Univest in Pennsylvania Buys Sterner Insurance Associates

By Paul Davis July 01, 2014, 2:43 p.m. EDT 1 Min Read

M&A

Univest to Buy Valley Green Bank in Pennsylvania

Univest Corporation of Pennsylvania in Souderton has agreed to buy Valley Green Bank in Mount Airy, Pa.

By Paul Davis

June 18

Univest Corporation of Pennsylvania (UVSP) in Soudertown has purchased Sterner Insurance Associates in Coopersburg, Pa.

The $2.2 billion-asset Univest said in a press release Tuesday that Sterner is its eighth agency acquisition. Financial terms of the Sterner deal were not disclosed.

Sterner has 21 employees and two offices. The agency specializes in commercial insurance, employee benefits, personal insurance, life insurance and business continuation planning.

"Growth of the Univest Insurance business through acquisition is part of our long-term strategy to expand our solutions and meet the financial needs of consumers and businesses in the region," Ronald Flaherty, president of Univest Insurance, said in the release. Sterner "has been a well-run agency with steady, profitable growth over two decades."

Univest also agreed last month to buy Valley Green Bank in Mount Airy, Pa., for $76 million.

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