TowneBank (TOWN)
NASDAQ: TOWN · Real-Time Price · USD
36.13
+0.82 (2.32%)
Nov 22, 2024, 4:00 PM EST - Market closed

Company Description

TowneBank provides retail and commercial banking services for individuals, commercial enterprises, and professionals.

The company operates through three segments: Banking, Realty, and Insurance. It accepts various deposits, including demand deposits, savings accounts, money rate savings, certificates of deposit, and individual retirement accounts.

The company also offers secured and unsecured personal loans for financing automobiles, home improvements, education, and personal investments; commercial loans for working capital, business expansion, and equipment and machinery purchases; and mortgage loans, as well as real estate acquisition, development, and construction loans.

In addition, it provides other services, such as safe deposit boxes, treasury management services, direct deposit of payroll and social security checks, and automatic drafts for various accounts, as well as online, mobile, and on-call banking services.

Further, the company offers documentation services to accomplish tax deferral to investors; investment and asset management services; commercial mortgage brokerage services; and other financial services, such as financial, retirement, and estate planning services, as well as assistance on various investment options comprising alternative investments, annuities, margin accounts, convertible bonds, and pension and profit-sharing plans.

Additionally, it provides residential real estate, relocation, property management, vacation rentals, and title and settlement services; and originates residential mortgage loans.

The company also offers life, property, casualty, and vehicle insurance services; and employee benefit programs, such as health, dental, vision, and disability insurance.

It operates in Richmond, Virginia, the Greater Hampton Roads region in southeastern Virginia, northeastern North Carolina, Raleigh, Charlotte, Greensboro, and Greenville, North Carolina.

TowneBank was incorporated in 1998 and is based in Portsmouth, Virginia.

TowneBank
TowneBank logo
Country United States
Founded 1998
IPO Date May 7, 1999
Industry Banks - Regional
Sector Financials
Employees 2,784
CEO William Foster

Contact Details

Address:
5716 High Street
Portsmouth, Virginia 23703
United States
Phone 757 638 7500
Website townebank.com

Stock Details

Ticker Symbol TOWN
Exchange NASDAQ
Fiscal Year January - December
Reporting Currency USD
CUSIP Number 89214P109
ISIN Number US89214P1093
Employer ID 54-1910608

Key Executives

Name Position
William T. Morrison President and Chief Executive Officer of TowneBank Financial Services Group and Director
William I. Foster III Chief Executive Officer, President and Director
G. Robert Aston Jr. Executive Chairman
Brian K. Skinner President and Regional Banking Director for Virginia and Northeastern North Carolina
R. Lee Clark Senior Executive Vice President and Chief Operating Officer
Kevin L. Fly Senior Executive Vice President and Chief Accounting Officer
Denys J. Diaz Senior Executive Vice President and Chief Information Officer
George P. Whitley Senior Executive Vice President and Chief Legal Officer
Scott V. Williams Executive Vice President and Director of Marketing and Member Experience
James P. Bradner Executive Vice President of Towneinsurance