TowneBank purchases insurance company

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Portsmouth-based TowneBank has acquired the Taylor Johnson Insurance Group, expanding its reach into the insurance industry.

The Taylor Johnson Group will become affiliated with Towne Insurance Agency, a subsidiary of TowneBank. Virginia Beach-based Taylor Johnson Group was founded in 1922 and includes 36 employees.

Towne Insurance Agency was formed in 2001 when Kellam, Eaton and Huey and the Chesapeake Agency joined together to lead TowneBank into the insurance industry.  Since then, five other agencies have joined Towne Insurance.

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