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SWBC Acquires Three Companies
October 1, 2012 (SAN ANTONIO, TX) – SWBC announced today the acquisition of three specialty risk management firms – NINPRO, FICOR and NINPRO Data. The regionally based companies will expand SWBC’s market share in the Pacific Northwest and Midwest territories by nearly 300 financial institutions and further emphasizes SWBC’s commitment to the small and mid-market credit union industry. FICOR and NINPRO have been providing insurance tracking and compliance services to financial institutions for more than 30 years. NINPRO Data is a software development firm whose proprietary Sure-Track system is used by several insurance agencies across the US.
“The FICOR and NINPRO culture is an excellent fit for the small and mid-market financial institution as they place a significant amount of focus on consistent, visible, and high touch service,” said Mark Hein, CEO of SWBC’s Financial Institution Group. “Our strategic plan is to introduce many of our clients to their service environment and overlay a few of the technologies that we have deployed to further lower those organizations cost structure. This is a great fit for both teams.”
“Although we believe our technology is second to none, acquiring the NINPRO Data platform will allow us to introduce new features and functionality to current SWBC customers at a much quicker pace,” said Brad Young, Chief Operating Officer of SWBC’s Financial Institution Group. “We have several innovative solutions that will be introduced during the first quarter of 2013, that we believe will complement this market’s objective to thrive in the competitive landscape dominated by larger financial institutions.”
Ken Schweitzer, CEO of FICOR, and Jerry Snider, CEO of NINPRO, will remain in charge of those organizations as both businesses will continue to operate under current management and operational structure. “We are excited about the merger. I have known Gary Dudley and Charlie Amato (Co-founders of SWBC) for 20 plus years, and they have put together a great team that will complement our growth initiatives going forward,” said Ken Schweitzer. “We are confident that the investment SWBC will place in both our existing technology and people will become a formula for success,” he continued.
“SWBC’s technology and facilities are really pretty amazing, and it is easy to understand why they are so well respected in the credit union community,” said Jerry Snider. “We are already scoping out ways to integrate some of their tools within the Sure-Track platform in order to deliver best practice processes to our customer base.”
About SWBC
Headquartered in San Antonio, SWBC is a diversified financial services company providing a wide range of insurance, mortgage, and investment services to financial institutions, businesses, and individuals. With offices across the country, SWBC is committed to providing quality products, outstanding service, and customized solutions in all 50 states. For more information, visit SWBC’s website at www.swbc.com.