Alliance Bankshares Corp. in Chantilly, Va., said Monday that it had a definitive agreement to buy Battlefield Insurance Agency of Manassas, Va., in an all-cash transaction. The price was not disclosed.
Battlefield sells insurance and a full array of financial services to small and middle-market businesses, professionals, and consumers, it said. The agency has two offices in Prince William County and is to remain under the direction of Oswald Skewes, its founder.
Thomas P. Danaher, the president of Alliance Insurance Agency Inc., in a press release welcomed the deal as a "first step in our strategy of bringing profitable, well-run agencies into the Alliance fold." He became president of the banking company subsidiary last fall after the bank bought his Danaher Insurance Agency of Annandale, Va.
Mr. Skewes is to become a senior vice president of the insurance operation.
The deal's closing is planned for the fourth quarter and is expected to have minimal positive impact on Alliance Bankshares' results this year but is expected to contribute to earnings in 2007.
