July 31, 2002
PRESS RELEASE
H.B. WILKINSON TITLE COMPANY ACQUIRES STEPHENSON COUNTY ABSTRACT & TITLE COMPANY
For More Information, contact:
Daniel D. Mennenoh, President, H.B. Wilkinson Title Company
Phone: 815-777-3318
Dianne A. Bass, President, Stephenson County Abstract & Title Company, a division of H.B. Wilkinson Title Company
Phone 815-232-2511
H.B. Wilkinson Title Company (HBW), a Galena based title insurance firm, has announced that it has acquired Stephenson County Abstract & Title Company (SCATC), the oldest abstract and title company in Stephenson County. In a joint announcement made by Dianne A. Bass, president of SCATC and Daniel D. Mennenoh, president of H.B. Wilkinson Title Company, the executives stated that all the outstanding shares of SCATC have been acquired by HBW. Stephenson County Abstract & Title Company will operate separately as a division of H.B. Wilkinson Title and will continue to be headquartered at 216 West Exchange Street in Freeport in a building that has housed the company since 1948 and purchased in a separate transaction by HBW.
Dianne A. Bass who has served as president of the company since 1986 will continue in her role as president of the new division of HBW, Marsha K. Kerkhoff will remain as Vice President of the company and manage the day-to-day operations of SCATC.
"This new relationship with a well respected company will provide expanded levels of service and geographical coverage for our customers," stated Dianne A. Bass, SCATC president. "H.B. Wilkinson Title is a strong regional company and a leader in the market. They are well positioned to fulfill the quality, value and service demands of our customers and will assist us in positioning our office for future growth."
Stephenson County Abstract & Title Company has been at the heart of land title records in the county since it was founded over a century ago. The company provides abstracts of title, title insurance and escrow services on residential, commercial, industrial and new construction projects throughout Stephenson County. In 1986, it was recognized as a Centennial Business by the State of Illinois. It has property records dating back to the 1840's and has been operating as a corporation since 1919.
H.B. Wilkinson Title Company, a Galena based title insurance firm, was founded in Morrison, Illinois in 1883 and incorporated in its present form in 1957. It provides an innovative range of title insurance, escrow an real estate information services including commercial and construction escrow services throughout northwest Illinois and eastern Iowa. The company currently operates from a network of six offices located in Galena, Mt. Carroll, Morrison, Sterling, Dixon and Oregon. It handles transactions in primarily eight counties in Illinois and will soon be conducting business in Wisconsin.
"H.B. Wilkinson Title takes a customer and market driven approach to the title business by developing innovative solutions to customers' problems," stated Daniel D. Mennenoh, president of HBW. "We are committed to the traditions of Stephenson County Abstract and Title Company and we look forward to building upon the cherished relationships that have been cultivated over the years."
The two title firms will benefit from the transaction by being able to offer to customers "one-stop shopping" capabilities for all real estate transactions including commercial, industrial, agricultural and new construction projects across northern Illinois, eastern Iowa and southern Wisconsin. By virtue of an expanded menu of products and services, the company can facilitate virtually any transaction and tailor services to specific customer needs. As a result, the company will help customers preserve resources that can be devoted to more important activities.
Both firms will continue their relationships with five national title insurance underwriters including Chicago Title Insurance Company, First American Title Insurance Company, Stewart Title Guaranty Company, Lawyers Title Insurance Corporation and Security Union Title Insurance Company.
Other related articles:
SCATC/HBW Fact Sheet
Letter to Customer
