On December 5, Harlingen-based Texas Regional Bank (TRB) 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. The new TRB Insurance division was created with the acquisition of Mission Duncan Insurance of Mission, which has served South Texas and the Rio Grande Valley for more than 100 years. The Mission Duncan Insurance acquisition closed on December 2.
“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,” says Michael Scaief, TRB chairman and CEO.
“We couldn’t have asked for a better partner,” says Keith Padilla, CEO of Mission Duncan Insurance. “TRB will leverage our agency’s expertise to build a statewide insurance division.”
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,” says Ryan Newman, president of TRB Insurance. Newman joined Texas Regional Bank in June 2022 to launch the insurance division.
Established in 1987, Texas Regional Bank operates 26 banking centers across the Rio Grande Valley, Texas Hill Country, Houston and the Dallas/Fort Worth Metroplex.