First American Title Insurance Company Acquires Yakima Title & Escrow Company
|November 27, 2002|
SANTA ANA, Calif., Nov. 27 /PRNewswire-FirstCall/ -- First American Title Insurance Company has acquired Yakima Title & Escrow Company of Yakima, Wash., for an unspecified amount. The acquisition, completed Nov. 1, 2002, expands First American's direct operations presence in Washington and brings an experienced team of local title and escrow officers to First American.
Established in 1899, Yakima Title has served the Yakima Valley region since the earliest days of Yakima County. One of five competing title companies in the area, Yakima Title consistently ranks as the market-share leader, controlling 32 percent of the market and generating more than $2 million in net revenues in 2001. First American has been Yakima Title's exclusive underwriter since 1991.
"First American has enjoyed a strong agent-underwriter relationship with Yakima Title for many years," said John R. Thoma, chief financial officer of First American Title Insurance Company. "This acquisition fits our strategic plan for Washington state and brings a great operations manager in Brenda Rawlins to our ranks as well. This is a solid move for both First American and Yakima Title."
Source: First American Title Insurance Company