August 14, 2022

Brycen Whitaker

Brycen Whitaker

State Farm Insurance

3907 Kell E Blvd, Wichita Falls, TX 76308

(940) 692-3821

State Farm is the largest property and casualty insurance provider, and the largest auto insurance provider, in the United States. State Farm is ranked 36th in the 2019 Fortune 500, which lists American companies by revenue.

State Farm relies on exclusive agents (also known as captive agents) to sell insurance. Only State Farm agents can sell State Farm insurance, and their agents can sell only State Farm products.

Financial services

State Farm has expanded into the financial services arena, such as banking and mutual funds.

The bank opened in May 1999 and is operated by State Farm Financial Services, FSB, a subsidiary of State Farm Mutual Automobile Insurance Co. These are separate from its insurance products. State Farm Bank does not have branch offices. Its regular banking services, which include checking and savings accounts, certificates of deposit, and money market accounts, are available to consumers countrywide via the Internet or over the phone, and through agents. Home mortgages are available countrywide over the phone or through agents.

In the 1950s, State Farm held a contest among the agents, to come up with ideas to expand the State Farm business. Robert H. Kent, a State Farm agent in Chicago, came up with the idea of providing auto loans to existing policyholders. Robert H. Kent was friends with a local bank president at LaSalle NW, and the two teamed up to pilot the auto finance program. State Farm liked the idea so much that it was rolled out to all the agents. Robert H. Kent received royalties on the program for 20 years. This event created the first marketing partnership between insurance companies and banks.


 

Street Address:

3907 Kell E Blvd Suite A

Wichita FallsTX 76308

Landmark:

Next to Waggoner Carpet One, just before you reach Sam’s Club traveling East on Kell E Blvd.

Office Hours (CST):

M-F 8:00am – 5:30pm
Sat 9:00am – Noon

Phone:

Languages:

English

Website: