Price$33.15-0.48 (-1.41%)
01:30 PM07:45 PM
News · 26 weeks11-75%
2025-12-072026-05-31
Mix690d
- Dividends2(33%)
- Analyst2(33%)
- Other1(17%)
- M&A1(17%)
Latest news
25 items- PRTowneBank Announces Quarterly Cash DividendSUFFOLK, Va., May 20, 2026 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ:TOWN) announced today that its Board of Directors declared its second-quarter shareholder cash dividend of $0.28 per common share payable on July 10, 2026, to shareholders of record on June 26, 2026. The quarterly common stock cash dividend of $0.28 per common share, or $1.12 per common share on an annual basis, is a 3.7% increase from the previous dividend rate. The amount and declaration of future cash dividends are subject to Board of Directors' approval in addition to regulatory restrictions. Following the sale of our Resort Property Management business on April 3, 2026 for a purchase price of $250 m
- ANALYSTTowne Bank downgraded by Keefe Bruyette with a new price targetKeefe Bruyette downgraded Towne Bank from Outperform to Mkt Perform and set a new price target of $38.00
- ANALYSTHovde Group reiterated coverage on Towne Bank with a new price targetHovde Group reiterated coverage of Towne Bank with a rating of Outperform and set a new price target of $41.00 from $42.00 previously
- PRTowneBank Announces Special Cash DividendSUFFOLK, Va., April 23, 2026 (GLOBE NEWSWIRE) -- TowneBank (NASDAQ:TOWN) announced today that its Board of Directors declared a onetime special dividend of $0.70 per common share payable on May 20, 2026 to shareholders of record as of the close of business on May 4, 2026. The total dividend payout of approximately $65 million represents a payment to our shareholders of roughly 32% of the estimated $203 million gain, before taxes and deal costs, recognized by TowneBank on the sale of its Resort Property Management business that was completed on April 3, 2026 for a purchase price of $250 million. "Throughout the years we have executed on the unique strategy of building intrinsic value for
- PRTowneBank Reports First Quarter 2026 EarningsSUFFOLK, Va., April 22, 2026 (GLOBE NEWSWIRE) -- TowneBank (the "Company" or "Towne") (NASDAQ:TOWN) today reported earnings for the quarter ended March 31, 2026 of $40.99 million, or $0.45 per diluted share, compared to $43.71 million, or $0.58 per diluted share, for the quarter ended March 31, 2025. Excluding certain items affecting comparability, core earnings (non-GAAP) were $66.73 million, or $0.74 per diluted share, in the current quarter compared to $44.10 million, or $0.58 per diluted share, for the quarter ended March 31, 2025. "TowneBank posted a strong first quarter achieving record total revenues of $246 million. We continue to invest in top talent across our Carolina footprint
- PRTowneBank Announces Sale of Resort Property Management SegmentSUFFOLK, Va., April 06, 2026 (GLOBE NEWSWIRE) -- TowneBank (NASDAQ:TOWN) today announced it has completed a transaction to sell its Resort Property Management segment, Towne Vacations, to Belcrest Vacations Acquisitions, LLC for a transaction value of $250 million. "The sale of Towne Vacations marks yet another opportunity for creating shareholder value through TowneBank's unique strategy of investing and building companies outside of traditional banking activities," said G. Robert Aston, Jr., Executive Chairman. "The transaction is financially compelling and provides the business with a partner who is well positioned to support its future growth. I would like to personally thank the ded
- PRTowneBank Announces Quarterly Cash DividendSUFFOLK, Va., Feb. 25, 2026 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ:TOWN) announced today that its Board of Directors declared its first-quarter shareholder cash dividend of $0.27 per common share payable on April 10, 2026, to shareholders of record on March 31, 2026. The amount and declaration of future cash dividends are subject to Board of Directors' approval in addition to regulatory restrictions. About TowneBank:Founded in 1999, TowneBank is a company built on relationships, offering a full range of banking and other financial services, with a focus of serving others and enriching lives. Dedicated to a culture of caring, TowneBank values all employees and members b
- PRRichard Cullen Joins the TowneBank Corporate Board of DirectorsSUFFOLK, Va., Feb. 02, 2026 (GLOBE NEWSWIRE) -- TowneBank (NASDAQ:TOWN) is pleased to announce the appointment of Richard Cullen to its Board of Directors. Mr. Cullen has enjoyed a distinguished legal career with decades of experience in both public service and private practice. Most recently, Mr. Cullen served as Counselor to Governor Glenn Youngkin during his term in office from 2022 to 2026. Other notable public service positions include his appointment in 1997 by Governor George Allen to serve as Attorney General of Virginia and his appointment in 1991 by President George H.W. Bush to serve as United States Attorney for the Eastern District of Virginia. Mr. Cullen spent his career in
- PRTowneBank Reports Full Year and Fourth Quarter Financial Results for 2025SUFFOLK, Va., Jan. 28, 2026 (GLOBE NEWSWIRE) -- TowneBank (the "Company" or "Towne") (NASDAQ:TOWN) today reported financial results for the full year and fourth quarter ended December 31, 2025. For the year ended December 31, 2025, earnings were $169.53 million, or 2.21 per diluted share, compared to $161.36 million, or 2.15 per diluted share, for the year ended December 31, 2024. Excluding certain items affecting comparability, core earnings (non-GAAP) for 2025 were $231.55 million, or $3.02 per diluted share, compared to $163.24 million, or $2.17 per diluted share, for 2024. Earnings in the fourth quarter of 2025 were $40.63 million, or 0.51 per diluted share, compared to fourth quarter
- PRTowneBank Announces Completion of Dogwood State Bank MergerSUFFOLK, Va., Jan. 12, 2026 (GLOBE NEWSWIRE) -- Hampton Roads-based TowneBank (NASDAQ:TOWN) announced today the completion of its merger with Raleigh-based Dogwood State Bank ("Dogwood"). The merger substantially enhances TowneBank's strategic journey down the fast-growing Interstate 85 corridor from Richmond, Virginia, and into Greenville and the upstate region of South Carolina. The merger also strengthens TowneBank's position in key North Carolina markets, including Raleigh, Charlotte, Greensboro-Winston Salem, and Greenville. In addition, the merger expands the bank's footprint along the Eastern North Carolina coast from the Outer Banks to include Morehead City, Wilmington, and Fayette
- PRDogwood State Bank Shareholders Approve Merger into TowneBankRALEIGH, N.C., Dec. 10, 2025 /PRNewswire/ -- Shareholders of Dogwood State Bank (OTCQX:DSBX) ("Dogwood" or the "Bank") approved the previously announced merger of Dogwood into TowneBank (NASDAQ:TOWN) at a special meeting of shareholders on December 3, 2025. The parties expect the merger to close early in the first quarter of 2026 subject to satisfaction of customary closing conditions, including the receipt of all required regulatory approvals. Steve Jones, CEO of Dogwood, stated, "We are pleased that our shareholders have approved the proposed merger into TowneBank. This appr
- PRTowneBank Announces Quarterly Cash DividendSUFFOLK, Va., Nov. 26, 2025 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ:TOWN) announced today that its Board of Directors declared its fourth-quarter shareholder cash dividend of $0.27 per common share payable on January 7, 2026, to shareholders of record on December 26, 2025. The amount and declaration of future cash dividends are subject to Board of Directors' approval in addition to regulatory restrictions. About TowneBank:Founded in 1999, TowneBank is a company built on relationships, offering a full range of banking and other financial services, with a focus of serving others and enriching lives. Dedicated to a culture of caring, TowneBank values all employees and memb
- PRTowneBank Reports Third Quarter 2025 EarningsSUFFOLK, Va., Oct. 22, 2025 (GLOBE NEWSWIRE) -- TowneBank (the "Company" or "Towne") (NASDAQ:TOWN) today reported earnings for the quarter ended September 30, 2025 of $38.98 million, or $0.51 per diluted share, compared to $42.95 million, or $0.57 per diluted share, for the quarter ended September 30, 2024. Excluding certain items affecting comparability, core earnings (non-GAAP) were $63.45 million, or $0.83 per diluted share, in the current quarter compared to $43.39 million, or $0.58 per diluted share, for the quarter ended September 30, 2024. "We delivered another strong quarter with total revenue up nearly 24% year-over-year. During the period, we announced a new partnership with Dog
- PRTowneBank Announces Completion of Old Point Financial Corporation MergerSUFFOLK, Va., Sept. 02, 2025 (GLOBE NEWSWIRE) -- TowneBank (NASDAQ:TOWN) announced today the completion of its merger with Old Point Financial Corporation ("Old Point"), the parent company of The Old Point National Bank of Phoebus ("Old Point National Bank") and Old Point Trust & Financial Services, N.A. ("Old Point Wealth Management"). The merger, which included Old Point National Bank's merger into TowneBank, enhances TowneBank's position in the Hampton Roads MSA with the addition of a high-quality core deposit franchise. Following the merger, which was effective on September 1, 2025, Old Point National Bank locations will operate as "Old Point National Bank, a Division of TowneBank" un
- PRTowneBank Announces Quarterly Cash DividendSUFFOLK, Va., Aug. 27, 2025 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ:TOWN) announced today that its Board of Directors declared its third-quarter shareholder cash dividend of $0.27 per common share payable on October 10, 2025, to shareholders of record on September 29, 2025. The amount and declaration of future cash dividends are subject to Board of Directors' approval in addition to regulatory restrictions. About TowneBank:Founded in 1999, TowneBank is a company built on relationships, offering a full range of banking and other financial services, with a focus of serving others and enriching lives. Dedicated to a culture of caring, TowneBank values all employees and mem
- PRKBRA Comments on TowneBank's Merger Agreement to Acquire Dogwood State BankOn August 19, 2025, Portsmouth, VA-based TowneBank (NASDAQ:TOWN)(KBRA Senior Unsecured Debt rating: A-/Stable Outlook) announced a definitive acquisition agreement with Raleigh, NC-based Dogwood State Bank, (OTC:DSBX, ", Dogwood", , $2.4 billion assets, $2 billion deposits)) in an all-stock deal valued at $476.2 million (or $25.04/share of DSBX common stock, based on TOWN's 15-day average closing stock price of $35.77 on August 18, 2025), reflective of a price to TBV of 2.1x. The merger is expected to close in 1Q26. The proforma bank will have $22 billion in assets, $16 billion in loans, and $19 billion in deposits including the pending acquisition of Old Point Financial Corporation (expect
- PRTowneBank Expands Carolinas Presence Through Agreement to Acquire Dogwood State BankSUFFOLK, Va. and RALEIGH, N.C., Aug. 19, 2025 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ:TOWN) and Raleigh based Dogwood State Bank (OTCQX:DSBX) ("Dogwood"), today announced the signing of a definitive merger agreement pursuant to which TowneBank will acquire Dogwood State Bank. The proposed transaction substantially enhances TowneBank's strategic journey down the fast-growing Interstate 85 corridor from Richmond, Virginia to Greenville and the upstate region of South Carolina. The bank's current market position will be expanded in Raleigh, Greensboro-Winston Salem, Greenville, and Charlotte, North Carolina. Additionally, the merger will increase the bank's footprint along t
- PRTowneBank and Old Point Financial Corporation Announce Expected Closing Date and Election Deadline for MergerSUFFOLK, Va. and HAMPTON, Va., Aug. 14, 2025 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ:TOWN) and Old Point Financial Corporation (NASDAQCM: OPOF) ("Old Point"), the parent company of The Old Point National Bank of Phoebus ("Old Point National Bank"), today announced that they had received regulatory approval from the Federal Deposit Insurance Corporation (the "FDIC") and the Bureau of Financial Institutions of the Virginia State Corporation Commission to complete the proposed merger of Old Point and Old Point National Bank with TowneBank. All regulatory approvals required for the transaction have now been received. The merger is expected to close on or about September 1, 20
- PRTowneBank and Old Point Financial Corporation Announce Expected Closing Date and Election Deadline for MergerSUFFOLK, Va. and HAMPTON, Va., Aug. 14, 2025 /PRNewswire/ -- Hampton Roads based TowneBank (NASDAQ:TOWN) and Old Point Financial Corporation (NASDAQCM: OPOF) ("Old Point"), the parent company of The Old Point National Bank of Phoebus ("Old Point National Bank"), today announced that they had received regulatory approval from the Federal Deposit Insurance Corporation (the "FDIC") and the Bureau of Financial Institutions of the Virginia State Corporation Commission to complete the proposed merger of Old Point and Old Point National Bank with TowneBank. All regulatory approvals required for the transaction have now been received. The merger is expected to close on or about September 1, 2025, su
