TowneBank

TowneBank engages in the provision of retail and commercial banking services to individuals and small and medium size businesses. It operates through the following segments: Banking, Realty, and Insurance. The Banking segment offers loan and deposit services to retail and commercial customers. The Realty segment focuses on the provision of residential real estate services and originations of a variety of mortgage loans. The Insurance segment includes the provision of full-service commercial and retail insurance, employee benefit services, and travel insurance. The company was founded by R. Scott Morgan on September 3, 1998 and is headquartered in Portsmouth, VA.

Earnings data Q4 2020

Earnings data Q1 2021

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Earnings data Q4 2021

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Earnings data Q4 2022

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Earnings data Q4 2023

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Earnings data Q2 2024

Earnings data Q3 2024

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SUFFOLK, Va., Feb. 09, 2022 (GLOBE NEWSWIRE) -- TowneBank (Nasdaq: TOWN) announced today the completion of its public offering and sale of $250 million of its 3.125% fixed-to-floating rate subordinated notes due 2032 (the “Notes”). The Notes were sold at par, resulting in net proceeds, after discounts and estimated offering expenses, of approximately $247 million.

TowneBank Announces Completion of Subordinated Notes Offering

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AMP, BG, and TOWN made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on February 3, 2022

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SUFFOLK, Va., Feb. 02, 2022 (GLOBE NEWSWIRE) -- TowneBank (the “Company”) (Nasdaq: TOWN) announced today the pricing of its offering of $250 million of its 3.125% fixed-to-floating rate subordinated notes due 2032 (the “Notes”). The Notes will initially bear interest at 3.125% per annum, with interest payable semiannually in arrears, commencing on the issue date, to, but excluding, February 15, 2027. Commencing February 15, 2027, the interest rate on the Notes will reset quarterly to a floating rate per annum equal to a benchmark rate that is expected to be Three-Month Term SOFR (which is defined in the Notes) plus 168 basis points, with interest payable quarterly in arrears. The Company may redeem the Notes, in whole or in part, on and after February 15, 2027, at a price equal to 100% of the principal amount of the Notes being redeemed plus accrued and unpaid interest. The Notes will mature on February 15, 2032 if they are not earlier redeemed.

TowneBank Announces Pricing of Subordinated Notes Offering

TowneBank (TOWN) delivered earnings and revenue surprises of -8.33% and 0.11%, respectively, for the quarter ended December 2021. Do the numbers hold clues to what lies ahead for the stock?

TowneBank (TOWN) Lags Q4 Earnings Estimates

SUFFOLK, Va., Jan. 27, 2022 (GLOBE NEWSWIRE) -- TowneBank (the “Company” or “Towne”) (Nasdaq: TOWN) announced today that J. Morgan Davis, a founding member of the Company and current Chief Executive Officer, plans to retire in 2022. In order to ensure a smooth and orderly transition process, Mr. Davis intends to remain in his current position until the appointment of his successor and will help with the transition as necessary, after which he will serve as a senior advisor to the Company.

TowneBank Announces CEO Transition

22nd Consecutive Year of Earnings Improvement 22nd Consecutive Year of Earnings Improvement

TowneBank Reports Record Full Year and Fourth Quarter Financial Results for 2021

TowneBank (TOWN) delivered earnings and revenue surprises of 9.52% and 5.62%, respectively, for the quarter ended September 2021. Do the numbers hold clues to what lies ahead for the stock?

TowneBank (TOWN) Q3 Earnings and Revenues Surpass Estimates

SUFFOLK, Va., Oct. 28, 2021 (GLOBE NEWSWIRE) -- TowneBank (the "Company" or "Towne") (NASDAQ: TOWN) today reported earnings for the quarter ended September 30, 2021 of $50.40 million, or $0.69 per diluted share, compared to $34.46 million, or $0.48 per diluted share, for the quarter ended September 30, 2020.

TowneBank Reports Third Quarter 2021 Earnings

TowneBank (TOWN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

TowneBank (TOWN) Earnings Expected to Grow: Should You Buy?

Future profitability levels are likely to be sustained at a better than national average pace.

TowneBank: Good Profitability Levels Likely To Drive Additional Upside

SUFFOLK, Va., July 30, 2021 (GLOBE NEWSWIRE) -- TowneBank (NASDAQ: Towne) announced today that its Board of Directors has elected Brad Schwartz as President and Chief Operating Officer succeeding J. Morgan Davis who will continue to serve as Chief Executive Officer of the Company.

TowneBank Names Brad E. Schwartz President and Chief Operating Officer

TowneBank (TOWN) delivered earnings and revenue surprises of 11.59% and 0.21%, respectively, for the quarter ended June 2021. Do the numbers hold clues to what lies ahead for the stock?

TowneBank (TOWN) Tops Q2 Earnings and Revenue Estimates

SUFFOLK, Va., July 29, 2021 (GLOBE NEWSWIRE) -- TowneBank (the "Company") (NASDAQ: TOWN) today reported earnings for the quarter ended June 30, 2021 of $55.80 million, or $0.77 per diluted share, compared to $34.61 million, or $0.48 per diluted share, for the quarter ended June 30, 2020.

TowneBank Reports Second Quarter 2021 Earnings

TowneBank (TOWN) Earnings Expected to Grow: What to Know Ahead of Q2 Release

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13 Upcoming Dividend Increases Including 2 Dividend Kings

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TowneBank (TOWN) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).

TowneBank (TOWN) Moves to Strong Buy: Rationale Behind the Upgrade

In a bid to increase shareholder value, TowneBank (TOWN) raises quarterly cash dividend.

TowneBank (TOWN) Announces 11% Dividend Hike: Is it Worth a Look?

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TowneBank (TOWN) delivered earnings and revenue surprises of 46.15% and 9.76%, respectively, for the quarter ended March 2021. Do the numbers hold clues to what lies ahead for the stock?

TowneBank (TOWN) Beats Q1 Earnings and Revenue Estimates

SUFFOLK, Va., April 29, 2021 (GLOBE NEWSWIRE) -- TowneBank (the “Company”) (NASDAQ: TOWN) today reported earnings for the quarter ended March 31, 2021 of $69.0 million, or $0.95 per diluted share, compared to $26.38 million, or $0.36 per diluted share, for the quarter ended March 31, 2020.

TowneBank Reports Record First Quarter 2021 Earnings

TowneBank (TOWN) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.

TowneBank (TOWN): Strong Industry, Solid Earnings Estimate Revisions

As of late, it has definitely been a great time to be an investor in TowneBank (TOWN).

TowneBank's (TOWN) Shares March Higher, Can It Continue?

News for TowneBank Stock (TOWN)