| State Farm agent expands with move
PRINCETON — Growing her small town business and providing the best insurance and financial services around is a priority for State Farm agent Lorita Hellman.With a new location and an expanded team, she hopes to better meet her client’s goals and objectives."The main thing I want to do is to have people, without a doubt, understand how very, very much we want to help them with their insurance and financial services, and in the right way," Hellman said."We want them to feel like they enjoy being here so very much that they don’t want to have their insurance anywhere else. That’s the kind of service we want to provide; that’s the ultimate goal," she added.As of Oct. 1 the business relocated to 324 N. Main St., to a newly-renovated Victorian building, that is more than 100 years old.With the move, Hellman expanded her business team to include her son, Adam Hellman, who will serve as an agency contact representative, and will greet clients, process payments and keep client information up to date.Also on the team are Susan Bastion and Barbara Kunst, both multiple line representatives, who have a combined 25 years experience, in addition to Lorita who also has 21 years of agency experience.They are both fully licensed in all lines of insurance with Bastion specializing in bank and commercial insurance, while Kunst specializes in health and life insurance."They are both also experts in property and casualty insurance on their auto and fire insurance line," Hellman said.With the move, Hellman said she would like to increase her clientele at a more rapid pace, with an emphasis on auto growth."We paid dividends last year; we lowered our rate; we’re extremely competitive right now," Hellman said.Hellman said she had her eye on the building, which had sat vacant for several years, and was ready to take the next step."I’ve always found this place to be extremely charming.
UCBH Gets Approvals for China Bank Deal
UCBH Holdings Inc., the holding company for United Commercial Bank, said Monday it received regulatory approval for its planned $205 million cash purchase of Shanghai-based Business Development Bank Ltd., clearing the way for the deal to close in December. The move will expand the California banking chain's reach into mainland China. The purchase was first announced in May. United Commercial offers financial products and services to small- and medium-sized companies. The bank has branches in California, New York, New England, Atlanta, Houston, the Pacific Northwest and Hong Kong. .
Hot stuff
What do a lawyer, CPA and international banker have in common? Apparently, the financial know-how and business acumen to operate a private-equity firm that wants to acquire and operate small, successful manufacturing companies. This is how Ray Lund, the banker, became president and CEO of Thermex-Thermatron Products Inc., a Louisville company that engineers, manufactures, sells and services industrial radio-frequency and microwave heating equipment. CPA Jack Hans and attorney David Lesser founded the private-equity firm Dyad Partners in the mid-1990s and asked Lund to join as a principal in 2004. All three previously worked for Riggs Bank in the Washington, D.C., area. Hans now lives in Roanoke, Va., Lesser in Bethesda, Md. The firm seeks to buy companies with solid management teams and owners who are retiring, Lund said.
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