Founded in 1853, Beneficial Savings Bank is one of the oldest banks in the U.S. and one of the largest banks based in Philadelphia with over $2.3 billion in assets and 36 branches. As part of a strategy to offer non-traditional services and to expand existing business relationships, Beneficial established Beneficial Insurance Services.

Continuing a long relationship, Curtis Securities was engaged to represent Beneficial in the acquisition of Paul Hertel & Co., Inc., a fourth generation insurance agency serving Mid-Atlantic area businesses and individuals.

Curtis Securities served as Beneficial’s financial advisor providing valuation advisory services to Beneficial’s Board of Directors, assisting in developing a transaction structure, and assisting in the negotiation of a purchase agreement and other transaction documents.