reports
TowneBank and Village Bank and Trust Financial Corp. Announce Agreemen...
TowneBank and Village Bank and Trust Financial Corp. Announce Agreement to Merge SUFFOLK, Va. and MIDLOTHIAN, Va., Sept. 24, 2024 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ: TOWN) and Village Bank and Trust Financial Corp. (NASDAQCM: VBFC) (“Village”), the parent company of Village Bank, today announced the signing of a definitive agreement and plan of reorganization pursuant to which TowneBank will acquire Village and Village Bank. The proposed transaction will enhance TowneBank’s continued and growing presence in the Richmond MSA while providing opportunity for diverse re...
TowneBank Announces Quarterly Cash Dividend
TowneBank Announces Quarterly Cash Dividend SUFFOLK, Va., Aug. 28, 2024 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ: TOWN) announced today that its Board of Directors declared its third-quarter shareholder cash dividend of $0.25 per common share payable on October 11, 2024, to shareholders of record on September 30, 2024. The amount and declaration of future cash dividends are subject to Board of Directors’ approval in addition to regulatory restrictions. About TowneBank:Founded in 1999, TowneBank is a company built on relationships, offering a full range of banking and ot...
TowneBank Reports Second Quarter 2024 Earnings
TowneBank Reports Second Quarter 2024 Earnings SUFFOLK, Va., July 24, 2024 (GLOBE NEWSWIRE) -- TowneBank (the "Company" or "Towne") (NASDAQ: TOWN) today reported earnings for the quarter ended June 30, 2024 of $42.86 million, or $0.57 per diluted share, compared to $41.72 million, or $0.56 per diluted share, for the quarter ended June 30, 2023. Excluding certain items affecting comparability, core earnings (non-GAAP) were $42.56 million, or $0.57 per diluted share, in the current quarter, an increase of 10.10% compared to $38.66 million, or $0.52 per diluted share, for the quarter ended J...
TowneBank Announces Quarterly Cash Dividend
TowneBank Announces Quarterly Cash Dividend SUFFOLK, Va., May 29, 2024 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ: TOWN) announced today that its Board of Directors declared its second-quarter shareholder cash dividend of $0.25 per common share payable on July 12, 2024, to shareholders of record on June 28, 2024. The amount and declaration of future cash dividends are subject to Board of Directors’ approval in addition to regulatory restrictions. About TowneBank:Founded in 1999, TowneBank is a company built on relationships, offering a full range of banking and other fina...
TowneBank Reports First Quarter 2024 Earnings
TowneBank Reports First Quarter 2024 Earnings SUFFOLK, Va., April 24, 2024 (GLOBE NEWSWIRE) -- TowneBank (the "Company" or "Towne") (NASDAQ: TOWN) today reported earnings for the quarter ended March 31, 2024 of $34.69 million, or $0.46 per diluted share, compared to $38.33 million, or $0.52 per diluted share, for the quarter ended March 31, 2023. Excluding acquisition-related items and the incremental FDIC special assessment, adjusted earnings (non-GAAP) for first quarter 2024 were $36.27 million, or $0.48 per diluted share, compared to $46.30 million, or $0.62 per diluted share, for firs...
TowneBank Announces Retirement of Two Directors
TowneBank Announces Retirement of Two Directors SUFFOLK, Va., March 27, 2024 (GLOBE NEWSWIRE) -- TowneBank (Nasdaq: TOWN) announced today that two long-serving members of its Board of Directors, Jacqueline B. Amato and Bradford L. Cherry, will step down from the Board and move to Emeritus status following the 2024 Annual Meeting of Shareholders. Cherry is a founding director of TowneBank, having served as a director since TowneBank’s opening in 1999. Amato joined TowneBank in 2000 to lead its successful entry into the residential mortgage lending business and was appointed to the Boar...
Sachin Shetty, Ph.D., Joins TowneBank Corporate Board of Directors
Sachin Shetty, Ph.D., Joins TowneBank Corporate Board of Directors SUFFOLK, Va., March 05, 2024 (GLOBE NEWSWIRE) -- TowneBank (Nasdaq: TOWN) is pleased to announce that TowneBank has appointed Sachin Shetty, Ph.D., to its Board of Directors. Dr. Shetty is an Executive Director for the Center for Secure and Intelligent Critical Systems and Professor with the Electrical and Computer Engineering Department at Old Dominion University, where he leads a research team focused on developing and integrating secure and intelligent technologies designed to ensure safe, reliable, and resilient criti...
