Boise-based Futura Title and Escrow has closed a deal to buy Bend, Ore.-based AmeriTitle Inc. Futura is the parent company of Alliance Title and Escrow corporation.
According to a Futura news release, the combined companies will create the largest independent title and escrow group in the Pacific Northwest, with more than 600 title and escrow professionals and 73 offices operating in five states, including Idaho, Oregon, Washington, Montana and Wyoming.
Under the deal, the companies will maintain their separate brand identities.
Futura Title and Escrow CEO Larry Matney called the deal an ideal combination of two great regional companies.
"Our operations are very compatible and our customers and employees will benefit greatly from the geographical coverage, scale, and service capabilities of the new organization," said Matney.
AmeriTitle founder and President Linda Stelle will remain in her current position.
Alliance Title and Escrow Corp. became part of the Futura Corporation in 1995.