Alliance Bankshares Corp. announced the execution of a definitive agreement for its subsidiary, Alliance Bank Corporation, to acquire the Danaher Insurance Agency of Annandale, Virginia in an all cash transaction.
Danaher Insurance has been in operation for 42 years and provides insurance and a full array of financial services to a broad range of small and middle market businesses, professionals and consumers.
The transaction is expected to close during the 4th quarter 2005. Danaher Insurance will become a subsidiary of Alliance Bank and will transition to Alliance Insurance Corporation and carry all its present lines and markets. Thomas Danaher, current president of the agency, will become president of Alliance Insurance Corp. and will be responsible for all insurance activities for Alliance Insurance Corp. and Alliance Bank.
The agency will continue to operate from its current office in Annandale.
Topics Mergers & Acquisitions Virginia
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