State National Acquires Finegold Insurance

Deal culminates long partnership between two Collateral Protection Insurance specialists.

Bedford, TX – January 13, 2010 – State National Companies (SNC), the nation's leading provider of Collateral Protection Insurance (CPI) programs, announced that it has acquired the assets of the Finegold Insurance Agency of San Francisco.

"Finegold Insurance has been a valuable partner for State National over the past 11 years and our agent for Collateral Protection Insurance in California," says Trace Ledbetter, Senior Vice President at SNC. "They have gained a loyal following among their customers because of the personal attention provided by their staff, and we are pleased to be able to continue that tradition."

Because Finegold Insurance had represented State National exclusively for collateral protection insurance, the acquisition process will be completely transparent to the two companies' mutual customers. "This is an opportunity for State National to enhance our service to credit unions through a closer business relationship," says Ledbetter. "All the resources of State National are now directly available to those clients."

Finegold Insurance serviced over 100 credit unions in California, including several of the largest in the state. "Thanks to the partnership between Finegold Insurance and State National, we have been able to protect credit union's loan portfolios and provide outstanding service to their members," says Ledbetter. "That performance will continue now that Finegold Insurance is part of State National."