Towne Bank Q2 Adj $0.57 Beats $0.48 Estimate, Sales $174.97M Beat $172.27M Estimate

7/24/24 4:53:36 PM ET

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Towne Bank (NASDAQ:TOWN) reported quarterly earnings of $0.57 per share which beat the analyst consensus estimate of $0.48 by 18.75 percent. This is a 9.62 percent increase over earnings of $0.52 per share from the same period last year. The company reported quarterly sales of $174.97 million which beat the analyst consensus estimate of $172.27 million by 1.57 percent. This is a 3.63 percent decrease over sales of $181.57 million the same period last year.

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Recent Analyst Ratings for
$TOWN

Date	Price Target	Rating	Analyst
10/2/2024	$35.00 → $40.00	Mkt Perform → Outperform	Keefe Bruyette
9/13/2023	$23.00	Equal-Weight	Stephens
8/11/2023	$27.00	Market Perform	Hovde Group
3/3/2023	$34.00	Outperform	Raymond James
2/17/2023	$34.00	Overweight	Piper Sandler

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TowneBank Reports Third Quarter 2024 Earnings
SUFFOLK, Va., Oct. 23, 2024 (GLOBE NEWSWIRE) -- TowneBank (the "Company" or "Towne") (NASDAQ:TOWN) today reported earnings for the quarter ended September 30, 2024 of $42.95 million, or $0.57 per diluted share, compared to $44.86 million, or $0.60 per diluted share, for the quarter ended September 30, 2023. Excluding certain items affecting comparability, core earnings (non-GAAP) were $43.39 million, or $0.58 per diluted share, in the current quarter compared to $44.88 million, or $0.60 per diluted share, for the quarter ended September 30, 2023. "Our third quarter results continued to deliver increased net interest income and noninterest income contributions from our divers
10/23/24 4:30:00 PM ET
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TowneBank and Village Bank and Trust Financial Corp. Announce Agreement to Merge
SUFFOLK, Va. and MIDLOTHIAN, Va., Sept. 24, 2024 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ:TOWN) and Village Bank and Trust Financial Corp. (NASDAQCM: VBFC) ("Village"), the parent company of Village Bank, today announced the signing of a definitive agreement and plan of reorganization pursuant to which TowneBank will acquire Village and Village Bank. The proposed transaction will enhance TowneBank's continued and growing presence in the Richmond MSA while providing opportunity for diverse revenue synergies with Towne Financial Services Group and strategic capital deployment. "Our TowneBank family is humbled and excited to partner with Village Bank and its team members,"
9/24/24 8:00:00 AM ET
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TowneBank Announces Quarterly Cash Dividend
SUFFOLK, Va., Aug. 28, 2024 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ:TOWN) announced today that its Board of Directors declared its third-quarter shareholder cash dividend of $0.25 per common share payable on October 11, 2024, to shareholders of record on September 30, 2024. 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
8/28/24 2:00:00 PM ET
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TowneBank Reports Third Quarter 2024 Earnings
SUFFOLK, Va., Oct. 23, 2024 (GLOBE NEWSWIRE) -- TowneBank (the "Company" or "Towne") (NASDAQ:TOWN) today reported earnings for the quarter ended September 30, 2024 of $42.95 million, or $0.57 per diluted share, compared to $44.86 million, or $0.60 per diluted share, for the quarter ended September 30, 2023. Excluding certain items affecting comparability, core earnings (non-GAAP) were $43.39 million, or $0.58 per diluted share, in the current quarter compared to $44.88 million, or $0.60 per diluted share, for the quarter ended September 30, 2023. "Our third quarter results continued to deliver increased net interest income and noninterest income contributions from our divers
10/23/24 4:30:00 PM ET
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TowneBank Announces Quarterly Cash Dividend
SUFFOLK, Va., Aug. 28, 2024 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ:TOWN) announced today that its Board of Directors declared its third-quarter shareholder cash dividend of $0.25 per common share payable on October 11, 2024, to shareholders of record on September 30, 2024. 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
