Call around, get more quotes.
A GM re-man transmission on GM parts direct is $2,900, so local prices at a dealer should be around that as well. A new Torque converter on the same website is $265. I am assuming you have the 6 speed auto here.
So with this ball park in prices you are at $3,100ish plus the labor and fluids. I don't have the R&R time for a transmission but that's likely several hours. Add tax and yadda yadda and it's up around $4,000 I'd say.
But $1,400 for just a torque converter and labor sounds high.