Ohio-based Heartland BankCorp to Purchase Title Agency
September 11, 2018
Heartland BancCorp, parent company of Heartland Bank, announced Sept. 4 that it entered into an agreement to purchase TransCounty Title Agency.
With approximately $2 million in gross revenue, TransCounty provides commercial and residential title services along with searches and escrow services. The title agency has three branch locations and two additional closing locations in central Ohio.
“Risk mitigation, smooth closings, and well-informed clients create value in real estate transactions for all involved,” said Scott McComb, chairman, president and CEO of Heartland BancCorp. “TransCounty has a stellar reputation in the marketplace and will enhance our delivery going forward. Creating non-interest income in our related businesses is a significant part of our strategic plan, and this partnership will make for a good return for our shareholders.”
Heartland BancCorp is a registered Ohio bank holding company and the parent of Heartland Bank, which operates 15 full-service banking offices. Heartland Bank was founded in 1911. In May 2018, Heartland was ranked No. 37 on the American Bankers’ list of Top 200 publicly traded community banks and thrifts based on three-year average return on equity.
Patrick T. John, owner, president and CEO of TransCounty Title Agency, added “We are delighted to partner with Heartland BancCorp and the opportunity this presents to work with a leader in community banking and to expand alongside Heartland throughout Ohio. Our shared common core values of integrity, ethics, professionalism and superior service makes this acquisition a great match for years to come.”
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