Seven-month-old Gateway Bank and Trust of Elizabeth City, N.C.,
The bank, which has $32 million of assets, has a deal to buy Dowd &
Terms of the deal, which is expected to close by early next year, were
Buying an insurance agency is part of Gateway's plan to offer a broad
The bank was lucky to find an agency that fit with its commercial focus
"We live in the shadow of BB&T and Centura. But we happened to find one
The agency, which sold $650,000 in premiums last year, has a commercial
Gateway plans to follow BB&T's insurance model, which allows "the
The agency would keep its 20 employees and four offices but probably be