James L. Saner Sr., president and chief executive of Indiana United Bancorp, has signed a letter of intent to acquire the insurance agencies of Vollmer & Associates Inc. The agencies will be merged with the operations of The Insurance Group, which was formed in 1999 and is wholly owned by Indiana United Bancorp.
Incorporated in 1996, Vollmer & Associates is a community-focused company with four offices servicing Madison, Batesville, Osgood and Brookville, Indiana. The company specializes in property and casualty insurance, which will take the combined gross premiums of The Insurance Group to approximately $13 million per year. The transaction is expected to close in the first quarter of 2001.
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