First American Title Insurance Company Acquires First American Title Company of Marin
June 24, 2004, SANTA ANA, Calif.
First American Title Insurance Company today announced that it has acquired Calif.-based First American Title Company of Marin. Terms of the transaction, which closed Apr. 30, 2004, were not disclosed.
First American Title of Marin holds a leading market share position in Marin County, Calif., one of the state’s most affluent counties and second highest overall in average home values. Originally founded with the assistance of First American in 1969, First American Title of Marin has grown to employ 65 people through its escrow branches in Novato, San Rafael, Greenbrae and Mill Valley, Calif.
“The direct operations of First American Title in the Bay Area have enjoyed a great relationship with First American Title of Marin over the years, and we’re pleased to have this opportunity to bring additional resources to this successful business and its excellent staff,” said Mark Sachau, First American Title regional vice president. “Once fully integrated with First American’s FAST title and escrow technology, First American Title of Marin will be able to deliver even better service and more products to our customers in Marin County.”
Michael Forkin, First American Title’s San Francisco County manager, will direct the Marin County operation. Forkin is an attorney with 11 years of management experience at First American.
Long-time First American Title of Marin owner-operator, Jack Duggan, has announced he will retire following the transaction, while business partner and former co-owner, Myra Engelkes, will remain with the company and focus on bringing superior escrow service to her customers in the Greenbrae Branch Office.
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 1,500 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.