Northwest Title, a family-owned and operated title agency in Columbus, Ohio announced its merger with Arrow Title Agency, an agency serving clients in six states from its headquarters in Columbus.
Northwest Title President Scott Stevenson noted that the company’s long history in the residential real estate market in Columbus combined with Arrow’s wider array of services and geographic footprint makes the two firms a perfect match.
“These two companies complement each other wonderfully,” Stevenson said. “Northwest has nine offices in the Columbus area, while Arrow has offices in other cities around the state as well as in Kentucky. The new company will be licensed to operate in six different states: Ohio, Kentucky, West Virginia, Michigan, Indiana and Florida. And Arrow brings experience in the commercial title insurance market to the team to go with our residential expertise.”
All existing local offices of Northwest Title and Arrow Title will maintain their name while operating under the Northwest Title corporate umbrella. The firm will also include a separate law practice with five attorneys. The company will have more than 80 employees and 16 closing locations. There are no plans to make any reductions in staffing.
“Northwest Title and Arrow Title are two companies with similar visions and philosophies about our industry and about how our corporate culture should be,” said Jonathan Holfinger, president of Arrow Title. “When you combine that with the fact that our footprints are complementary to each other, these two firms really do fit together perfectly.”
Stevenson said he believes larger regional firms like the combination of Northwest Title and Arrow Title will be the norm in coming years based on regulatory changes in the title industry.
“New regulations coming from the Consumer Financial Protection Bureau will require larger investments in computer networks and data security. A larger firm will have the resources to keep up with the required improvements. We are very excited for the future based on this new partnership