History of Stewart
Stewart Title Company began in Galveston, Texas, in 1893 when Maco Stewart, a young Galveston attorney and the son of eminent jurist and legislator William H. Stewart, purchased the Gulf City Abstract Company. Maco, along with his brothers Minor and Clegg and brother-in-law W.C. Morris, would all play major roles in the company’s development.
Today, CEO Matt Morris’ leadership marks the fifth generation of William H. Stewart’s descendants to head the company. Over the years we’ve witnessed a lot of things change in the real estate world. One thing that’s remained constant is our commitment to working with our customers, innovating and improving to meet their needs in an ever-changing market.
W.C. Morris, who played a vital role in developing Stewart Title operations, joins the Stewart Law and Land Title office, later marrying Maco’s sister, Wilamina (Willie).
The partnership of Maco and Clegg Stewart Law and Abstract Offices is formed.
Maco and Minor Stewart Title Guarantee Company forms, offering the first title insurance in Texas, in the form of an indemnity against loss due to title claims.
Maco Stewart states intention to have offices in Dallas, Fort Worth, Houston, San Antonio and Galveston in letter to William T. Sargeanty.
Charter for Stewart Title Guaranty Company filed with Secretary of State, Texas, providing for transacting business in all counties in Texas with principal office in Galveston, Texas.
Stewart Title Guaranty company purchases an abstract company in Dallas, its first acquisition outside Galveston.
Entered into a lease for Bexar County Abstract Co.; Homer Jones, acting vice president. This was the second branch operation of STGC.
Stewart Title Guaranty opens an office in Houston, and also begins writing title insurance in Houston through agent Stewart Abstract Company.
El Paso Title Company is acquired to issue abstracts and title insurance for STG.
El Paso Title Company becomes Stewart Abstract Company.
Stewart Title Guaranty strongly backs the regulations of Texas Title Insurance 1929, which places title insurers under the supervision of the Board of Insurance Commissioners.
The Homeowners Loan Corporation is created to aid citizens with mortgage defaults.
Maco Stewart passes away. His son Maco Stewart, Jr., and son-in-law W.C. Morris take over operation of the company.
Maco Stewart, Jr., and W.C. Morris both pass away.
W.C. Morris’ sons Carloss and Stewart are elected president of Stewart Title Guaranty Company and president of Stewart Title Company, respectively.
Stewart Title expands beyond Texas for the first time with an agency operation in Albuquerque, New Mexico.
Stewart establishes offices and agencies in Arizona, California, Florida and Louisiana. Combined with its locations in Texas, Colorado and New Mexico, the company now has 180 issuing offices.
Stewart establishes its first affiliation with a computerized title plant in Los Angeles.
Stewart helps form a computerized plant in Houston.
The holding company Stewart Information Services Corporation (SISCO) forms, setting the stage to expand Stewart’s operations into the broader arena of real estate information.
SISCO becomes a publicly traded stock on the NASDAQ exchange.
New corporate headquarters are constructed in Houston.
Brothers Carloss Morris and Stewart Morris, Sr., who had led the expansion of the company since their father’s death in 1950, acquire management control of the company.
Stewart invests in the development of computer services for the title industry, mapping operations and real estate information with an infusion of $2.4 million.
Stewart Title Guaranty Company is first included on the Russell 2000, 2500 and 3000 Indexes, and the Russell 2000, 2500 and 3000 Value Indexes, where it will remain until 1996 and re-enter in 1998.
Stewart policies are being issued through more than 1,000 issuing offices in 38 states.
Company revenues pass $100 million for the first time; SISCO stock splits 2:1, and the company raises $11 million in its second public offering.
Stewart is named one of the 101 best-performing companies in the U.S., with revenues of $178 million. Stewart affiliate Landata Geo Services wins contracts in the Caribbean, Egypt, Morocco and Guatemala for geographic information systems and aerial photography, beginning the enhancement of international public records systems.
With its expansion to Alaska and the incorporation of Stewart Title Insurance Company in New York, Stewart writes title insurance through more than 2,000 issuing offices.
Stewart issuing offices grow to 2,700 locations throughout the United States.
Stewart Information International forms to coordinate the company’s international endeavors.
Stewart Information Services Corporation is listed on the New York Stock Exchange under ticker symbol STC.
