FIRST AMERICAN TITLE INSURANCE COMPANY COMPLETES ACQUISITION OF SECURITY LAND TITLE COMPANY
November 19, 1999, SANTA ANA, Calif.
"The acquisition of Security Land Title marks the fifth acquisition in Kansas this year," said Gary L. Kermott, president of First American Title Insurance Company. "The acquisition complements our recent purchases of Barton County Abstract & Title Company and Ford County Title Company, and, along with our acquisition of the Guarantee Land Title companies in Johnson, Wyandotte and Leavenworth counties, made earlier this year, gives us greater geographical coverage, economies of scale and a larger customer base from which to expand the reach of our statewide, fully automated and centralized title-searching capabilities.
"In addition, Security Land Title has the only title plant in Johnson County, with a comprehensive compilation of records dating back to the 1800s. This, added to First American's Smart Title Solutions subsidiary, the nation's largest owner of title indexes with more than 450 million records in its primary databases, and our Data Tree subsidiary, the nation's largest repository of imaged recorded title documents with over 600 million records in its databases, fits perfectly with our strategy of developing the largest and most integrated database of property information in the nation."
Security Land Title has approximately 200 employees in 11 locations, including offices in Blue Springs, Gladstone, Independence, Kansas City, Liberty, Olathe, Overland Park and Raymore. In addition, Security Land Title also maintains offices in Lee's Summit, Mo., and Harrisonville, Mo.
In 1974, Kerwin founded Land Title to provide quality services to the real estate industry, and in 1990, the company changed its name to Security Land Title Company. Kerwin, a 31-year veteran of the title industry, will continue to serve as president of Security Land Title, with Terry Anderson, Ed Gomez and Bill Perry serving as executive vice president, senior vice president and vice president-general counsel, respectively. Security Land Title will continue to operate under its current name with no operational changes.
"The initial phase of the transition has been well received, with positive feedback from our customer base and the local business community," said Kerwin. "They recognize, as do we, that First American is a company with a strong reputation for professionalism. Now that we are fully integrated into the First American family, we will be able to offer a much broader selection of products and services to our customers, as well as additional opportunities for our employees."
The First American Financial Corporation, based in Santa Ana, Calif., is the nation's leading provider of business information and related products and services. The corporation's three primary business segments include: title insurance; real estate information and services, which includes mortgage origination, mortgage servicing and database products and services; and consumer information and services, which provides home warranties; automotive, subprime and direct-to-consumer credit reporting; property and automotive insurance tracking services; resident screening; pre-employment screening; lender-placed flood and hazard insurance; investment advisory; and trust and banking services. Through its family of companies, First American Financial has nearly 20,000 employees in more than 600 branch offices in the United States and abroad. Information about the company and an archive of its press releases can be found on the Internet at www.firstam.com.