TowneBank (TOWN)

TowneBank Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	629.53	627.24	573.13	439.87	408.55	424.5
Interest Income on Investments	147.7	147.29	132.12	78.07	34.9	35.66
Total Interest Income	777.22	774.53	705.24	517.94	443.45	460.16
Interest Paid on Deposits	307.17	318.42	219.98	40.82	27.11	57.86
Interest Paid on Borrowings	10.19	13.5	27.49	15.76	13.98	22.15
Total Interest Expense	317.36	331.92	247.46	56.57	41.08	80.02
Net Interest Income	459.87	442.61	457.78	461.37	402.37	380.14
Net Interest Income Growth (YoY)	5.08%	-3.31%	-0.78%	14.66%	5.85%	6.08%
Mortgage Banking Activities	46.84	46.96	39.42	47.15	109.3	112.17
Gain (Loss) on Sale of Investments	2.24	0.31	9.38	-	1.22	27.26
Gain (Loss) on Sale of Equity Investments	1.24	1.24	-0.97	0.56	1.33	2.1
Other Non-Interest Income	186.02	183.27	170.18	161.07	150.48	129.47
Total Non-Interest Income	258.83	251.15	236.34	225.57	277.96	284.19
Non-Interest Income Growth (YoY)	8.09%	6.26%	4.78%	-18.85%	-2.19%	38.23%
Revenues Before Loan Losses	718.69	693.75	694.12	686.94	680.33	664.34
Provision for Loan Losses	2.75	-0.55	18.68	8.61	-16.77	67.18
Revenue	715.94	694.3	675.44	678.33	697.1	597.16
Revenue Growth (YoY)	6.71%	2.79%	-0.43%	-2.69%	16.74%	7.68%
Salaries and Employee Benefits	285.08	281.38	263.14	250.41	240.21	230.2
Amortization of Goodwill & Intangibles	12.55	12.77	14.16	10.62	11.13	11.5
Selling, General & Administrative	138.92	139.39	128.46	113.82	105.21	97.23
Other Non-Interest Expense	71.15	69.04	73.88	65.37	59.71	56.97
Total Non-Interest Expense	507.69	502.57	479.63	440.21	416.25	395.89
EBT Excluding Unusual Items	208.25	191.72	195.82	238.12	280.85	201.27
Pretax Income	207.08	190.38	186.22	237.05	279.83	201.33
Income Tax Expense	28.59	27.65	31.09	46.58	54.8	31.9
Earnings From Continuing Operations	178.49	162.73	155.14	190.47	225.03	169.43
Minority Interest in Earnings	-0.83	-0.98	-1.42	-1.48	-9.65	-23.9
Net Income	177.66	161.76	153.72	188.99	215.38	145.54
Net Income to Common	177.66	161.76	153.72	188.99	215.38	145.54
Net Income Growth	18.39%	5.23%	-18.66%	-12.26%	47.99%	4.87%
Basic Shares Outstanding	75	75	75	73	72	72
Diluted Shares Outstanding	75	75	75	73	73	72
Shares Change (YoY)	0.65%	0.67%	2.87%	0.02%	0.30%	0.22%
EPS (Basic)	2.37	2.16	2.06	2.60	2.97	2.01
EPS (Diluted)	2.36	2.15	2.06	2.60	2.97	2.01
EPS Growth	18.01%	4.41%	-20.80%	-12.46%	47.76%	4.69%
Dividend Per Share	1.000	1.000	0.980	0.890	0.780	0.720
Dividend Growth	-	2.04%	10.11%	14.10%	8.33%	2.86%
Effective Tax Rate	13.81%	14.52%	16.69%	19.65%	19.58%	15.84%

Updated Feb 28, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.