Towne Insurance, a wholly-owned subsidiary of TowneBank (TOWN) announced the promotion of James E. Clement, Jr. to Central North Carolina President, effective immediately. He will be responsible for driving the overall growth and performance of Towne Insurance’s offices located in Raleigh, Greenville, Kinston, Graham and Charlotte. A Greenville resident, Clement joined Towne Insurance in 2012 following Towne Insurance’s acquisition of The Clement Companies.
"Jim is a motivated and talented leader who cares deeply about our clients, his team and the success of our business, said Dudley Fulton, Chief Executive Officer. “He has played a key leadership role since the day he joined Towne Insurance and was the natural fit to lead the growth initiative in North Carolina. This promotion is evidence that the strength of our company lies with the level of talent we employ, and being able to draw from a strong bench of executives when larger leadership opportunities like this one arise.”
Clement is a graduate of the University of North Carolina and holds a CIC (Certified Insurance Counselor) and AAI (Accredited Adviser in Insurance) industry designations. He is the current chairman of the Boys and Girls Club of Coastal Plains Foundation and a member of St Paul’s Episcopal Church.
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Towne Insurance, a wholly owned subsidiary of TowneBank, is a premier independent insurance agency providing comprehensive solutions and risk management programs to businesses of all sizes, including property and casualty insurance, workers’ compensation, bonding, employee benefits and more. Additionally, personal lines agents specialize in home, auto, umbrella and flood insurance. Headquartered in Hampton Roads in southeastern Virginia, and serving communities from Northern Virginia, to Wilmington, North Carolina; Towne’s 330 experienced professionals work with the nation’s top-rated providers to find members the right coverage at a competitive price.
As one of the top community banks in Virginia and North Carolina, TowneBank operates 40 banking offices serving Chesapeake, Chesterfield County, Glen Allen, Hampton, James City County, Mechanicsville, Newport News, Norfolk, Portsmouth, Richmond, Suffolk, Virginia Beach, Williamsburg, and York County in Virginia, along with Raleigh, Cary, Charlotte, Moyock, Grandy, Camden County, Southern Shores, Corolla and Nags Head in North Carolina. Towne also offers a full range of financial services through its controlled divisions and subsidiaries that include Towne Investment Group, Towne Wealth Management, Towne Insurance Agency, Towne Benefits, TowneBank Mortgage, TowneBank Commercial Mortgage, Berkshire Hathaway HomeServices Towne Realty, Towne 1031 Exchange, LLC, and Towne Vacations. Local decision-making is a hallmark of its hometown banking strategy that is delivered through the leadership of each group’s President and Board of Directors.
With total assets of $8.52 billion as of December 31, 2017, TowneBank is one of the largest banks headquartered in Virginia. Based on financial data as of September 30, 2017 and reflecting the recently completed merger with Paragon Commercial Corporation, TowneBank would have total assets of $10.5 billion, gross loans of $7.3 billion and total deposits of $7.8 billion.
