Harlingen-based Texas Regional Bank recently announced its acquisition of Smith-Reagan Insurance, a leading provider of commercial insurance services based in Cameron County. The acquisition expands the bank’s insurance offerings and positions it to provide a broader range of commercial insurance solutions to businesses of all sizes. The acquisition is part of the Texas Regional Bank’s continued expansion of its insurance subsidiary. TRB Insurance Agency was established in 2022 and began issuing policies by acquiring Mission-Duncan Insurance.
“This acquisition is a key milestone for our insurance division’s growth strategy,” says Ryan Newman, TRB Insurance division president.
The acquisition on was completed on October 5. TRB Insurance will continue to operate as an independent insurance agency, offering competitive policies from premier national insurance carriers. Joe Reagan, CEO of Smith-Reagan Insurance, will assume the role of vice president of insurance sales. The transaction also includes 18 Smith-Reagan insurance professionals who will continue operating out of their current San Benito location and will serve the insurance needs of Texas Regional Bank’s branch network across Texas.
Established in 1909, Smith-Reagan Insurance offers personal and business insurance solutions in the Rio Grande Valley from a network of national insurance carriers. The company shares a tradition of community engagement with Texas Regional Bank, including volunteer efforts and local event sponsorships.
“This acquisition will allow us to leverage Texas Regional Bank’s markets and resources to serve our clients better and offer a broader range of insurance and financial solutions,” Reagan says.
Established in 1987, Texas Regional Bank operates 30 banking centers across the Rio Grande Valley, Texas Hill Country, Houston, and Dallas/Fort Worth metroplex.
Pictured above: The Smith-Reagan Insurance team