The Next Generation of Protection
/Malachi Smith learns the insurance ropes from his mother, veteran broker Teresa Smith
By Brandon Shoemaker
photo by shane darby.
In a cozy office in Texarkana, a unique insurance agency thrives—not just on policies and premiums but on trust, loyalty, and a deep-rooted sense of family. For Teresa Smith and her son, Malachi, partners at Higginbotham Insurance and Financial Services (formerly known as Barry Insurance Agency), running a business together has been more than a professional journey. It’s been a personal one, strengthening their bond while serving their community.
The agency began in 1961 when Dean Barry first opened its doors. Teresa joined the team in 1987, and over the years, she climbed the ranks, balancing sales with management. When Dean retired, Teresa and a partner seized the opportunity to buy the agency in 2004. Around a decade later, she became the sole owner.
“I rocked and rolled, pulled my hair out, and scrambled,” Teresa said with a chuckle, reflecting on those early years. But with hard work and faith, she grew the business, eventually partnering with Higginbotham in 2019. That move provided the agency with broader resources and opened the door for her son to join the team.
It wasn’t the path Malachi originally envisioned for himself. But, after 16 years as a welder at Red River Army Depot, the intense physical demands of the job began taking their toll. He recalled his mother hinting at the idea of joining the agency, but never pushing. When welding began to feel unsustainable, he saw an opportunity.
“He taught me to work hard, be honest, and earn what I wanted. I went to work for him when I was 12 loading bread trucks.”
“I just didn’t want to be a welder for the rest of my life. It’s hard on your body. I thought, ‘Let me try the insurance thing.’ Six years later, here I am. I’m stuck now,” Malachi joked. Despite his sense of humor, his dedication is clear. “I love meeting new people and getting involved,” he said.
For Teresa and Malachi, being local business owners is about more than running a profitable agency. It’s also about maintaining solid relationships with their clients and contributing to the community that’s supported them for decades. Teresa noted that she prides herself on “having a hometown feel [where clients] know they can drop by this office and talk to us or the wonderful ladies in this office,” she said. “We’re a team.”
The agency’s community service and contributions do not end with providing insurance. They sponsor local nonprofits like Hospice of Texarkana, Harvest Regional Food Bank, and Randy Sams’ Outreach Shelter, supporting causes whether the organizations are clients or not.
Working with family isn’t always easy, but Teresa and Malachi have found their rhythm. They maintain clear boundaries, leave personal disagreements at the door, and take a sort of church-and-state approach, separating work from family life as much as possible.
“We have an understanding,” Teresa explained, describing how even phone calls have a clear delineation. When Malachi calls Teresa for personal matters, he starts with, “Hey, Mom.” “If it’s work, it’s, ‘Hey, Boss,’” Teresa laughed.
The balance isn’t always perfect, but they both agree the time they’ve spent together—time they might not have had otherwise—has been invaluable.
“It’s great spending more time with her at this stage of my life, learning from her,” Malachi said.
Teresa nodded in agreement. “It’s the same for me,” she said. “Being able to spend time with my son, to teach him what I can, but also knowing when to let go of that and let him do it his own way.”
Now that Malachi has come on board, Teresa, who’s been in the insurance industry since she was 18, is eyeing retirement. She hopes to implement her exit strategy in the near future—though she admits she will stick around longer if needed.
“I love to fish. I love to camp. I love to go to my cabin on the river. I like to travel. I want to be able to do that while I’m still fairly young,” she said with a smile. “I’m ready . . . but I’m always just a phone call [away].”
Members of the Smith family at Thanksgiving dinner. submitted photo.
While looking toward the transition process, the agency is also focused on growth. Teresa and Malachi are searching for new team members, as well as new clients, to ensure the agency continues thriving. With Higginbotham’s extensive training resources and their close-knit team, they’re confident the business will keep expanding while staying true to their local, personal touch.
“We’re here to grow; it’s not going to get stagnant,” Malachi said. From the agency’s days as Barry Insurance, “it’s a staple,” he said. “We’re going to keep it that way.”
As Teresa spoke of her experience, one theme emerged repeatedly: faith. She credited God for guiding her through tough times, including the decision to partner with Higginbotham, a company she described as family-oriented and values-driven. All during her career, “God has always had my back,” she shared.
Teresa also credited her father for shaping her work ethic. “He taught me to work hard, be honest, and earn what I wanted. I went to work for him when I was 12 loading bread trucks.”
That same grit and determination now fuel Malachi.
For this mother-and-son team, success isn’t measured in numbers but in the relationships they’ve built with their clients, community, and each other. Their partnership has proven that business and family can mix, with the right balance of respect, patience, and love.
“I can’t think of any negative,” Teresa said. “It’s been fun.”