Corporate report

Tampa Bay Federal Credit Union CEO to retire in July
After more than 22 years of leading Tampa Bay Federal Credit Union as president and CEO, Dale Schumacher, of Holmes Beach, announced he will retire July 3.

Schumacher, 66, joined Tampa Bay Federal Credit Union after 16 years in the credit union industry. During his tenure, Tampa Bay Federal nearly tripled its member deposits and expanded into Riverview.

“After more than 20 years in Tampa it is difficult to recognize the autumn of my life has arrived,” he says in a press release. “We have assembled a great team at both the director and staff level, and I regret that I will not be able to watch them, firsthand, continue to grow and develop the level of service our members will receive to meet their changing financial needs in the years ahead. I'm leaving Tampa Bay Federal a better place to do business and work than I found it.”

Chartered in 1935, as Tampa City Employees Federal Credit Union, the credit union now has more than 28,000 members and assets of more than $225 million.

Harbour Group's Onicon buys Greyline Instruments
Onicon Inc., a Largo-based Harbour Group company, acquired Greyline Instruments Inc. Terms of the transaction were not disclosed.

Greyline designs and manufactures ultrasonic flow meters and level sensors primarily for the water, wastewater, environmental, and industrial markets. Greyline was founded by Bill Robson and Ernie Higginson and is based in Long Sault, Ontario.

“Bill's technical expertise and Ernie's intense customer orientation coalesced to create a very exciting company that fits extremely well with our long-term vision for Onicon,” Jeff Fox, Harbour Group's chairman and CEO, says in a press release. “We're glad that they are staying onboard to help the combined companies accelerate their growth.”

Onicon has been in the flow measurement and hydronic (water-heat transfer) energy business since 1987. Harbour Group is a privately owned company based in St. Louis. Its companies are engaged in manufacturing and distribution in multiple industries.

TECO Energy extends contract to sell subsidiary to Cambrian Coal
TECO Energy Inc. (symbol: TE; recent price: $20.60) reached an agreement with Cambrian Coal Corp. to push back the sales deadline for TECO Coal. Cambrian Coal has until Feb. 20 instead of Dec. 31 to complete its purchase of the subsidiary.

“This agreement best positions us to execute our strategy to exit the coal business in as expeditious a manner as is reasonable, while still receiving fair value for TECO Coal,” TECO Energy CEO John Ramil says in a press release.

TECO Coal owns and operates coal-production facilities in Kentucky, Tennessee and Virginia.

WellCare Health promotes regional president to head several states, product development
Tampa-based WellCare Health Plans Inc. (symbol: WCG; recent price: $80.87) promoted Kelly Munson to senior vice president, division president and product. Munson will be responsible for Arkansas,
Kentucky, Louisiana, Mississippi, Tennessee and Texas. She will also lead the company's product development functions.

WellCare also promoted David Reynolds to senior vice president and division president. He is responsible for California, Connecticut, Hawaii, Illinois, Missouri, New Jersey, New York and Ohio.
Munson will continue to report to Ken Burdick, who was appointed CEO Jan. 1.

Munson was most recently region president for WellCare's operations in Arkansas, Kentucky, Mississippi and Tennessee. She joined WellCare in 2006, serving in a variety of positions for WellCare's Ohio health plan in the areas of operations and regulatory compliance. She was named chief operating officer of WellCare of Kentucky in August 2012, and one year later was named state president for Kentucky. Before joining WellCare, she worked for Old World Classics, HomeTown Health Network and Medical Mutual of Ohio.

Health Insurance Innovations introduces 10% share buyback
Tampa-based Health Insurance Innovations Inc. plans to buy back up to about 800,000 shares, equal to roughly 10% of the firm's 7.8 million total shares outstanding.

“Our board's approval of this share repurchase program demonstrates their confidence in [Health Insurance Innovations'] financial strength and future business prospects,” said Mike Kosloske, CEO of Health Insurance Innovations.

AlphaPoint Technology buys Minneapolis IT firm
AlphaPoint Technology Inc. has acquired N'compass Solutions Inc., a Minneapolis IT software solutions and cloud services company.

The Sarasota-based information technology company plans to integrate N'compass' data aggregator and analytical software platform LiveDC into its AssetCentral data center infrastructure management product. In addition, N'compass is expected to help broaden AlphaPoint's software products and services offerings.

“N'compass has more than 14 years of strategic IT expertise that they have tapped to create a very unique software platform with a core mission to improve the delivery of accurate data and analytics to help IT professionals gain visibility into their IT environment and improve decision-making,” Gary Macleod, CEO of AlphaPoint, says in a press release. “We see a lot of potential for not only broadening the capabilities of AssetCentral, but introducing complimentary products through a suite of solutions that will reach beyond the data center structure.”

N'compass will become a wholly owned subsidiary of AlphaPoint and will keep its base of operations in Minneapolis.