First American Title Acquires Polk County Abstract Company
May 27, 2003, SANTA ANA, Calif.
First American Title Insurance Company, one of the nation’s largest title insurers and a member of The First American Corporation (NYSE: FAF) family of companies, today announced the acquisition of Polk County Abstract Company of Balsam Lake, Wis., for an unspecified amount. The acquisition, completed in April 2003, expands First American’s direct operations in Western Wisconsin and brings an experienced team of local title and escrow officers to First American.
Located northeast of Minneapolis-St. Paul, Minn., Polk County is home to an increasing number of Twin Cities commuters and vacation property owners. The desirability of this pristine yet accessible wooded area has resulted in rapid growth and elevated home prices in relation to surrounding regions.
Since 1892, Polk County Abstract has served the needs of landowners throughout Polk County, maintaining a complete set of county records spanning 111 years. In 1975, Bryce Thomson purchased Polk County Abstract and established an agent-underwriter relationship with First American. The largest title company in the county, Polk County Abstract has generated strong revenues through quality work and renowned customer service.
“First American is pleased to continue our relationship with Bryce Thomson and the great staff at Polk County Abstract,” said Mel Bois, North Central Region vice president for First American. “We see this as an excellent opportunity to increase our presence in the region.”
First American Title Insurance Company, the largest subsidiary of The First American Corporation (NYSE: FAF), traces its history to 1889. One of the largest title insurers in the nation, the company offers title services through nearly 1,200 offices and an extensive network of agents throughout the United States and abroad. The company has its headquarters in Santa Ana, Calif. Information about The First American Corporation’s subsidiaries and an archive of its press releases can be found on the Internet at www.firstam.com.