[RoseyRed]

Originally Posted by Goldwingnut

Spoke with "villages insurance" yesterday morning and commented on this very topic, the insurance company was sold about 15 years ago and because of the successful identity associated with Villages Insurance locally they kept the name until recently. Behind the scenes it had been changed over long ago, they just decided to change the signs and letterheads recently and complete the transition.

thanks for the facts once again

[goneil2024]

Mergers and consolidation in the financial services sector is a constant. Given the continuous insurance rate increases over the past 26 quarters the valuations for agencies has been at an all time high.

In addition, both banking and insurance are among the most regulated business in this country so the insurance commissioner and regulations should mitigate any disruption. Branding takes time and as noted, often phased in over years to minimize disruption and loss of market due to name recognition. Most insurance buyers have difficulty distinguishing between the sales force (agent/broker) and the actual insurer, never mind the technical coverage, pricing and other elements that matter. Most of us just want covered claims paid when presented, or defended and indemnified if needed.

Our local bank in CT was bought and sold five times in the past 25-years, with little to no disruption and essentially seamless to customers other than a new logo and usually updated systems. I can’t remember when I actually had to step into a bank branch as everything is online, to include deposits, ACH/ETF, etc. The same thing recently occurred with a 3rd generation private insurance agency. The family wanted to monetize their generational investment and they were acquired by a large national firm. Better systems, more leverage with insurers, professional management, etc. It’s a process the clock turns, and the cycle resets.

Change is constant so I focus on learning how to adapt, enjoying the improvements and save time. I long ago gave up carbon paper, telex's, fax’s, paper receipts, hardwired telephones, and now embrace touch-less financial transactions. Rather we increasingly have direct contact with insurance, and investment firms via ZOOM, Teams and other platforms which is the new normal since COVID.

In addition, artificial intelligence (AI) tools continue to transform most financial sectors to include insurance, investing and banking. I suggest we all consider becoming conversant with ChatGBT, CoPilot and other more specialized tools to help inform and make decisions.

[Mrfriendly]

Originally Posted by CoachKandSportsguy

Same here in the 1990s, I would not be worried about the routing checking account numbers, etc. for quite a while. We centralized back office functions, but migrating banking accounting software should not happen for several years, and is a separate back office system. my checking account is with Bank of America, and i have had it since the 1980s 3-4 maybe 5 banks ago.


good luck to us!

Same here. My first bank in the 70s when I got my first job has merged 5 times and now I’m a Chase Bank customer. I never changed my account. Not particularly impressed with Chase but glad there is one or more in TV.

[Ptmcbriz]

For those not buying with cash…When buying a NEW home The Villages requires your mortgage company to close within the 30 day guideline. Otherwise you could lose the house and get fees applied. Wonder if the new bank will be able meet that expectation. Citizens guaranteed it would close within 30 days.

[OrangeBlossomBaby]

Originally Posted by ElDiabloJoe

The Appalachian example is not persuasive. St. Dolly Parton was born "at home" in a small rural town (Pittman Center, who had a 2020 census population under 500 - even fewer when Dolly was born in 1946). She travels extensively internationally, so getting a passport and other "proof of birth / proof of life" government documents is clearly possible.

Am I not clear in my words? Are people having difficulty understanding me because I'm writing poorly? I'll try again:

NEW LAWS.

There are NEW LAWS that didn't exist as of a year ago.

These laws are new. They're recent. They're not from 1946, they're not from 1961, they're not from 2000, they're not from 2023. They're new.

If you've never changed your name, then my concern about these laws doesn't apply to you.

[OrangeBlossomBaby]

Originally Posted by MandoMan

Family owned bank. 53% market share in the community. The bank most likely to be used when buying a house here. Large, local, and you can talk to real people.

The three Morse siblings are in their mid to late sixties, right? It wasn’t easy to find a really talented family member to run the bank. Why not accept an offer of $711 MILLION? They’ve put their lives into this place. Time to cash out, a bit at a time. Thinking of retiring. They’ve earned it. I’m grateful for their hard work.

Interesting to see who is responding to this thread with a "hey they have the right to cash out" or "it's not surprising." Not just you, but everyone who seems to have this perception or attitude toward the news.

It's interesting, because the concern had come up in previous threads, about what would The Villages do if the Morse family decided they no longer wanted to run the place.

The response was incredibly aggressive toward people who questioned it, saying it wouldn't ever happen, the family is making millions so they'd never cash out, they're successful and love what they do and would never sell...

And here they are, selling off bits and pieces.

