Bell Bank is buying Warner and Company Insurance, which was founded in Fargo, N.D., more than 100 years ago.
Also based in Fargo, Bell Bank will also buy two Warner subsidiaries based in Minnesota: Schiller Insurance in Detroit Lakes and Thompson-Schaefer Insurance Agency in Grand Forks. Together, the three agencies have 30 employees.
“We’re very excited to have the team from Warner and Company become part of the Bell Bank family,” said Michael Solberg, president and CEO of the $5.1 billion Bell. “Warner has a century-long commitment to building our community and treating people the right way. It’s a fantastic culture fit for our two companies.”
Brian Hayer, president and CEO of Warner and Company, will remain managing director of all three insurance agencies under the Bell Insurance brand.
The deal is expected to close March 31, after which the Fargo and Grand Forks insurance agencies will keep their current offices, while the Detroit Lakes agency will be moving into Bell’s Detroit Lakes location.
Warner and Company’s current Fargo offices at 318 Broadway in downtown Fargo are undergoing a major renovation, which should be completed around the same time as the close of the purchase.