HOUSTON (Feb. 3, 2005) - Stewart Title Co. has acquired McKinley Title & Trust of Wasilla, Alaska. Existing management and staff will remain with the company.
"We are excited about being part of the Stewart organization," said Lynn Baker, president, McKinley Title & Trust. "We know that being part of this larger company will offer more resources for our customers. At the same time, it's been great to experience that while Stewart is a national company, it still retains a friendly, family feel towards its agents and its employees."
Baker, who together with Vice President Mary Moses is a co-manager of McKinley Title & Trust, has been in the title business for nearly 25 years. She has lived in the area since high school. Baker and Moses bought McKinley Title & Trust seven years ago, building it from five employees up to today's total of 24 employees.
Wasilla is approximately 45 miles north of Anchorage and over the past several years has been one of America's fastest-growing cities. Especially attractive for its affordable housing market, the town has become a bedroom community for Anchorage, and is also the center of commercial activity for the Matanuska-Susitna Borough. (A borough is similar to a county.) The Mat-Su Borough is 22,683 square miles in size - nearly as large as West Virginia.
"This acquisition is strategic to the growth of our market share in Alaska and fits well with the broad territorial coverage we have with our independent agents," said Bob Oakland, group president, Stewart Title Co.
McKinley Title & Trust's main office is located at 3035 E. Palmer-Wasilla Hwy., Suite 101, Wasilla, Alaska 99654, telephone number (907) 376-2220.
Stewart Title Co. is a wholly owned subsidiary of Stewart Information Services Corp., (NYSE-STC), a technology driven, strategically competitive, real estate information and transaction management company. Stewart provides title insurance and related information services through more than 7,800 issuing offices and agencies 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, document preparation, property reports and background checks. Stewart also supplies post-closing services to lenders, automated county clerk land records, property and land ownership mapping, and GIS for governmental entities. Stewart provides expertise in tax-deferred exchanges. More information about Stewart can be found at www.stewart.com.