TowneBank Insurance adds agencies in Hampton and Gloucester Southside

Published February 5, 2015 by Robert Powell, III

Hampton Roads-based TowneBank has added two independent Virginia insurance agencies, Lackey Saunders Co. Inc. and Gloucester Southside Insurance Agency, to its Towne Insurance subsidiary. 

The Hampton-based Lackey Saunders, founded in 1886, is led by Doug Favre, who also is president of  Gloucester Southside. TowneBank said Lackey Saunders has a large market share in Hampton

Gloucester Southside, founded in 1927, expands Towne’s footprint to the Middle Peninsula.

With these acquisitions, Towne Insurance now has more than 215 employees with 20 offices in Virginia and North Carolina.

Since 2001, Towne Insurance has completed 17 insurance agency acquisitions.

TowneBank operates  36 banking offices serving the Richmond area, Hampton Roads and northeastern North Carolina.