Last $15.68 USD
Change Today -0.07 / -0.44%
Volume 20.6K
TOWN On Other Exchanges
Symbol
Exchange
NASDAQ GS
As of 5:10 PM 12/24/14 All times are local (Market data is delayed by at least 15 minutes).

towne bank (TOWN) Snapshot

Open
$15.80
Previous Close
$15.75
Day High
$15.80
Day Low
$15.51
52 Week High
07/15/14 - $16.70
52 Week Low
09/8/14 - $12.93
Market Cap
545.1M
Average Volume 10 Days
77.1K
EPS TTM
$1.25
Shares Outstanding
34.8M
EX-Date
12/26/14
P/E TM
12.5x
Dividend
$0.44
Dividend Yield
2.68%
Current Stock Chart for TOWNE BANK (TOWN)

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towne bank (TOWN) Details

TowneBank, through its subsidiaries, provides retail and commercial banking services for individuals, and small and medium-size businesses in southeastern Virginia and northeastern North Carolina. The company operates in three segments: Banking, Realty, and Insurance. It accepts various deposits products, including checking accounts, checking accounts, demand deposits, money rate savings, negotiable order of withdrawal accounts, individual retirement accounts, savings accounts, money market accounts, and certificates of deposit. The company also offers personal loans for financing automobiles, home improvements, education, and personal investments; commercial loans for working capital, business expansion, and equipment and machinery purchases; fixed- and floating-rate mortgage loans; and real estate construction and acquisition loans. It also provides safe deposit boxes, cash management services, travelers’ checks, direct deposit of payroll and social security checks, and automatic drafts for various accounts, as well as Internet, mobile, and on-call banking services. In addition, the company offers documentation to accomplish tax deferral to investors; asset management and commercial mortgage brokerage services; and other financial services, such as financial, retirement, and estate planning services, as well as assistance on various investment options consisting of alternative investments, annuities, margin accounts, convertible bonds, and pension and profit sharing plans. Further, it provides residential real estate, resort property management, and commercial residential title insurance services; and originates various mortgage loans. Additionally, the company offers life, property, casualty, and vehicle insurance services; travel, medical, and baggage protection insurance for travelers; and employee benefit programs, such as medical, dental, vision, and disability insurance. The company was founded in 1998 and is based in Portsmouth, Virginia.

1,373 Employees
Last Reported Date: 11/6/14
Founded in 1998

towne bank (TOWN) Top Compensated Officers

Chairman of the Board, Chief Executive Office...
Total Annual Compensation: $875.0K
President, Chief Banking Officer and Director
Total Annual Compensation: $500.0K
Chief Financial officer and Senior Executive ...
Total Annual Compensation: $345.0K
Director, Chairman of Townebank Mortgage and ...
Total Annual Compensation: $768.8K
Director, Chief Executive Officer of Towne Fi...
Total Annual Compensation: $414.3K
Compensation as of Fiscal Year 2013.

towne bank (TOWN) Key Developments

TowneBank Announces Fourth Quarter Cash Dividend, Payable on January 12, 2015; Announces Dividend on Series C Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Payable on January 2, 2015

TowneBank announced that its Board of Directors on November 26, 2014 declared its fourth-quarter shareholder cash dividend of $0.11 per common share payable on January 12, 2015 to shareholders of record on December 30, 2014. Also, on November 26, 2014 the Board of Directors declared a cash dividend of $2.50 per share on its Series C Fixed-Rate Non-Cumulative Perpetual Preferred Stock. This preferred dividend is payable on January 2, 2015, to the shareholder of record as of December 16, 2014.

Towne Bank Presents at Sandler O'Neill + Partners, L.P. 2014 East Coast Financial Services Conference, Nov-13-2014

Towne Bank Presents at Sandler O'Neill + Partners, L.P. 2014 East Coast Financial Services Conference, Nov-13-2014 . Venue: Naples, Florida, United States.

Towne Bank Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Towne Bank reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, net interest income was $36,867,000 against $36,152,000 a year ago. Total interest income was $43,668,000 against $42,695,000 a year ago. Income before income tax expense and non-controlling interest was $18,030,000 against $15,583,000 a year ago. Net income attributable to the company was $12,126,000 against $10,418,000 a year ago. Net income available to common shareholders was $11,935,000 or $0.34 per basic and diluted share against $9,078,000 or $0.28 per basic and diluted share a year ago. Book value per common share was $14.85 against $13.95 a year ago. Book value per common share -tangible was $11.21 against $10.54 a year ago. Return on average assets was 0.97% against 0.90% a year ago. Return on average assets - tangible was 1.03% against 0.93% a year ago. Return on average equity was 7.86% against 7.17% a year ago. Return on average equity - tangible was 10.32% against 9.08% a year ago. Return on average common equity was 8.98% against 7.97% a year ago. Return on average common equity – tangible was 12.34% against 10.88% a year ago. For the nine months, net interest income was $108,598,000 against $107,439,000 a year ago. Total interest income was $128,669,000 against $127,189,000 a year ago. Income before income tax expense and non-controlling interest was $52,527,000 against $47,702,000 a year ago. Net income attributable to the company was $34,934,000 against $32,089,000 a year ago. Net income available to common shareholders was $34,361,000 or $0.98 per basic and diluted share against $28,053,000 or $0.28 per basic and diluted share a year ago. Return on average assets was 0.97% against 0.96% a year ago. Return on average assets - tangible was 1.03% against 0.99% a year ago. Return on average equity was 7.76% against 7.51% a year ago. Return on average equity - tangible was 10.13% against 9.49% a year ago. Return on average common equity was 8.89% against 8.60% a year ago. Return on average common equity - tangible was 12.14% against 11.85% a year ago.

 

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TOWN:US $15.68 USD -0.07

TOWN Competitors

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Industry Analysis

TOWN

Industry Average

Valuation TOWN Industry Range
Price/Earnings 12.7x
Price/Sales 2.4x
Price/Book 1.0x
Price/Cash Flow 10.6x
TEV/Sales NM Not Meaningful
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