8/28/24 2:00:00 PM ET
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TowneBank Reports Second Quarter 2024 Earnings
SUFFOLK, Va., July 24, 2024 (GLOBE NEWSWIRE) -- TowneBank (the "Company" or "Towne") (NASDAQ:TOWN) today reported earnings for the quarter ended June 30, 2024 of $42.86 million, or $0.57 per diluted share, compared to $41.72 million, or $0.56 per diluted share, for the quarter ended June 30, 2023. Excluding certain items affecting comparability, core earnings (non-GAAP) were $42.56 million, or $0.57 per diluted share, in the current quarter, an increase of 10.10% compared to $38.66 million, or $0.52 per diluted share, for the quarter ended June 30, 2023. "TowneBank delivered another solid quarter of performance, reflective of the strength of our diversified operating model and conservativ
7/24/24 4:30:00 PM ET
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TowneBank Announces Retirement of Two Directors
SUFFOLK, Va., March 27, 2024 (GLOBE NEWSWIRE) -- TowneBank (NASDAQ:TOWN) announced today that two long-serving members of its Board of Directors, Jacqueline B. Amato and Bradford L. Cherry, will step down from the Board and move to Emeritus status following the 2024 Annual Meeting of Shareholders. Cherry is a founding director of TowneBank, having served as a director since TowneBank's opening in 1999. Amato joined TowneBank in 2000 to lead its successful entry into the residential mortgage lending business and was appointed to the Board that same year. "Jackie and Brad have made an extraordinary contribution to the growth and success of TowneBank," said G. Robert Aston, Jr., TowneBan
3/27/24 2:30:00 PM ET
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TowneBank Announces Retirement and Transition of President and Chief Operating Officer Roles
SUFFOLK, Va., Nov. 23, 2022 (GLOBE NEWSWIRE) -- TowneBank (the "Company" or "Towne") (NASDAQ:TOWN) announced today that Brad E. Schwartz, Towne's president and chief operating officer, will retire from the Company on December 31, 2022. Mr. Schwartz also plans to step down as a director of the Company when his current term expires at the 2023 annual meeting of shareholders. Following his retirement at year end, Mr. Schwartz will serve as a senior advisor through 2025 to ensure a smooth transition of his roles and responsibilities. Mr. Schwartz joined Towne in 2016 as chief operating officer with the merger of Monarch Bank, where he served as chief executive officer since 2009. Mr. Schwartz
11/23/22 11:30:00 AM ET
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TowneBank Announces Retirement of Three Directors
SUFFOLK, Va., April 14, 2022 (GLOBE NEWSWIRE) -- TowneBank (NASDAQ:TOWN) announced today that three long-serving members of its Board of Directors, E. Lee Baynor, Thomas C. Broyles and F. Lewis Wood, will not stand for re-election and will transition to Emeritus status following the 2022 Annual Meeting of Shareholders. "These founding directors have made an extraordinary contribution to the growth and success of TowneBank," said G. Robert Aston, Jr., TowneBank's Executive Chairman. "And while they will be stepping down as corporate directors, they will certainly not be stepping back as they will continue to provide their wise counsel and unwavering support in the years ahead through their
4/14/22 1:30:00 PM ET
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Towne Bank Q2 Adj $0.57 Beats $0.48 Estimate, Sales $174.97M Beat $172.27M Estimate

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Recent Analyst Ratings for
$TOWN

$TOWN
Press Releases

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TowneBank Reports Third Quarter 2024 Earnings

TowneBank and Village Bank and Trust Financial Corp. Announce Agreement to Merge

TowneBank Announces Quarterly Cash Dividend

$TOWN
Financials

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TowneBank Reports Third Quarter 2024 Earnings

TowneBank Announces Quarterly Cash Dividend

TowneBank Reports Second Quarter 2024 Earnings

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