Bearing Insurance Group Acquisition | Financial Services Deal in VA

C&F Financial Corporation has completed the sale of its interest in Bearing Insurance Group, a insurance brokerage business in Virginia, for $8.3 million. Bearing Insurance Group LLC is an independent brokerage headquartered in Glen Allen that places property, liability, business auto, workers compensation, employee benefits, and personal lines coverage. C&F Financial’s financial services M&A divestiture reduces exposure to the insurance brokerage segment while generating a pre-tax gain expected in second-quarter 2026 results. The strategic acquisition divestiture is paired with an available-for-sale securities portfolio restructuring, including selling $72.6 million of AFS securities and buying $67.8 million at a higher weighted average yield to offset earnings impact.