- ANALYSTHovde Group reiterated coverage on Towne Bank with a new price targetHovde Group reiterated coverage of Towne Bank with a rating of Outperform and set a new price target of $41.00 from $39.00 previously
- PRTowneBank Reports Second Quarter 2025 EarningsSuffolk, Va., July 23, 2025 (GLOBE NEWSWIRE) -- TowneBank (the "Company" or "Towne") (NASDAQ:TOWN) today reported earnings for the quarter ended June 30, 2025 of $38.84 million, or $0.51 per diluted share, compared to $42.86 million, or $0.57 per diluted share, for the quarter ended June 30, 2024. Excluding certain items affecting comparability, core earnings (non-GAAP) were $61.34 million, or $0.81 per diluted share, in the current quarter compared to $42.56 million, or $0.57 per diluted share, for the quarter ended June 30, 2024. "Our Company delivered a record revenue quarter highlighting the strength of our Main Street banking strategy. Organic loan growth during the second quarter cl
- PRTowneBank Announces Quarterly Cash DividendSUFFOLK, Va., May 14, 2025 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ:TOWN) announced today that its Board of Directors declared its second-quarter shareholder cash dividend of $0.27 per common share payable on July 11, 2025, to shareholders of record on June 27, 2025. The quarterly common stock cash dividend of $0.27 per common share, or $1.08 per common share on an annual basis, is an 8% increase from the previous dividend rate. The amount and declaration of future cash dividends are subject to Board of Directors' approval in addition to regulatory restrictions. About TowneBank: Founded in 1999, TowneBank is a company built on relationships, offering a full range of ban
- ANALYSTHovde Group reiterated coverage on Towne Bank with a new price targetHovde Group reiterated coverage of Towne Bank with a rating of Outperform and set a new price target of $39.00 from $38.00 previously
- PRTowneBank Reports First Quarter 2025 EarningsSUFFOLK, Va., April 23, 2025 (GLOBE NEWSWIRE) -- TowneBank (the "Company" or "Towne") (NASDAQ:TOWN) today reported earnings for the quarter ended March 31, 2025 of $50.59 million, or $0.67 per diluted share, compared to $34.69 million, or $0.46 per diluted share, for the quarter ended March 31, 2024. Excluding certain items affecting comparability, core earnings (non-GAAP) were $50.98 million, or $0.68 per diluted share, in the current quarter compared to $36.27 million, or $0.48 per diluted share, for the quarter ended March 31, 2024. "Our Company had a very strong start to the year earning $0.67 per share and delivering nearly 7% annualized loan growth. Our continued focus on measured g
- ANALYSTTowne Bank upgraded by Hovde Group with a new price targetHovde Group upgraded Towne Bank from Market Perform to Outperform and set a new price target of $38.00 from $39.00 previously
TOWN FAQ
7 questionsWhat does TowneBank do?
TowneBank provides retail and commercial banking services for individuals, professionals, and commercial enterprises. The company operates in three segments: Banking, Realty, and Insurance. It accepts various deposits products, 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...Where does TOWN stock trade?
TowneBank (TOWN) is listed on NASDAQ.What sector and industry is TOWN in?
TowneBank operates in the Finance sector, Major Banks industry.Does TOWN pay a dividend?
Yes. TOWN's next ex-dividend date is 2026-06-26 with a declared cash dividend of $0.28 per share, payable 2026-07-10.What are analysts saying about TOWN?
TowneBank has had 8 recent analyst actions on file. The most recent action was from Keefe Bruyette: Mkt Perform with a $3800.00 price target on 2026-05-06. Recent price targets range from $2300.00 to $4100.00.What companies are similar to TOWN?
Notable peers in the same industry include JPM (JP Morgan Chase & Co.), BAC (Bank of America Corporation), WFC (Wells Fargo & Company), C (Citigroup Inc.), UBS (UBS Group AG Registered). Compare TOWN side-by-side with any of them on Quantisnow.How can I track TOWN on Quantisnow?
Quantisnow aggregates TowneBank's SEC filings, analyst ratings, insider transactions, FDA approvals, and press releases the moment they hit the wire (Wall Street's wire, on your screen.). Follow TOWN to receive live email and push alerts on every new disclosure.