A midsize New York state bank holding company is expanding its investment distribution relationship with Independent Financial Marketing Group Inc.[@@]
The bank holding company, Provident Bancorp Inc., Montebello, N.Y. has asked IFMG, Purchase, N.Y., to supply insurance and investment products and sales services to 9 branches acquired from another company in 2004.
Provident, which now has a total of 37 branches, has been working with IFMG and IFMG’s broker-dealer and insurance agency subsidiaries since 1998.
Provident has $2.5 billion in assets.
IFMG is a unit of Sun Life Financial Inc., Toronto.