TowneBank Announces Quarterly Cash Dividend
TowneBank Announces Quarterly Cash Dividend SUFFOLK, Va., Feb. 28, 2024 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ: TOWN) announced today that its Board of Directors declared its first-quarter shareholder cash dividend of $0.25 per common share payable on April 12, 2024, to shareholders of record on March 29, 2024. The amount and declaration of future cash dividends are subject to Board of Directors’ approval in addition to regulatory restrictions. About TowneBank:Founded in 1999, TowneBank is a company built on relationships, offering a full range of banking and othe...
TowneBank Reports Full Year and Fourth Quarter Financial Results For 2...
TowneBank Reports Full Year and Fourth Quarter Financial Results For 2023 SUFFOLK, Va., Jan. 24, 2024 (GLOBE NEWSWIRE) -- TowneBank (the "Company" or "Towne") (Nasdaq: TOWN) today reported financial results for the full year and fourth quarter ended December 31, 2023. For the year ended December 31, 2023, earnings were $153.72 million, or $2.06 per diluted share, compared to $188.99 million, or $2.60 per diluted share, for the year ended December 31, 2022. Excluding acquisition-related items, an FDIC special assessment, and certain notable items, adjusted earnings (non-GAAP) for 2023 were...
Townebank Announces Quarterly Cash Dividend
Townebank Announces Quarterly Cash Dividend SUFFOLK, Va., Nov. 29, 2023 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ: TOWN) announced today that its Board of Directors declared its fourth-quarter shareholder cash dividend of $0.25 per common share payable on January 12, 2024, to shareholders of record on December 29, 2023. The amount and declaration of future cash dividends are subject to Board of Directors’ approval in addition to regulatory restrictions. About TowneBank: Founded in 1999, TowneBank is a company built on relationships, offering a full range of banking and ...
TowneBank Reports Third Quarter 2023 Earnings
TowneBank Reports Third Quarter 2023 Earnings SUFFOLK, Va., Oct. 26, 2023 (GLOBE NEWSWIRE) -- TowneBank (the "Company" or "Towne") (NASDAQ: TOWN) today reported earnings for the quarter ended September 30, 2023 of $44.86 million, or $0.60 per diluted share, compared to $50.17 million, or $0.69 per diluted share, for the quarter ended September 30, 2022. "We were pleased to deliver a solid performance for the quarter which reflected the strength of our core deposit franchise, diversified revenue model and robust capital levels. TowneBank continues to retain and grow its leading 28% deposi...
TowneBank Announces Quarterly Cash Dividend
TowneBank Announces Quarterly Cash Dividend SUFFOLK, Va., Aug. 23, 2023 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ: TOWN) announced today that its Board of Directors declared its third-quarter shareholder cash dividend of $0.25 per common share payable on October 13, 2023, to shareholders of record on September 29, 2023. The amount and declaration of future cash dividends are subject to Board of Directors’ approval in addition to regulatory restrictions. About TowneBank: Founded in 1999, TowneBank is a company built on relationships, offering a full range of banking and ...
TowneBank Reports Second Quarter 2023 Earnings
TowneBank Reports Second Quarter 2023 Earnings SUFFOLK, Va., July 27, 2023 (GLOBE NEWSWIRE) -- TowneBank ("Towne") (NASDAQ: TOWN) today reported earnings for the quarter ended June 30, 2023 of $41.72 million, or $0.56 per diluted share, compared to $46.55 million, or $0.64 per diluted share, for the quarter ended June 30, 2022. Excluding acquisition-related items and the gain on sale of Berkshire Hathaway HomeServices ("BHHS") Towne Realty, core earnings (non-GAAP) for the quarter ended June 30, 2023 were $38.66 million, or $0.52 per diluted share, compared to $46.60 million, or $0.64 per...
TowneBank Announces Quarterly Cash Dividend
TowneBank Announces Quarterly Cash Dividend Common Stock Dividend Increased By 8.7% SUFFOLK, Va., May 24, 2023 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ: TOWN) announced today that its Board of Directors declared its second-quarter shareholder cash dividend of $0.25 per common share payable on July 14, 2023, to shareholders of record on June 30, 2023. The quarterly common stock cash dividend of $0.25 per common share, or $1.00 per common share on an annual basis, is an 8.7% increase from the previous dividend rate. The amount and declaration of future cash dividends are...
