First American Title announces the purchase of Republic Title of Texas, Inc.


August 1, 1994, SANTA ANA, CALIFORNIA

First American Title Insurance Company announced today the purchase of Republic Title of Texas, Inc. Terms of the acquisition were not disclosed, but First American indicated that they will continue to use the Republic name in the Dallas-Fort Worth area. First American previously owned 20 percent of the company.

Republic Title, which has been operating under that name since 1991, wrote in excess of $15 million in title premiums in 1993. Republic has a strong presence in the commercial market, currently doing over one-third of the commercial business in the Dallas-Fort Worth Metroplex through its Crescent office in Dallas. Republic owns title plants in Dallas, Collin, and Tarrant counties.

"Principals William A. Kramer, Paul A. Pulliam and David A. Shuttee will all continue in their current positions with Republic Title," said First American Title Regional Vice President Dennie Rowland, "ensuring that customer service will be of consistent quality while the company strives to develop new escrow-related products and expand in its chosen markets."

While all aspects of the commercial operation will remain unchanged, First American plans to expand under the Republic Title name in the Metroplex to service residential title and escrow customers, further augmenting the strong commercial department. Drew Scott, who has been manager of First American's Austin office for the past five years, has been named executive vice president of Republic and will manage the residential division.

First American Title Insurance Company, principal subsidiary of The First American Financial Corporation (NYSE: FAF), traces its history to 1889. 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 throughout the United States. It also provides title services abroad in the Bahama Islands, Bermuda, Canada, Guam, Mexico, Puerto Rico, the U.S. Virgin Islands and the United Kingdom. The company has its headquarters in Santa Ana, California.

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