The First American Financial Corporation acquires control of Southwest Title ...


September 6, 1990, SANTA ANA, CALIFORNIA

The First American Financial Corporation has acquired control of the Southwest Title & Trust Company of Oklahoma City, Okla., for cash and notes, according to D.P. Kennedy, president.

"Southwest Title & Trust Company fits well into our Oklahoma title network and provides the company with an interest in an Oklahoma County title plant as well as title plants in Cleveland County and Pottawatomie County," Kennedy said.

Dewey Jernigan, president of Southwest, will remain as a consultant and honorary board chairman. James Kott, First American state manager for Oklahoma, was elected to succeed him as president. First American's Oklahoma operations will be moved to Southwest's building.

First American plans to acquire the balance of the shares held by the minority interest as soon as possible.

The First American Financial Corporation, based in Santa Ana, Calif., operates its title insurance business through its principal subsidiary, First American Title Insurance Company, one of the largest title insurers in the nation. The company offers title services through a network of more than 5,500 offices or agents in all 50 states. It also provides title services abroad in the Bahamas, Guam, Mexico, Puerto Rico, the Virgin Islands and the United Kingdom.

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