Pioneer Bank plans to acquire Jaeger & Flynn Associates, an employee benefits brokerage, insurance, third-party administrative services, and human resources consultant which has offices in Saratoga Springs, Clifton Park and Glens Falls.
\nPioneer has branches in Clifton Park, Malta and Queensbury.
\nThe acquisition is intended to allow Pioneer to offer additional services to business customers, officials said. Terms of the deal weren\u2019t revealed but it is expected to be completed this summer.
\n\u201cThe addition of Jaeger & Flynn to the Pioneer Bank team uniquely positions us to be a true, full-service resource to our business clients,\u201d said Pioneer President and CEO Thomas L. Amell. \u201cAdditionally, Tom Flynn and Kurt Jaeger have built an organization whose business model fits perfectly with ours, and whose employee culture is of the caliber we practice at Pioneer.\u201d
\nJaeger & Flynn was founded in 1988 and has more than 500 business clients and hundreds of individual insurance clients.
\nPioneer was founded in 1889 in Troy. It holds more than $1 billion in assets and operates 22 branches locally. Pioneer previously acquired the Anchor Agency, a business and personal insurance firm, in 2016, and then launched Pioneer Benefits Consulting the following year.
\nOfficials said employees of the three combined operations will continue serving their current clients and the $400 million in combined premiums.
\nThe three will continue to operate with their individual identities and maintain their current offices. Jaeger & Flynn\u2019s top leaders will remain on board\u2014Flynn as president of insurance operations for the combined operations and Kurt Jaeger in his leadership role at Jaeger & Flynn.
\nCristina Tronco and Kathy Boltz will continue in their leadership roles at Pioneer Benefits Consulting and the Anchor Agency, respectively.<\/p>\n","protected":false},"excerpt":{"rendered":"
Pioneer Bank plans to acquire Jaeger & Flynn Associates, an employee benefits brokerage, insurance, third-party administrative services, and human resources consultant which has offices in Saratoga Springs, Clifton Park and Glens Falls. Pioneer has branches in Clifton Park, Malta and Queensbury.<\/p>\n","protected":false},"author":196,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"yoast_head":"\r\n