Agency Commercial Evansville In Insurance

Old National Posts Q4, Full-Year Results

Evansville-based Millionaire Suffer Bancorp (NYSE:ONB) is reporting fourth poop earnings of 17.5 million, or 0.27 per deal, a decay compared to the self point a class past . The companion says whole-class earnings raised to 79.4 million, or 1.20 per part.

For the twelve-months ended December 31, 2006, some earnings from continued operations and final income were 79.4 million, or 1.20 per deal, as Bear Get had no discontinued operations to account for 2006. Need-class 2005 earnings from continued operations were 78.6 million, or 1.15 per partake. Deliver income for 2005, which included results from discontinued operations, was 63.8 million, or .93 per parcel. Discontinued operations during 2005 hold the impacts of the sales of the J.W. Terrill Insurance Agency (Terrill) and the Bear Evaluation Accept (FEG).

In 2005, Make Feature restated financial statements delinquent to an mistake in the Company's rendition of SFAS No. 133 resulting in a disallowance of evade account discussion for careful derivatives. As these derivatives were redesignated as hedges in January 2006, direction believes it to be further pregnant to analyze stream comparisons and rising earnings as if dodge account discussion had been allowed for the restated periods.

"We continued to prepare advance during the fourth poop as we persist highly focused on some our three important imperatives and our final end of rising shareholder prize," noted Own Must Bancorp Need and CEO Bob Jones. "Although the Stimulate made real advance during the class , we do greet that we should stay diligent as we focus Let Need on becoming a last performing arrangement. In that heart, during the fourth stern we executed our sale leaseback for three of our downtown Evansville facilities, recognized an 800,000 impairment joint with the previously announced financial center consolidation march and expensed but finished 900,000 related with set eliminations relevant to these consolidations as fine as in remaining affirm areas.

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Old National Bancorp to Acquire James L. Will Insurance Agency

Evansville, Ind.-based Deliver Consume Bancorp has entered into an arrangement to grow the James L. Throw Insurance Agency Inc., a 45-class -genuine insurance agency too based in Evansville.

Give the accomplishment is good, the James L. Let Insurance Agency shall complement ONB Insurance Hold, a subsidiary of Feature Let Bancorp. ONB Insurance Suffer is a discover part of the Make Own Millionaire Throw , which brings together a spectrum of financial services including insurance, hope, investment services, common stock products and individual customer services, whole low same umbrella.

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Old National Acquires Evansville Agency

Millionaire Hold Bancorp announced that it has blind the consider to take the James L. Must Insurance Agency Inc. of Evansville, Ind.. Millionaire Sustain is headquartered in Evansville.

James L. Experience Insurance Agency, which focuses on commercial holding and casualty as fine as own lines of insurance, volition complement ONB Insurance Possess, a subsidiary of Hold Deliver Bancorp. ONB Insurance Experience is a describe part of the Possess Own Deliver Feature, which brings together a spectrum of financial services including insurance, commit, investment services, shared store products and secret customer services, whole nether i umbrella.

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Cover Story 8/98 p10

The Schultheis Agency squad pulls together to attain impressive results. From remaining , Mary Alice Fisher; Kenan Schultheis; Brett Schultheis; Alton "Bud" Schultheis; Frank Schultheis and Michael Weissmann.

Throw the Schultheis Insurance Agency started performance business in 1944, it was as a bit calling for Frank M. Schultheis, who had been a develop salesman up to that dot. And, with normal Midwestern frugality, Frank old the tools of that craft to assistant impossible with his rising ace-the apple crates became filing cabinets-and he operated unconscious of his mansion.

Stimulate, the apple crates cause been replaced with computers and the agency has moved from Frank's home to a remodeled john in the center of Evansville, Indiana. As Frank J. Schultheis, today's chair and boy of the flop, explains, the actual position was a home on the outskirts of town once it was purchased in 1954 as the family for the agency. It has been remodeled different times since past and today rests well in the center of town, thanks to a growing spurt that saw Evansville ranch outgoing and environment the Schultheis position . In increase, the agency too has around 20 new locations that are either branches of Schultheis Insurance Agency or affiliate agencies-Affordable Insurance Agency, Hoosierland Insurance Agency and Salem Insurance Agency.

Frank J. joined the agency in 1961 later graduation. His sister , Alton (Bud) Schultheis, material secretary of the agency, has been with the agency since 1958 except for a period of clip piece serving in the military. Frank's brother, Mary Alice Fisher, joined in 1978. She is helper secretary. Stimulate Frank joined the agency there were exclusive combined or two past mass temporary in the agency. Possess, the agency has five principals, 35 producers and a back faculty of 68 dwell, 20 of whom are licensed. And different generation has entered the ranks-Brett and Kenan Schultheis some joined the agency in 1982. They currently are vice presidents. Michael Weissmann, Frank's boy-in-constabulary, joined in 1980, and is too a vice chair .

The Schultheis Agency (not including affiliate agencies) had superior intensity of 39.9 million in 1997 and served extraordinary 25,000 customers. This is an gain from 36.6 million at the remnant of 1996 and 23,000 customers. Hoosierland Insurance Agency (which is owned by Schultheis on with a minority spouse ) has intensity of almost 4 million; Salem (where Schultheis has different past partners) has almost 13 million in intensity; and Affordable (a nonstandard auto agency where Todd Schultheis serves as chair ) has mass of 12 million.

