Alliance Bankshares Corp., based in Chantilly, Va., said its subsidiary, Alliance Insurance Agency, Inc., has acquired certain assets and liabilities of the Thomas Agency, Inc., trading as Fredericksburg Insurance Group in a stock and cash transaction.
Fredericksburg Insurance Group operates as a full service insurance agency serving the needs of businesses and families in Fredericksburg and its surrounding counties.
Jesse R. (Randy) Thomas, Jr., president of Fredericksburg Insurance Group, will join Alliance as a senior vice president of the insurance subsidiary.
The transaction is expected to close in the second quarter of 2007. The acquisition and the operating results of Fredericksburg Insurance are expected to contribute to earnings immediately.
Alliance Bankshares Corp. is a community banking organization.
Source: Alliance Bankshares Corp.
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
Trump to Issue Order Creating National AI Rule 
Acrisure to Buy MGA Vave From Canopius 
Owner of Historic Minnesota Resort Charged With Arson, Insurance Fraud 
Baldwin Group to Buy CAC Group for About $1B in Cash and Stock 
