LINCOLN, Neb.--(EON: Enhanced Online News)--Ameritas Life Insurance Corp. (Ameritas) announced today the sale of Acacia Federal Savings Bank, a wholly owned subsidiary of Ameritas, to Stifel Bank & Trust, a wholly owned subsidiary of Stifel Financial Corp., was completed October 31 following the receipt of all regulatory approvals and completion of other conditions precedent to closing.
The successful completion of the transaction, announced in June, is reflective of the strategic intent of Ameritas to focus on the insurance and investment markets and exit the banking business. Acacia Federal Savings Bank is a $585 million asset bank with one office located in Falls Church, Virginia.
Ameritas – Ameritas Life Insurance Corp., Ameritas Life Insurance Corp. of New York, Acacia Life Insurance Company, The Union Central Life Insurance Company and affiliated companies – offers a wide range of insurance and financial products and services to individuals, families and businesses. These products and services include life insurance; annuities; individual disability income insurance; group dental, vision and hearing care insurance; retirement plans; investments; mutual funds; asset management and public finance. Securities and investment advisory services offered through affiliate Ameritas Investment Corp. Member FINRA/SIPC. For more information, visit ameritas.com.