Business

Sunflower Bank sells majority ownership in insurance agency

The management of Sunflower Insurance Group in Salina has purchased Sunflower Bank's majority ownership of the insurance agency, the bank said today.

"We believe this change will provide clarity and simplicity for our customers and for us," Mollie Carter, president and CEO of Sunflower Bank, said in a news release.

The $1.7 billion, Salina-based bank purchased the agency in 1999.

Financial terms of the transaction were not disclosed. The bank said the insurance agency's management had previously held a minority ownership interest in the business.

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