Mid-Missouri Insurance buys Joplin company

Mid-Missouri Insurance has conducted an acquisition.

The Springfield company, owned by Mid-Missouri Bank, announced the purchase of Joplin-based Midwest Insurance Associates in a news release this morning. A spokesperson declined to disclose the financial terms of the acquisition and the size of Midwest Insurance Associates' book of business.

“Bill and Bonnie Hinman have built an extraordinary book of business in their impressive career, and we’re proud to be the insurance agency they trust to eventually take over the service of their Midwest Insurance Associates policyholders — both commercial policies and personal policies," said Michael Miller, president of Mid-Missouri Insurance, in the release. “We know Midwest’s policyholders will benefit from our insurance agency’s ability to save them money, via options from multiple providers, while still providing the best policy to meet their family’s or business’ requirements.”

Bill Hinman is relocating to Mid-Missouri Bank's Joplin branch on Oct. 1. The two businesses are a few hundred yards apart from each other.

"We’re extremely excited about Mid-Missouri Insurance expanding into the four-state area," said Andy Perigo, Joplin community president for Mid-Missouri Bank, in the release.

Mid-Missouri Insurance operates in Joplin, El Dorado Springs, Stockton, Bolivar, Springfield, Lebanon and Richland. A new Mid-Missouri bank branch underway in Webb City also will have a Mid-Missouri Insurance presence, according to past reporting.