First American Title to Acquire Columbian National Title Insurance Company and Affiliates
May 24, 2004, SANTA ANA, Calif.
First American Title Insurance Company today announced that it has signed an agreement to acquire Columbian National Title Insurance Company of Topeka, Kan., and its affiliated underwritten title companies from McCaffree Financial Corporation. Terms of the transaction, which is subject to normal Department of Insurance regulatory approval, were not disclosed.
A strong regional underwriter, Columbian National Title is a licensed insurer in 11 states, including Kansas, Texas, New Mexico, Arizona and Montana. Through its direct offices and affiliated underwritten title companies, the company achieved a net income of nearly $2 million in 2003 on total revenues of roughly $11 million.
The company and its affiliates, which include Columbian Title of Johnson City, Inc.; Columbian Title of Kansas City, Inc.; Columbian Title of Topeka, Inc.; and Columbian Title of Wichita, Inc.; operate several title plants and employ approximately 100 full-time employees.
First American Title Insurance Company, the largest subsidiary of The First American Corporation, 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.