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TowneBank

TowneBank
1999 FOUNDED
PUBLIC STATUS
1K-5K EMPLOYEES
TOWN STOCK SYMBOL
13 INVESTMENTS
$26.29 SHARE PRICE (As of Friday Closing)
Description

Towne Bank primarily operates in Virginia and North Carolina. The company offers a diversified range of financial services through banking and nonbanking subsidiaries, and primarily serves the financial needs of individuals and small to medium-size businesses. The company has three reportable operating segments, which include banking, realty, and insurance. The banking segment provides traditional banking functions, along with commercial mortgage brokerage services and asset management services. The bank operates through a decentralized business model, while administrative decisions are made at the corporate level. The bank's strategic plan emphasizes generating fee income, which still trails its net interest income. Most of the company's loan portfolio is in real estate loans.

Ownership Status
Publicly Held
Financing Status
Corporation
Primary Industry
Regional Banks
Stock Exchange
NAS
Primary Office
  • 5716 High Street West
  • Portsmouth, VA 23703
  • United States

+1 (757) 000-0000
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TowneBank Stock Performance

52 wk Range Market Cap Prev. Close EPS Average Volume Shares
$22.88 - $33.85 $1.91B $25.75 $1.88 107K 72.5M

TowneBank Financials Summary

In Thousands,
USD
TTM
31-Dec-2018
FY 2018
31-Dec-2018
FY 2017
31-Dec-2017
FY 2016
31-Dec-2016
Revenue 532,001 532,001 448,404 373,185
Net Income 133,793 133,793 87,663 67,250
Total Assets 11,163,030 11,163,030 8,522,176 7,973,915
Total Debt 9,464,754 9,464,754 7,247,189 6,755,248
Public Fundamental Data provided by Morningstar, Inc. disclaimer

TowneBank Competitors (28)

Company Name Financing Status Location Employees Total Raised Last Financing Date/Type Last Financing Amount
Seacoast Bank Corporation Stuart, FL 000 00000 00000000 00000
0000 000 Corporation Little Rock, AR 0000 00000000
0000000 000000000 Formerly PE-Backed Everett, WA 000 000.00 00000000 000.00
00000000 000000000 Corporation Mount Olive, NC
0000 000 0000 Corporate Backed or Acquired Houston, TX 000000&0
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TowneBank Acquisitions (13)

Company Name Deal Date Deal Type Deal Size Industry Lead Partner
0000000 0000 26-Jan-2018 000000000000000000 00000 Regional Banks 0. 000000 00000 00.
0000 00000 0000000 01-Jan-2018 000000000000000000 Other Commercial Services 0. 000000 00000
000000 00000000 00 11-Apr-2017 000000000000000000 Cruise Lines
0000000 0000 24-Jun-2016 000000000000000000 00000 Regional Banks 0. 000000 00000 00.
Gloucester Southside Insurance Agency 01-Feb-2015 Merger/Acquisition Multi-line Insurance 000000 000000
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TowneBank Exits (1)

Company Name Exit Date Exit Type Exit Size Status Buyers
0000000 0000000 00 03-Jan-2008 000000000000000000 Completed
  • 000000000
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TowneBank Subsidiaries (5)

Company Name Industry Location Founded
Invincia Insurance Solutions Multi-line Insurance Chesterfield, VA 2006
0000000 0000 Commercial Bank Raleigh, NC 0000
000000 00000000 00 Cruise Lines McHenry, MD 0000
00000000 000000000 Brokerage Kitty Hawk, NC 0000
0000 00000 0000000 Other Commercial Services McHenry, MD
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TowneBank Executive Team (9)

Name Title Board
Seat
Contact
Info
G. Robert Aston Jr. Founding Chairman and Chief Executive Officer
J. Morgan Davis President and Chief Banking Officer
Jeremy Starkey President, Commercial Real Estate Finance
Patrick Collins President, TowneBank of Richmond
Brad Schwartz Chief Operating Officer

1 Former Executive

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TowneBank Board Members (1)

Name Representing Role Since Contact
Info
0. 000000 00000 00. TowneBank Founding Chairman and Chief Executive Officer 000 0000