TowneBank - Company Profile

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TowneBank: Overview

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TowneBank is a provider of retail and corporate banking and 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 provides investment products, asset management, retirement planning, financial planning, and tax and estate planning. 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.

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Headquarters United States of America
Address 5716 High Street, Portsmouth, Virginia, 23703-4502
Website townebank.com
Telephone 1 757 6387500
No of Employees 2,766
Industry Financial Services
Ticker Symbol & Exchange TOWN (NASD)
Revenue (2023) $941.6M 26.6% (2023 vs 2022)
EPS XYZ
Net Income (2023) XYZ -18.7% (2023 vs 2022)
Market Cap* $1.9B
Net Profit Margin (2023) XYZ -35.8% (2023 vs 2022)
* As of and is in US$
View TowneBank financials
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TowneBank premium industry data and analytics

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IT Services Contracts

Improve competitive bidding with insights into all publicly disclosed IT services contracts for TowneBank (including IT outsourcing, business process outsourcing, systems integration & consulting and more).

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ICT Spend & Tech Priorities

IT Client Prospector provides intelligence on TowneBank’s likely spend across technology areas enabling you to understand the digital strategy.

Products and Services

Products Services
Accounts and Deposits: Online Banking
Checking Accounts Mobile Banking
Savings Accounts Merchant Services
XYZ XYZ
XYZ XYZ
XYZ XYZ
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History

History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.

Year Event Description
2023 Corporate Changes/Expansions In June, the company opened an office in the Short Pump Town Center.
2023 Acquisitions/Mergers/Takeovers In January, the bank completed the merger with Farmers Bankshares, Inc. and Farmers Bank.
2022 Contracts/Agreements In July, the bank and Baker Hill announced a collaboration to provide solution that streamline loan origination and portfolio monitoring.
Dive into past operations, including product releases, deals, acquisitions & more Dive into past operations, including product releases, deals, acquisitions & more Find out more
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Competitor Comparison

Key Parameters TowneBank Wells Fargo & Co Truist Financial Corp First-Citizens Bank & Trust Company United Bank Ltd
Headquarters United States of America United States of America United States of America United States of America Pakistan
City Portsmouth San Francisco Charlotte Raleigh Karachi
State/Province Virginia California North Carolina North Carolina -
No. of Employees 2,766 226,000 52,848 4,085 12,583
Entity Type Public Public Public Private Public
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Chart Financial activity with access to more key stats Chart Financial activity with access to more key stats Find out more
Executives
Name Position Board Since Age
G. Robert Aston, Jr. Chairman Executive Board 2018 78
William I. Foster, III Chief Executive Officer; Director; President Executive Board 2023 -
William B. Littreal Senior Executive Vice President; Chief Financial Officer Senior Management 2018 52
R Lee Clark Senior Executive Vice President; Chief Operating Officer Senior Management 2023 -
Denys J. Diaz Chief Information Officer; Senior Executive Vice President Senior Management - 56
Non Dignissim Eros Proin vel Convallis 2024 XY
Non Dignissim Eros Proin vel Convallis 2024 XY
Non Dignissim Eros Proin vel Convallis 2024 XY
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