Stewart Information Services Corporation is the first stock quoted on the New York Exchange on the first day of trading.
Stewart is included in FORTUNE® magazine’s list of the 100 fastest-growing companies, and will make the list again in 1999 and 2004.
Carloss’ and Stewart, Sr.’s sons, Malcolm S. Morris and Stewart Morris, Jr., are elected co-CEOs of Stewart Information Services Corporation.
Stewart is included in the Forbes® Platinum 400 list of America’s best-performing big companies and returns to the list in 2002, 2003 and 2004.
Stewart is added to Standard & Poor’s SmallCap 600.
Stewart enters the FORTUNE 1000 at 941. The company later moves to 732 in 2003, 641 in 2004, 717 in 2005 and 703 in 2006.
Matthew W. (Matt) Morris, son of co-CEO Malcolm S. Morris and grandson of Carloss Morris, rejoins Stewart as senior vice president for planning and development.
Carloss Morris passes away at the age of 90.
Stewart achieves $1.4 billion in assets and $44.11 book value per share, the highest in the company’s history. The company is listed on FORTUNE magazine’s “America’s Most Admired Companies” at number four on the “Mortgage Services” industry list.
Matt Morris is promoted to overseeing the home office service centers, supporting field operations. The Stewart Transaction Solutions technology group merges with Stewart subsidiary PropertyInfo Corporation to increase focus on title production and transaction management technology efforts.
A major restructuring of senior leadership increases focus on core delivery channels and customer segments; the company consolidates accounting, IT, human resources and procurement functions across the organization. Stewart creates Stewart Global Solutions to pursue international land administration and modernization projects in emerging international markets.
Stewart Lender Services® responds to the market downturn by offering a range of solutions, including a full-service REO asset management division, a short sale management division, specialized services to help mortgage servicers with loan modifications and refinances, and more. Mark Winter, executive vice president of public policy, is elected president of the American Land Title Association® (ALTA®).
InformationWeek ranks Stewart #34 on its InformationWeek 500, a list of the country’s most innovative users of business technology. The company launches its first iPhone® apps for the SureClose® transaction management system, and introduces Lender Express Quote™, an online, RESPA-compliant rate calculator.
Matt Morris is appointed CEO of Stewart Information Services Corporation (SISCO), overseeing all company operations; Malcolm S. Morris and Stewart Morris, Jr., are named vice chairman. Lead Director Dr. Edward Douglas Hodo is elected SISCO’s chairman of the board.
Forbes recognizes Stewart as one of its Top 100 Most Trustworthy Companies in America, based on an independent audit of over 8,000 companies listed on U.S. stock exchanges.
Stewart celebrates 120 years of magnificent service, and is honored as a Texas Treasure in a ceremony at the state capitol. The company reports 2012 revenues of $1.91 billion, up 16.8% from 2011.
Stewart completes several significant acquisitions to expand services in the mortgage and title segment. The company continues to lead the industry in preparation efforts for the Consumer Financial Protection Bureau’s (CFPB) integrated mortgage disclosure rule. Forbes recognizes Stewart on its list of 50 Most Trustworthy Financial Companies in America. Stewart Morris, Sr., Advisor to the Stewart Information Services Corporation Board of Directors, celebrates 75 years with the company.
The company continues to enact strategic plans to expand margins and reduce operating costs. This is accomplished by bringing on new leadership in several business areas, entering into partnerships to enhance Stewart offerings, and outsourcing various support functions, as noted in earnings releases.
The CFPB's long-awaited TILA-RESPA Integrated Disclosure (TRID) rule goes into effect, as Stewart works with associates and customers to educate on this major government regulation change throughout the company and industry. Stewart launches refined branding to more clearly communicate the company's focus on building business relationships, and the Stewart and Stewart Title brand names, with the tagline "Real partners. Real possibilities."
CEO Matt Morris kicks off the year by ringing the Opening Bell® at the New York Stock Exchange. Additional leadership changes further mark the company-wide transformation; strategic goals focus on delivering improvements on how the company reports earnings for major business segments, shareholder value, and organizational effectiveness.
Stewart company Gracy Title changes its name to Stewart Title of Austin, LLC. Stockholders vote in favor of an amendment to the company's restated certificate of incorporation, which eliminates SISCO Class B common stock and its related provisions. Class B stockholders agree to an exchange plan for their shares.