TowneBank - Company Profile
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TowneBank is a provider of retail and corporate banking, as well as other financial solutions. It offers a range of accounts and deposits, such as checking, savings, money market, and certificate of deposits; credit and debit cards; loans for auto, home equity, personal needs, mortgage, construction, development lending, and dealer financing, among others; letter of credit; merchant services; treasury solutions; and online and mobile solutions. TowneBank offers investment products, asset management, retirement planning, financial planning, and tax and estate planning services. It offers insurance and private banking solutions. The bank has operations in Virginia and North Carolina in the US. TowneBank is headquartered in Portsmouth, Virginia, the US.
Headquarters
United States of America
Address
5716 High St W, Portsmouth, Virginia, 23703
Website
townebank.com
Telephone
1 757 6387500
No of Employees
2,720
Industry
Financial Services
Ticker Symbol & Exchange
TOWN (NASD)
Revenue (2024)
$1.1B
9.1%
(2024 vs 2023)
EPS
XYZ
Net Income (2024)
XYZ
5.1%
(2024 vs 2023)
Market Cap*
$3.3B
Net Profit Margin (2024)
XYZ
-3.7%
(2024 vs 2023)
* As of and is in US$
TowneBank premium industry data and analytics
Products and Services
| Products | Services |
|---|---|
| Accounts and Deposits: | Online Banking |
| Checking | Mobile Banking |
| Savings | Merchant Services |
| XYZ | XYZ |
| XYZ | XYZ |
| XYZ | XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2025 | Corporate Changes/Expansions | In October, the bank opened its Greensboro Financial Center. |
| 2025 | Acquisitions/Mergers/Takeovers | In September, the bank merged with Old Point Financial Corporation. |
| 2025 | Contracts/Agreements | In August, the bank entered into a merger agreement to acquire Dogwood State Bank. |
Competitor Comparison
| Key Parameters | TowneBank | Wells Fargo & Co | Truist Financial Corp | First-Citizens Bank & Trust Company | Atlantic Union Bankshares Corp |
|---|---|---|---|---|---|
| Headquarters | United States of America | United States of America | United States of America | United States of America | United States of America |
| City | Portsmouth | San Francisco | Charlotte | Raleigh | Glen Allen |
| State/Province | Virginia | California | North Carolina | North Carolina | Virginia |
| No. of Employees | 2,720 | 200,999 | 37,086 | 18,010 | 3,064 |
| Entity Type | Public | Public | Public | Private | Public |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| G. Robert Aston, Jr. | Chairman | Executive Board | 2018 | 79 |
| William I. Foster, III | Director; President; Chief Executive Officer | Executive Board | 2023 | 69 |
| William B. Littreal | Senior Executive Vice President; Chief Financial Officer | Senior Management | 2018 | 55 |
| R Lee Clark | Chief Operating Officer; Senior Executive Vice President | Senior Management | 2023 | 57 |
| Jeffrey F. Benson | Vice Chairman | Executive Board | 2016 | 63 |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
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