HOUSTON (July 31, 2003) - Stewart Title Co., a wholly owned subsidiary of Stewart Information Services Corp. (NYSE-STC), has purchased an interest in Yankton Title Co., located in Yankton, S.D. Key management and staff will remain with the office.
"This purchase is notable because it is our entry into ownership in the South Dakota market," said Rand Zimmerman, group president, Stewart Title Co. "It is also a strategic move, as Yankton is located just 60 miles southwest of Sioux Falls and in the direction of major population growth, according to the U.S. Census Bureau."
"Yankton Title has been in existence for 75 years," said Wayne Roe, district manager, Stewart Title Guaranty Co., the office's title insurance underwriter. "They have been an agent for us for a number of years - it's a good fit, and a great base from which to grow our market share in this area."
"Stewart Title has an excellent reputation for integrity, financial strength and innovative technology," said Nancy Frazier, president and manager, Yankton Title. "We are especially pleased that our office will be installing AIM® for Windows®, a title production system from Landata, a Stewart company. This technology will help us improve our service to the homebuyers, sellers, lenders and attorneys in Yankton."
Yankton Title's office is located at 219 West Third Street, Yankton, S.D., 57078, (605) 665-5775.
Stewart Information Services Corp. is a technology driven, strategically competitive, global real estate information company. Stewart provides title insurance and related information services through more than 6,800 issuing locations in the United States and several international markets. Stewart meets the needs of the real estate and mortgage industries through the delivery of information services required for settlement using e-commerce. These services include title reports, flood determinations, property appraisals, surveys, document preparation, property reports, background checks and online property auctions. Stewart also supplies post-closing services to lenders, automated county clerk land records and GIS for governmental entities. Stewart provides expertise in tax-deferred exchanges. More information about Stewart can be found at www.stewart.com.