Last $14.87 USD
Change Today -0.02 / -0.13%
Volume 45.3K
TOWN On Other Exchanges
As of 4:30 PM 07/24/14 All times are local (Market data is delayed by at least 15 minutes).

towne bank (TOWN) Snapshot

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52 Week High
07/25/13 - $17.34
52 Week Low
10/8/13 - $13.66
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Dividend Yield
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.

1,311 Employees
Last Reported Date: 05/8/14
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

Towne Bank Announces Executive Appointments

TowneBank and Franklin Financial Corporation announced the signing of a definitive merger agreement pursuant to which TowneBank will acquire Franklin. Rick Wheeler will join the TowneBank Corporate Board and Executive Committee as well as serving on the TowneBank of Richmond Board along with other Franklin board members and a yet to be named group of Central Virginia business and community leaders. T. Patrick Collins, a prominent Richmond banker, has been named as President and CEO of TowneBank of Richmond. TowneBank's current executive management, led by Aston and TowneBank President, J. Morgan Davis, will form the core of the combined company's leadership team.

Towne Bank Declares Cash Dividend on its Series C Fixed-Rate Non-Cumulative Perpetual Preferred Stock Payable July 1, 2014

Board of Directors of Towne Bank on May 28, 2014 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 July 1, 2014, to the shareholder of record as of June 16, 2014.

Towne Bank expected to report Q2 2014 results on July 24, 2014. This event was calculated by Capital IQ (Created on May 22, 2014).

Towne Bank expected to report Q2 2014 results on July 24, 2014. This event was calculated by Capital IQ (Created on May 22, 2014).


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TOWN:US $14.87 USD -0.02

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Industry Average

Valuation TOWN Industry Range
Price/Earnings 12.8x
Price/Sales 2.3x
Price/Book 1.0x
Price/Cash Flow 10.5x
TEV/Sales NM Not Meaningful

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