TowneBank in Portsmouth, Va., has acquired three insurance agencies in the Richmond area.
The $6.1 billion-asset TowneBank acquired Invincia Insurance Solutions in Chesterfield, Total Insurance Planning in Midlothian and B.H. Baird Insurance in Warsaw, according to a Friday news release. Financial terms were not disclosed.
TowneBank will operate the insurance agencies under their existing names.
The new acquisitions are an effort to "bring insurance to the table" in the region, TowneBank's chief executive, Robert Aston, said in an interview. He added that "the bulk" of TowneBank's insurance operations had been centered around Virginia Beach, where Towne Insurance is headquartered.