Salem Five Insurance Acquires A. James Lynch Insurance Agency Inc.
Customers receive expanded offerings as Salem Five Insurance expands north of Boston
Woburn, MA., August 2, 2021 – Salem Five Insurance, a subsidiary of Salem Five Bank, announces today that it has acquired Lynn-based A. James Lynch Insurance Agency Inc, which was founded in 1952 and has steadily grown into one of the area’s most respected insurance agencies.
“The partnership will provide A. James Lynch customers with more choice while maintaining the same great service that they have always enjoyed,” explained Andrew Drayer, SVP of Strategic Growth for Salem Five Insurance. Salem Five Insurance has more than 60 employees in six locations, and partners with dozens of carriers to meet the specific personal and business needs of its customers.
“We have always put our customers and our employees first,” Agency President Maura P. Lynch noted. “We know Salem Five shares these values and will help make sure that our customers and employees are taken care of as they have always been.”
“We look forward to serving A.J. Lynch customers and continuing to provide them with the quality service that they have come to expect from their insurance agency,” said Gerard “Jay” Boyle, President of Salem Five Insurance.
About Salem Five Insurance and Salem Five Bancorp
Salem Five Insurance is a subsidiary of Salem Five Bancorp, which is also the holding company of Salem Five (www.salemfive.com), a mutual bank founded in 1855. Whatever the need and whatever the goal, Salem Five’s banking, investment and insurance professionals have the expertise to move customers forward. Salem Five has almost $6 billion in assets and 35 retail branches in Essex, Middlesex, Norfolk and Suffolk counties. Divisions include Salem Five Mortgage Company, one of the largest mortgage lenders headquartered in New England; Salem Five Investment Services which offers financial and retirement income planning, portfolio review and money management; Salem Five Wealth Management & Trust offering fiduciary wealth management services to institutions and high-net-worth individuals, and Salem Five Insurance Services, which provides personal and commercial insurance. Salem Five deposits are insured through the FDIC and DIF. Salem Five Mortgage Company’s NMLS # is 4662. Equal Housing Lender. Securities are offered through LPL Financial, member FINRA/SIPC. Life insurance products are offered through LPL Financial or its licensed affiliates. Insurance and investment products are not FDIC insured, not bank guaranteed, may lose value, not a deposit, and not insured by any federal government agency.
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