NATIONAL BROKERS AND BANKS FORGE AHEAD WITH DEALS

Rough Notes, Mar 2005

Sandy Spring Bank (www.sandyspringbank.com) acquires certain assets and liabilities of Wolfe & Reichelt Insurance Agency, located near Burtonsville, Maryland.

Wolfe & Reichelt is a primarily commercial lines firm with approximately $700,000 in annual revenues. Principals Charles J. Reichelt and James N. Hutchinson will continue with the agency; principal Roger E. Wolfe is retiring.

"It has been our goal to broaden our insurance agency business in the markets we serve," said Hunter R. Hollar, president & chief executive officer of Sandy Spring. "This opportunity allows us to serve the small business community in the Montgomery County area and complements the products and services we already offer through Chesapeake Insurance Group."

The bank's parent, Sandy Spring Bancorp has $2.5 billion in assets, and is the third largest publicly traded banking company headquartered in Maryland.

Sky Financial Group (www.skyfi.com) merges Stouffer-Herzog Insurance Agency, Inc., of Ashtabula, Ohio, into its affiliated agency after acquiring the bank that owned Stouffer-Herzog.

Stouffer-Herzog had been owned by second Bancorp Incorporated, which was acquired by Sky Financial in mid-'04. The agency will continue to operate at its current location with existing personnel as a branch of Sky Insurance.

Sky Financial Group, based in Bowling Green, Ohio, operates 280 financial centers in Ohio, Pennsylvania, Michigan, Indiana and West Virginia.

U.S.I. (www.usi.biz) plans to acquire Patterson/Smith Associates of Falls Church, Virginia.

Patterson/Smith, founded in 1961, produces approximately $11 million in annual revenues. About 65% of Patterson/Smith's revenue is from property/casualty and the remainder is from employee benefits.