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TowneBank Continues Expansion Into Insurance

Taylor Johnson Group affiliates with Towne Insurance Agency

TowneBank and Taylor Johnson Insurance Group have announced the closing of a business combination where the Taylor Johnson Group will affiliate with Towne Insurance Agency, a wholly owned subsidiary of TowneBank.

 

The Towne Insurance Agency was formed in 2001. Five agencies have affiliated with Towne including TFA Benefits, the Brooks Agency, Johnson and West, Benefit Design Group and the Weber-Pyle Agency.

 

TowneBank operates 18 banking offices in Chesapeake, Hampton, Portsmouth, Newport News, Virginia Beach, Norfolk, Williamsburg and York County. It also offers financial services through its divisions and subsidiaries that include Towne Investment Group, Towne Insurance Agency, TFA Benefits, TowneBank Mortgage, TowneBank Commercial Mortgage, Prudential Towne Realty, Towne 1031 Exchange, Corolla Classic Vacations and Corolla Real Estate.

 

Morgan Davis, president and CEO of Towne Financial Services Group, said: The affiliation of Taylor Johnson will enable our insurance agency to expand the services available to our bank and insurance clients and position us as a full service provider of risk management services.”

 

Taylor Johnson, Jr., chairman and CEO of Taylor Johnson Group, said: We are excited to become part of the Towne family. TowneBank’s focus on friendships and relationships combined with outstanding support of the community fits perfectly with our legacy of exquisite personal service to our clients.