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, vacations rental, 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 headquartered in Portsmouth, Virginia.
| Country | United States |
| IPO Date | May 5, 1999 |
| Industry | Banks - Regional |
| Sector | Financial Services |
| Employees | 2,724 |
| CEO | William I. Foster III |
Contact Details
Address: 5716 High Street Portsmouth, Virginia United States | |
| Website | https://www.townebank.com |
Stock Details
| Ticker Symbol | n/a |
| Exchange | NASDAQ |
| Fiscal Year | January - December |
| Reporting Currency | USD |
| CIK Code | n/a |
| CUSIP Number | 89214P109 |
| ISIN Number | US89214P1093 |
| Employer ID | - |
| SIC Code | n/a |
Key Executives
| Name | Position |
|---|---|
| William I. Foster III | Chief Executive Officer, President & Director |
| William T. Morrison | President & Chief Executive Officer of TowneBank Financial Services Group and Director |
| Denys J. Diaz | Senior EVice President & Chief Information Officer |
| George P. Whitley | Senior EVice President & Chief Legal Officer |
| R. Lee Clark | Senior Executive Vice President & Chief Operating Officer |
| William B. Littreal CPA | Senior EVice President & Chief Financial Officer |
| Brian K. Skinner | President & Regional Banking Director for Virginia and Northeastern North Carolina |
| G. Robert Aston Jr. | Executive Chairman |
| James P. Bradner | Executive Vice President of Towneinsurance |
| Kevin L. Fly | Senior EVice President & Chief Accounting Officer |