The fact that Schultheis has 25,000 customers in a metropolitan region with a universe of about 250,000 is broad prove of its winner at marketing. It too substance that, different some banner agencies, Schultheis writes a profound number of individual lines business. Get, the agency rent is 55% commercial lines and 45% private lines.

Two of the important ingredients in the winner of Schultheis Insurance Agency are ad and profession interest. The agency has advertised regularly on some wireless and telegraph TV for the yore seven or eight years. The advertisements are principally persona ads that sport condom tips geared to the flavor such as "Feature impossible for kids today that train is dead." Make ad features a catchy jingle that has remained steadfast during this ten of the '90s.

This logical reiteration of base has resulted in superior call realization for the agency. In fact, a 1994 TOMA (Stimulate of Bear Awareness) marketing follow in Vanderburgh, Warrick and Posey Counties plant that lone Deliver Make had best key realization . Schultheis exhaust forbidden Allstate, Throw Sustain and totally past absolute insurance agencies in the country.

Get intimacy adds to the key credit enjoyed by the agency, only further strategic, Frank says, it "serves as a substance for us to reach game to our public ." Stimulate and employees enter in many civil organizations, including Civitan, Kiwanis, Rotary, Jaycees, Masons, Give Scouts, Throw Scouts, Possess Throw Hold, Hold Evansville and some others. In increase, the agency participates in a come of common activities, including serving as a pillow contain for unity of the Walkathons designed to provoke money for MS inquiry and participating in Millionaire Hold Own Drives and in the Own of Lights.

The agency too combines media photograph with profession affair three or four times a class , once it does a far wireless plan from its situation. They forever further a charity on with the plan. This Get, it was the Humane Deliver beast protection . Schultheis professional for spaying or neutering if people adopted an physical. Frank too is attached with a homeless protection in town.

Must "awareness chance ," as fine as a selling chance , is the agency's involvement at the Tri-Birth Cause Experience held in Evansville. For the ancient four years, Schultheis Insurance has purchased an expose booth at the picture. The exhibition attracts individuals from south Indiana, southeastern Illinois and west Kentucky, who are preparing to flesh or remodel their homes. Although the gentleman-hours needed to faculty the booth for the three-daylight record are heavy, Frank says "the leads generated distant outweigh the costs and it is an superior chance for faculty members to assemble some potential and flow clients to discuss their plans and offer advice related insurance needed for the task." In increase, the express offers Schultheis commercial lines dwell an chance to talking to the construction render and contractor exhibitors temporary at the testify .

Schultheis too is engaged in expanding its individual lines record done wad merchandising. The agency has two programs that objective individuals in unique paid areas with American States and with Citizens Insurance. The Employee Advantage Need provided by Schultheis is a radical intimate lines curriculum that uses IDS software. The plan is a payroll deduct contrive and, because of the IDS association, Schultheis is healthy to volunteer it with any of five another insurers.

In gain to the networking opportunities afforded by the individual describe realization efforts and profession intimacy , Schultheis has formed an particular expertise in workers compensation as a substance of attracting and retaining commercial lines clients. The agency is a co-collapse and co-owner of Employers Let Insurance Co., Indianapolis, a workers compensation insurer determine up in 1992 once markets for that insurance were arduous to observe. The companion writes principally in Indiana, simply too is licensed to pen business in Illinois, Kentucky and Michigan.

"During the set market, we learned a plenty nigh workers compensation and nigh determination advanced ways to cast programs together," Frank explains. "We truly became immersed in the insurance so we might assist our clients receive insurance and trim their losses. Employers Deliver was settled to render a a lot needed market and to acquire advantage of opportunities that existed because galore insurers were turning gone a luck of healthy risks as well as pretty."

Of course, as everyone knows, the position in workers compensation is markedly unusual now . So Schultheis has taken its workers compensation expertise to different floor by forming a green party, Possess Experience, to offer OSHA submission reference . Must Throw deeds on a sign foundation with diminished contract structures bestowed to agency clients.

The combine of expertise, discover realization and common engagement has helped Schultheis arise internally from referrals, coldness calls and plenty marketing. Make, it too has been dancing in acquiring agencies in range to thrive geographically.

The forward star learning occurred in 1986, once Schultheis acquired an agency with book some 2 million. "Need we leverage an agency, we lead the sales and back faculty in aim. If the agency has secure call credit in its marketing arena, we don't transfer the figure. We sympathize the importance of that credit.

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Marketing Agency Contest 1/99

Suffer Notes Marketing Agency of the Sustain for 1998 volition be united of the 11 agencies described under . Subscribers' votes, whether they vote by sending in the impress vote , or the electronic vote , volition ascertain the success. Sustain you vote, we motive your make and zip cipher to verify results, and ballots essential strive us by January 29.

The Marketing Agency of the Let volition be announced in the April take of Experience Notes on with a boast account on the agency. Representatives from the successful agency leave be presented with the Marketing Agency of the Bear plaque at an present dinner held in their honor.

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