Farmer’s Bank takes raises Manry Rawls stake

Published 10:03 pm Thursday, June 15, 2017

Farmers Bank has acquired a majority interest in Manry Rawls LLC, a longtime Western Tidewater property and casualty insurance agency.

Since April 2014, Farmers Bank has owned a one-third minority interest in Manry Rawls. With the most recent transaction, Farmers Bank increases its ownership to two-thirds of the agency, which will continue to operate independently under the name Manry Rawls LLC.

Both Farmers Bank and Manry Rawls have been fixtures in the local marketplace for many decades. The partnership is representative of both organizations’ deep continued interest in remaining focused on local customers and meeting their needs, regardless of size, officials stated in a press release announcing the acquisition.

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“We’ve been extremely pleased with the return on our original investment in Manry Rawls, and are excited to increase our ownership,” stated Richard J. Holland Jr., chief executive officer of Farmers Bank.

Manry Rawls LLC operates three offices, one each in Franklin, Courtland and Smithfield. Additionally, the agency operates two other agencies, Shirley T. Holland Insurance and the Lifsey Insurance Agency in Windsor and Emporia, respectively.