Emerge News | January 2023

Happy New Year to all! 2022 certainly flew by in the blink of an eye! As we wrap up the year and forge into new beginnings for 2023, there are many things to be thankful for. Too many, indeed, to count on this single letter. In all, First MainStreet Insurance (FMSI), formed 11 new partnerships in 2022.

It truly was a banner year. As you may have seen last month, we formed a new partnership in South Dakota, and we look forward to building the platform out in the Upper Plains. In Iowa, we continued to grow with 10 additional agencies joining the family.

As a division of TrueNorth, FMSI has vaulted into a mainstay in the independent insurance channels. The idea of maintaining local legacies, continued entrepreneurialism in small-town USA and giving independent insurance agencies powerful resources is making many insurance agency owners turn their heads in our direction.

We are not only getting high praise from our existing agency partners, but the industry as a whole is starting to notice as well. Evidence of this comes by the way of “The Rough Notes Company” and their recent November publication where FMSI was recognized as their feature story. While the allure of national praise is not what we set out for, it certainly is welcome when coming from the leading insurance magazine in the United States.

First MainStreet Welcomes THREE New Agencies as it Closes 2022!

Wegner Insurance Agency, located in Sumner, Iowa, joined FMSI at the beginning of December. Led by Doyle Wegner for many years, Wegner Insurance Agency is stocked full of great clients, an excellent and long-standing staff, and a strong mix of insurance carriers. Doyle has had a successful career in insurance and his embrace of our platform has been refreshing. With Doyle and team still intact, we look forward to the years to come. This acquisition is key to our continued growth in northeast Iowa.

Also joining us at the end of December was McFadden Insurance Services. Sue McFadden has been a powerful force during her time in the industry. She founded her agency with specialization in mind. McFadden Insurance writes dentists’ offices around the state of Iowa and is known as an expert in her craft. We couldn’t be more thrilled to bring her agency into the fold, learn from her, continue her legacy, and promote her specialization around to our existing agency partners.

With our third acquisition in December, we are proud to announce the acquisition of Pacha Insurance Agency in Fairfield, Iowa. David Pacha is a second-generation insurance agency owner, having acquired the agency from his father. This agency’s inception dates back to 1954. Bringing a mix of personal lines and crop insurance in the door, Pacha’s Insurance is poised for continued growth and preservation of its legacy. If Fairfield rings a bell, this is FMSI’s third acquisition to date in this great southeastern Iowa town.

Looking Ahead to 2023 and Beyond

As we head further into 2023, I am excited to say that our pipeline remains quite full. We continue to implement these new agencies into the platform successfully and are truly honored they chose FMSI as their destination. We continue to win in this marketplace for a multitude of reasons. The highest of them is all based around people. We have a team in place that is eager to engage, happy to lend a helping hand, and thoughtful about how we approach each and every deal. If you are looking for something different, please do not hesitate to reach out to me.

We are 40+ locations and growing…would your agency and your legacy benefit from being next?

Cheers to your New Year!

Dan Driscoll
Director of Strategic Expansion and M&A

DDriscoll@truenorthcompanies.com
319-739-1444