First American Title announces the purchase of Peterson Abstract in Center City, Minnesota


First American Title Insurance Company announced today that it has purchased Peterson Abstract in Center City, Minnesota. It will be part of the Universal Title division of the company.

"We have continually over the years added branch operations to our network," President Parker S. Kennedy said. "Peterson has an excellent title plant and an important location. Branches of this size can be very profitable." According to Kennedy, First American now has nine branch offices in critical counties in Minnesota.

The owner of Peterson Abstract, LeeVerne Peterson, recently passed away. The new branch will be managed by Kathleen Foley Brown, who will now have responsibility for Chisago and Pine counties. Brown joined Universal in 1986 and has been Washington County manager for several years. Barbara Johnson, Sharon Lundeen, Linda Amundson and Linda Lindgren, all former employees of Peterson Abstract, will work in the new branch.

First American Title Insurance Company, principal subsidiary of The First American Financial Corporation, celebrated its 100th anniversary in 1989. One of the largest title insurers in the nation, it offers title services through a network of more than 300 offices and 4,000 agents in all 50 states. It also provides title services abroad in the Bahamas, Bermuda, Canada, Guam, Mexico, Puerto Rico, the U.S. Virgin Islands and the United Kingdom. National headquarters are located in Santa Ana, California.


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