TowneBank Reports First Quarter 2023 Earnings
TowneBank Reports First Quarter 2023 Earnings SUFFOLK, Va., April 27, 2023 (GLOBE NEWSWIRE) -- TowneBank ("Towne") (NASDAQ: TOWN) today reported earnings for the quarter ended March 31, 2023 of $38.33 million, or $0.52 per diluted share, compared to $45.59 million, or $0.63 per diluted share, for the quarter ended March 31, 2022. Excluding acquisition-related items, core earnings (non-GAAP) for the quarter ended March 31, 2023 were $46.30 million, or $0.62 per diluted share, compared to $45.63 million, or $0.63 per diluted share, for the quarter ended March 31, 2022. "The quarter present...
Aubrey L. Layne Jr. and J. Christopher Perry Join TowneBank Corporate ...
Aubrey L. Layne Jr. and J. Christopher Perry Join TowneBank Corporate Board of Directors SUFFOLK, Va., March 14, 2023 (GLOBE NEWSWIRE) -- TowneBank (Nasdaq: TOWN) is pleased to announce that the TowneBank Board of Directors has appointed Aubrey L. Layne, Jr. and J. Christopher Perry to its Corporate Board. In addition, Layne has been appointed to serve on the Norfolk regional board for TowneBank, and Perry has been appointed to serve on the Virginia Beach regional board for TowneBank. Layne is the executive vice president of governance and external affairs for Sentara Healthcare. Befor...
Townebank Announces Quarterly Cash Dividend
Townebank Announces Quarterly Cash Dividend SUFFOLK, Va., Feb. 22, 2023 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ: TOWN) announced today that its Board of Directors on February 22, 2023 declared its first-quarter shareholder cash dividend of $0.23 per common share payable on April 12, 2023 to shareholders of record on March 30, 2023. The amount and declaration of future cash dividends are subject to Board of Directors’ approval in addition to regulatory restrictions. Annual Meeting of Shareholders: TowneBank announced that its 2023 Annual Meeting of Shareholders will be...
TowneBank Reports Full Year and Fourth Quarter Financial Results for 2...
TowneBank Reports Full Year and Fourth Quarter Financial Results for 2022 SUFFOLK, Va., Jan. 26, 2023 (GLOBE NEWSWIRE) -- TowneBank ("Towne") (Nasdaq: TOWN) today reported financial results for the full year and the fourth quarter ended December 31, 2022. For the year ended December 31, 2022, earnings were $188.99 million, or $2.60 per diluted share, compared to $215.38 million, or $2.97 per diluted share, for the year ended December 31, 2021. Earnings in the fourth quarter of 2022 were $46.69 million, or $0.64 per diluted share, compared to fourth quarter 2021 earnings of $40.18 million,...
TowneBank Announces Completion of Farmers Bank Merger
TowneBank Announces Completion of Farmers Bank Merger SUFFOLK, Va., Jan. 17, 2023 (GLOBE NEWSWIRE) -- TowneBank (Nasdaq: TOWN) announced today the completion of its merger with Farmers Bankshares, Inc. and its subsidiary, Farmers Bank, Windsor, Virginia. The merger solidifies the number one market share position for TowneBank in the Virginia Beach-Norfolk-Newport News MSA, adding Isle of Wight and Southampton counties to its service area while expanding Towne Insurance Agency’s market base. The merger was announced in August 2022 and received overwhelming support from Farmers shareholders...
TowneBank Names Clark as Chief Operating Officer
TowneBank Names Clark as Chief Operating Officer SUFFOLK, Va., Jan. 05, 2023 (GLOBE NEWSWIRE) -- TowneBank (the “Company” or “Towne”) (Nasdaq: TOWN) is pleased to announce the promotion of R. Lee Clark to Chief Operating Officer. In this role, Clark will have responsibility for bank operations and continue to oversee human resources. He will also become a member of the corporate management team. With three decades of experience in financial services, Clark joined the TowneBank family in 2006 as a senior business analyst and went on to leadership roles in loan administrations and banking ...
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