VIST Insurance Announces The Acquisition Of Fisher Benefits Consulting

Wyomissing, PA - VIST Insurance LLC, a division of VIST Financial Corp. announced recently the acquisition of Fisher Benefits Consulting. Founded by David W. Fisher, owner, Fisher Benefits, a 25+ year- old Employee Benefit Firm, is located in Pottstown, PA.

VIST Financial, formerly Leesport Financial Corp., was the first Berks County-based bank to acquire an insurance agency in December, 1998. Since that time VIST Insurance, formerly Essick and Barr, LLC has acquired three additional insurance agencies and has grown its insurance revenue to $12 million, which places VIST near the top nationally among bank-owned insurance agencies. The acquisition of Fisher Benefits Consulting is expected to add $1 million in annual revenues to the insurance line of business and will expand our market presence between VIST Insurance located in Wyomissing, Berks County and the VIST Insurance office in Blue Bell, Montgomery County.

The transaction closed September 1, 2008 and will be immediately accretive to VIST Financial's earnings. No change in staff or operations at Fisher Benefits is expected. Within 6-months Fisher Benefits Consulting will carry the VIST Insurance brand name.

"During a time when the banking industry is struggling with a challenging operating environment, driving stable fee income is more important than ever," stated Robert Davis, President and Chief Executive Officer of VIST Financial. "By acquiring an additional insurance agency, that really sets us apart from the mainstream of community banks that are interest differential reliant," he added.

"Our clients will reap the benefits of being part of a larger organization that will be able to provide them with personal lines and property and casualty insurance, banking services and investment advisory services," stated David Fisher, owner Fisher Benefits Consulting. "It's a win-win for VIST Financial and for us," he added.

"VIST Insurance provides a full-suite of insurance services including property and casualty insurance, human resource consulting services, employee benefit planning and consulting and personal lines insurance," stated Michael Herr, Chief Operating Officer, VIST Insurance. "By expanding our reach into the Pottstown area through this acquisition, we will be able to provide one-on-one local expertise to the area businesses and individuals," he added.

SOURCE: VIST Financial Corp.