiliate, Unistar Financial Services, L.L.C., Acquires Two More Dallas Auto Insurance Agencies
Unistar Financial Service Corp. Completes Acquisition of U.S. Fidelity Holding Corp. and Its Subsidiaries, Including Great Southern
CNA Surety Announces Acquisition of The Bond Exchange.
XL Capital Announces Agreement With CGU Regarding CGU's US Surety Business.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters