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TowneBank acquires The Clement Companies

IBR Staff Writer Published 04 February 2013

TowneBank has completed the acquisition of Greenville-based insurance agency The Clement Companies, in a bid to expand into North Carolina.

Following this acquisition, The Clement Companies will affiliate with the acquirer's wholly-owned subsidiary Towne Insurance Agency.

The Clement Companies provides insurance products and services to its clients including commercial property and casualty, personal lines, contract and surety bonding, group and individual health and employee benefits, and various life products.

Towne Insurance president and CEO F. Dudley Fulton said, "The addition of these talented professionals will allow us to broaden our platform of services available to our bank and insurance clients while continuing our focus on providing exquisite service."

Towne offer a full range of financial services through its subsidiaries including Towne Investment Group, Towne Insurance Agency, TFA Benefits, TowneBank Mortgage, TowneBank Commercial Mortgage, Prudential Towne Realty, Towne 1031 Exchange, and Corolla Classic Vacations.