Alliance Bankshares Announces Insurance Agency Acquisition.Fredericksburg Expansion Continues CHANTILLY, Va. -- Alliance Bankshares Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ABVA) announced the execution of a definitive agreement for its subsidiary, Alliance Insurance Agency, Inc., to acquire certain assets and liabilities of the Thomas (language) Thomas - A language compatible with the language Dylan(TM). Thomas is NOT Dylan(TM). The first public release of a translator to Scheme by Matt Birkholz, Jim Miller, and Ron Weiss, written at Digital Equipment Corporation's Cambridge Research Laboratory runs Agency, Inc., trading as Fredericksburg Insurance Group in a stock and cash transaction. Fredericksburg Insurance Group operates as a full service insurance agency serving the needs of businesses and families in Fredericksburg and its surrounding sur·round tr.v. sur·round·ed, sur·round·ing, sur·rounds 1. To extend on all sides of simultaneously; encircle. 2. To enclose or confine on all sides so as to bar escape or outside communication. n. counties. Jesse R. (Randy) Thomas, Jr., the President of Fredericksburg Insurance Group, will join Alliance as a Senior Vice President of the insurance subsidiary. "Randy brings a wealth of talent and experience to our insurance agency," said Thomas P. Danaher, President of Alliance Insurance Agency. "Randy's knowledge of the Fredericksburg market makes him the ideal person to head our operations in the region." "The future of our industry requires that we be able to offer our clients the full range of products and services that only an organization like Alliance can deliver. Going forward, our expanded portfolio positions us to take Fredericksburg Insurance Group to the next level," said Randy Thomas Men known as Randy Thomas
"Fredericksburg is a growth market for our company and one where insurance is a key component. Randy brings the kind of expertise we look for in all our divisions and will be a key player in our insurance agency," stated Thomas A. Young, Jr., President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Alliance Bankshares. The transaction is expected to close in the second quarter of 2007. The acquisition and the operating results of Fredericksburg Insurance are expected to contribute to earnings immediately . Alliance Bankshares Corporation is a locally managed community banking organization based in Northern Virginia Northern Virginia (NoVA) consists of Arlington, Fairfax, Loudoun, and Prince William counties and the independent cities of Alexandria, Falls Church, Fairfax, Manassas, and Manassas Park. . The independent status of the organization allows the Bank's management to create, implement and maintain banking services with a level of flexibility, creativity and discretion that is not possible with larger institutions. Some of the matters discussed herein may include forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . These forward-looking statements may include statements regarding profitability and financial and other goals. These statements are based on certain assumptions and analyses by the Company and other factors it believes are appropriate in the circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or . However, the Company's expectations are subject to a number of risks and uncertainties and other factors that could cause actual results, events and developments to differ materially from those contemplated by any forward-looking statements herein. Consequently, all forwarding-looking statements made herein are qualified by these cautionary statements and cautionary language in the Company's most recent report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and other documents filed with the Securities and Exchange Commission. More information on Alliance Bankshares Corporation can be found online at www.alliancebankva.com, or by phoning an Alliance office. |
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