Marketwatch.com is reporting that InterBank of Maple Grove has agreed to be acquired by Genworth Financial of Richmond, Va., a financial-services provider.
InterBank is a closely held company, 43-years-old, that reportedly has nearly $1 billion in assets.
Genworth is much bigger. According to its website:
“Genworth Financial, Inc. (NYSE: GNW) is a leading public Fortune 500 global financial security company. Genworth has more than $100 billion in assets and employs approximately 7,000 people with a presence in more than 25 countries. Its products and services help meet the investment, protection, retirement and lifestyle needs of over 15 million customers. Genworth operates through three segments: Retirement and Protection, International and U.S. Mortgage Insurance. Its products and services are offered through financial intermediaries, advisors, independent distributors and sales specialists. Genworth Financial, which traces its roots back to 1871, became a public company in 2004 and is headquartered in Richmond, Virginia. For more information, visit genworth.com.”