Texas Regional Bank acquires insurance agency

In early December, Texas Regional Bank, Harlingen, announced the addition of insurance to its suite of financial services. TRB Insurance will offer a wide range of products and services, including home, auto and life insurance, as well as commercial insurance.

“At TRB, we place a heavy emphasis on relationships; our goal is to guide our customers on their financial journeys, and now that includes insurance,” said TRB Chairman and CEO Michael Scaief.

The new TRB Insurance Division comes by way of acquisition. The bank acquired Mission Duncan Insurance of Mission, Texas, and plans to build on its more than 100-year history in the insurance business.

“We couldn’t have asked for a better partner,” said Keith Padilla, CEO of Mission Duncan Insurance. “TRB will leverage our agency’s expertise to build a statewide insurance division. For our existing customers, the transition is seamless — a new name, but the same values focused on our customers and community.”

TRB Insurance will operate as an independent insurance agency, allowing it to shop for the best coverage and rates for its customers.

“Our consumer and business customers are busy people. They don’t have time to call around and shop for the best coverage and rates,” said Ryan Newman, the president of TRB Insurance. Newman, who started with the bank in June 2022 to launch an insurance division, added, “We make life easy by doing that for them; we do the legwork and present the best options to the customer.”