BRIEF: Evans Agency acquiring Richardson & Stout Insurance

May 15--Evans Bancorp's insurance business has made another deal, agreeing to acquire Richardson & Stout Insurance in Wellsville.

Terms of the deal, which is effective July 1, were not disclosed. It was the 16th insurance acquisition completed by Evans.

Richardson & Stout will retain its name and continue to operate from its Wellsville office, as a division of the Evans Agency, which is Evans' insurance subsidiary. All of Richardson & Stout's current employees will remain with the firm, including co-owners Richard Ewell, Ian Whitehouse and Aaron Whitehouse.

The deal will bring the Evans Agency's annualized premiums to more than $100 million.

Richardson & Stout traces its roots to agencies that were founded in 1903 and 1929. Following various mergers and acquisitions, the firm became known as Richardson & Stout in 1998.

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