With Connecticut Governor John Rowland leading the ribbon-cutting ceremony on May 17, the doors opened to InsurBanc, the Independent Insurance Agents of Americas program to provide banking services to customers through the independent agency system.
The full-service savings institution is headquartered in Farmington, Conn.
Aside from the office headquarters, InsurBanc will be an e-commerce bank, with services available by telephone or fax as well as online.
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In its first day of operation, the bank received some deposits and loan applications, says InsurBanc’s CEO, Michael W. Herlihy.