Sanatoga PA-based insurance broker Fisher Benefits Consulting, 5 S. Sunnybrook Rd., finalized its sale last week (Sept. 1, 2008) to a division of VIST Financial Corp. The sale price was not disclosed.
Founded more than 25 years ago and owned by David W. Fisher, Fisher Benefits Consulting specializes in employee benefits. VIST Financial of Wyomissing PA, formerly known as Leesport Financial Corp., said in a press release the Fisher acquisition would add $1 million in annual revenues to its insurance subsidiary, VIST Insurance LLC. As the newest addition to the bank-owned insurance agency, Fisher was not expected to change staff or operations, the press release said, but will carry the VIST Insurance brand name within 6 months.
VIST said the purchase expands its market between Blue Bell (Montgomery County) PA, where its insurance subsidiary is located, and its home offices in Berks County. The Fisher acquisition is the third the bank has made since 1998, and reflects its strategy to increase income during difficult economic times by relying on revenue sources other than banking fees, according to corporation President Robert Davis.