Home Savings makes step to form insurance group

Staff report

YOUNGSTOWN

United Community Financial Corp., holding company of The Home Savings and Loan Co., announced Monday it signed a definitive agreement to acquire James & Sons Insurance.

This transaction marks the initial step in the formation of The Home Savings Insurance Group.

Home Savings looks forward to expansion of the insurance business via organic growth coupled with a selective acquisition strategy, according to a UCFC news release.

The agency will continue to operate as James & Sons Insurance and will remain at its current location, 4444 Market St., Boardman.

The transaction is expected to close in the first quarter this year.

“We are very pleased to be partnering with the James & Sons organization,” said Gary Small, president and CEO of Home Savings and UCFC, in a statement. “They are a well-established and highly regarded agency with a rich history in the Mahoning Valley.”

James & Sons Insurance is a local, family-owned insurance agency established in 1921. The agency works with regional and national insurance companies offering coverage at the most- competitive rates available.

Tom Costello, who has been with James & Sons for 35 years, will continue as company president.