By Ben GlickmanCB Financial Services will receive at least $30.5 million from the sale of its insurance agency subsidiary. The Washington, Pa.-based holding company for Community Bank and Exchange Underwriters said that it had entered into an asset-purchase agreement with World Insurance Associates, under which the company will receive $30.5 million in cash and potential revenue-based earn-out payments for its Exchange Underwriters business.

Source: Wall Street Journal December 02, 2023 03:09 UTC