Alliance Bankshares Corp. in Chantilly, Va., has announced the closing of its purchase of the Danaher Insurance Agency of Annandale, Va.
Terms of the purchase by the Alliance Bankshares subsidiary, Alliance Bank Corp., were not disclosed Thursday. The deal was announced last month.
Thomas A. Young Jr., the president and CEO of $692 million-asset Alliance Bankshares, said when the deal was announced that the customer bases of the bank and the agency are "very complementary." Danaher Insurance has been in operation for 42 years, selling insurance and other financial services to small and middle-market businesses, professionals, and consumers.
Thomas P. Danaher, the agency's president, is to be president of Alliance Insurance Corp., responsible for all the bank's insurance activities.
Mr. Young also said the agency would give his company cross-selling opportunities between its wealth management offerings and Danaher's high-net-worth brokerage services.
