In Massachusetts, Salem Five Bancorp has acquired Fabri & Rourke Insurance Agency Inc.
Employees of the insurance agency will relocate to the bank's Georgetown, Mass., location at 2 E. Main St.
Fabri & Rourke Insurance will operate as a division of Salem Five Insurance Agency LLC and focus exclusively on commercial insurance.
Fabri & Rourke co-founder William Fabri will continue to lead the insurance agency. Co-founder Kevin Rourke had sold his share of the business to Fabri in 2005, and currently leads Salem Five's commercial banking division.
As of March 31, Salem Five Bancorp had approximately $4.72 billion in assets, according to S&P Global Market Intelligence data.