I guess those of us who actually thought to ask about it, were right to ask, and the ones who insisted it wouldn't happen, were - sucked in by the kool-aid and now the sugar high is starting to wear off.

[ElDiabloJoe]

Originally Posted by OrangeBlossomBaby

Am I not clear in my words? Are people having difficulty understanding me because I'm writing poorly? I'll try again:

NEW LAWS.

There are NEW LAWS that didn't exist as of a year ago.

These laws are new. They're recent. They're not from 1946, they're not from 1961, they're not from 2000, they're not from 2023. They're new.

If you've never changed your name, then my concern about these laws doesn't apply to you.

Ya know, just go online to the county website in which you were wedded, and follow the FAQ that responds to the inquiry: "How do I get a copy of my marriage license?" There's no MBA required here, no degree in the science of rocketry, no Mensa membership either.

If it had been done long ago, this "emergency" because of NEW LAWS would not be an "emergency" which causes one such panic.

By the way, the law isn't really NEW. It was passed twenty years ago in 2005. Its many postponements have been publicized over the years as states invested in the technological infrastructure to make it happen. It's been a complete foreseeable eventuality for two decades, thus NOT an "emergency."

[ElDiabloJoe]

Originally Posted by OrangeBlossomBaby

Interesting to see who is responding to this thread with a "hey they have the right to cash out" or "it's not surprising." Not just you, but everyone who seems to have this perception or attitude toward the news.

It's interesting, because the concern had come up in previous threads, about what would The Villages do if the Morse family decided they no longer wanted to run the place.

The response was incredibly aggressive toward people who questioned it, saying it wouldn't ever happen, the family is making millions so they'd never cash out, they're successful and love what they do and would never sell...

And here they are, selling off bits and pieces.

I guess those of us who actually thought to ask about it, were right to ask, and the ones who insisted it wouldn't happen, were - sucked in by the kool-aid and now the sugar high is starting to wear off.

Some profit-taking before handing the reins to the next generation is normal and to be expected. Also to be expected is a business to divest itself of assets that were once part of their core focus. When momentum gain or growth is such that said assets distract from the core mission and vision, a smart business that wishes to endure sheds such assets as they lose their value (to the mission, no monetarily) and takes any equity gains from them.

[Rodneysblue]

Originally Posted by CoachKandSportsguy

Eastport costing a lot more than anticipated, and more cash is needed. . .

What article was this in, I missed it?

[Flyers999]

Originally Posted by dewilson58

No surprise...............The Villages is a land developer......They DEVELOP.

Land developers are not interested in banking, newpapers, radio stations, water treatment facilities, local government, etc., etc., etc.

Developing land is one thing; but hoodwinking and abusing elders is another thing altogether.

[dougawhite]

Originally Posted by ElDiabloJoe

The Appalachian example is not persuasive. St. Dolly Parton was born "at home" in a small rural town (Pittman Center, who had a 2020 census population under 500 - even fewer when Dolly was born in 1946). She travels extensively internationally, so getting a passport and other "proof of birth / proof of life" government documents is clearly possible.

Dolly has her own unique identifier(s)... Jut sayin'

[dewilson58]

Originally Posted by Flyers999

Developing land is one thing; but hoodwinking and abusing elders is another thing altogether.

Examples???

[Aces4]

///

[shut the front door]

Originally Posted by OrangeBlossomBaby

Interesting to see who is responding to this thread with a "hey they have the right to cash out" or "it's not surprising." Not just you, but everyone who seems to have this perception or attitude toward the news.

It's interesting, because the concern had come up in previous threads, about what would The Villages do if the Morse family decided they no longer wanted to run the place.

The response was incredibly aggressive toward people who questioned it, saying it wouldn't ever happen, the family is making millions so they'd never cash out, they're successful and love what they do and would never sell...

And here they are, selling off bits and pieces.

I guess those of us who actually thought to ask about it, were right to ask, and the ones who insisted it wouldn't happen, were - sucked in by the kool-aid and now the sugar high is starting to wear off.

If you read the replies before yours, it will clear up some of your misconceptions.

[DeLunatics]

Originally Posted by OrangeBlossomBaby

Am I not clear in my words? Are people having difficulty understanding me because I'm writing poorly? I'll try again:

NEW LAWS.

There are NEW LAWS that didn't exist as of a year ago.

These laws are new. They're recent. They're not from 1946, they're not from 1961, they're not from 2000, they're not from 2023. They're new.

If you've never changed your name, then my concern about these laws doesn't apply to you.

Real ID was passed twenty years ago. It has been phasing in. It was not a secret. People were given twenty years to get ready.

About REAL ID | Transportation Security Administration