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Towne Bank

Towne Bank

TOWN · NASDAQ · Financial Services / Banks - Regional

36.76USD+0.17 (+0.46%)

Price History

Full chart

Market Stats

Previous Close36.59
Open36.75
Day Range36.60 – 36.95
52-Week Range30.31 – 38.72
Volume365.76K
Market Cap3.34B
P/E (TTM)17.43
Forward P/E12.55
EPS2.07
Dividend Yield3.03%
Beta0.69
50-Day Avg37.30
200-Day Avg35.51

About

TowneBank provides retail and commercial banking services for individuals, commercial enterprises, and professionals in the United States. It operates through four segments: Banking, Mortgage, Resort Vacation Management, and Insurance. The company provides treasury solutions and deposit products, including checking accounts, savings accounts, and various types of time deposit services, such as daily money market accounts and long-term certificates of deposit; transaction accounts and certificates of deposit; and retirement account services comprising individual retirement accounts. It also offers safe deposit boxes, treasury management services, direct deposit of payroll and social security checks, and automatic drafts for various accounts; secured and unsecured loans for financing automobiles, home improvements, education, and personal investments; and secured and unsecured loans for working capital, business expansion, equipment and machinery purchases, fixed- and floating-rate mortgage loans, and larger commercial loans, as well as real estate acquisition, development, and construction loans. In addition, the company can act as a qualified intermediary assisting investors; provides other financial services, such as financial, retirement, and estate planning; and offers assistance on a various investment option, including alternative investments, annuities, margin accounts, convertible bonds, and pension and profit-sharing plans. Further, it provides residential mortgage loans; residential resort property management; property, casualty, life, and health insurance products for businesses, individuals, and community organizations; and commercial and consumer insurance products and financial services, as well as individual and group life and health insurance. Additionally, the company offers online banking, mobile banking, and on-call banking. TowneBank was incorporated in 1998 and is based in Portsmouth, Virginia.

Company Details

  • SectorFinancial Services
  • IndustryBanks - Regional
  • CEOMr. William I. Foster III
  • Employees2.93K
  • Headquarters5716 High Street, Portsmouth, VA, United States, 23703, USA
  • Websitehttps://www.townebank.com

Leadership

  • Mr. G. Robert Aston Jr.Executive Chairman · b. 1945
  • Mr. William I. Foster IIICEO, President & Director · b. 1956
  • Mr. William B. Littreal CPASenior Executive VP & CFO · b. 1970
  • Mr. Ernest S. PiccioliSenior Executive VP & Chief Risk Officer · b. 1967
  • Mr. William T. MorrisonDirector · b. 1963
  • Mr. Steven W. JonesPresident of the Carolinas & Director · b. 1969
  • Mr. R. Lee ClarkSenior Executive VP & COO · b. 1968
  • Mr. Kevin L. FlySenior EVP & Chief Accounting Officer · b. 1966
  • Mr. Varun ChandhokSenior EVP & Chief Information Officer · b. 1973
  • Mr. George P. Whitley J.D.Senior Executive VP & Chief Legal Officer · b. 1953

Financials

Income Statement

Currency: USD2000-12-312001-12-312002-12-312003-12-312004-12-312005-12-312006-12-312007-12-312008-12-312009-12-312010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Revenue6.58M9.48M52.17M57.58M80.89M123.57M160.16M192.75M194.72M223.82M234.54M239.80M257.17M260.26M268.83M329.62M408.93M492.39M612.75M672.71M742.25M720.08M742.95M942.55M1.02B1.01B
Growth (%)-+44.15%+450.33%+10.38%+40.48%+52.76%+29.61%+20.35%+1.02%+14.95%+4.79%+2.24%+7.24%+1.20%+3.29%+22.61%+24.06%+20.41%+24.44%+9.79%+10.34%-2.99%+3.18%+26.87%+8.69%-1.61%
Cost of Revenue1.38M20.16M18.80M18.19M19.78M29.40M51.87M73.17M70.75M73.63M69.13M49.85M45.38M30.64M27.27M35.46M41.10M49.41M89.29M118.84M147.19M24.31M65.18M266.14M331.38M306.59M
Gross Profit5.20M-10.68M33.36M39.39M61.11M94.17M108.29M119.58M123.97M150.19M165.42M189.94M211.79M229.61M241.56M294.16M367.83M442.98M523.46M553.87M595.06M695.77M677.77M676.41M692.51M701.33M
Gross Margin79.09%-112.68%63.96%68.40%75.55%76.21%67.61%62.04%63.67%67.10%70.53%79.21%82.36%88.23%89.86%89.24%89.95%89.97%85.43%82.33%80.17%96.62%91.23%71.76%67.60%69.58%
Operating Expense14.02M-13.65M25.25M29.10M43.62M66.95M76.04M85.50M91.26M111.79M122.04M144.41M158.22M168.23M178.45M201.62M266.92M295.38M351.46M377.60M393.72M415.94M440.72M490.19M502.13M491.11M
Operating Income-8.82M2.97M8.11M10.29M17.49M27.22M32.25M34.08M32.72M38.40M43.38M45.53M53.57M61.38M63.11M92.54M100.91M147.60M172.00M176.27M201.33M279.83M237.05M186.22M190.38M210.22M
Operating Margin-134.11%31.35%15.55%17.87%21.63%22.03%20.13%17.68%16.80%17.16%18.49%18.99%20.83%23.59%23.48%28.08%24.68%29.98%28.07%26.20%27.12%38.86%31.91%19.76%18.58%20.86%
EBITDA1.22M2.97M9.75M13.72M23.76M34.13M38.06M41.23M41.89M48.14M53.16M56.52M65.14M73.89M77.01M108.69M121.47M172.10M200.72M205.64M230.39M308.63M265.75M220.44M225.55M250.44M
EBITDA Margin18.52%31.35%18.69%23.82%29.38%27.62%23.76%21.39%21.51%21.51%22.66%23.57%25.33%28.39%28.65%32.97%29.70%34.95%32.76%30.57%31.04%42.86%35.77%23.39%22.02%24.85%
Net Income1.22M2.64M5.50M6.62M11.28M17.68M21.79M23.26M23.89M26.76M30.28M33.32M37.93M41.76M42.17M62.38M67.25M87.66M133.79M138.78M145.53M215.38M188.99M153.72M161.76M169.53M
Net Income Margin18.52%27.82%10.55%11.50%13.95%14.31%13.60%12.07%12.27%11.96%12.91%13.90%14.75%16.05%15.69%18.93%16.45%17.80%21.83%20.63%19.61%29.91%25.44%16.31%15.79%16.82%
Interest Expense018.03M16.16M15.43M17.17M27.04M49.30M70.42M63.72M60.74M46.56M36.25M29.22M26.39M26.78M32.43M35.74M43.98M80.75M109.47M80.02M41.08M56.57M247.46M331.92M282.65M
Interest Expense % of Total Revenue0.00%190.18%30.98%26.80%21.23%21.88%30.78%36.54%32.73%27.14%19.85%15.12%11.36%10.14%9.96%9.84%8.74%8.93%13.18%16.27%10.78%5.71%7.61%26.25%32.40%28.04%

Balance Sheet

Currency: USD2000-12-312001-12-312002-12-312003-12-312004-12-312005-12-312006-12-312007-12-312008-12-312009-12-312010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Assets384.82M559.51M763.90M931.87M1.45B1.80B2.19B2.50B3.13B3.61B3.87B4.08B4.41B4.67B4.98B6.30B7.97B8.52B11.16B11.95B14.63B16.36B15.85B16.84B17.25B19.69B
Total Liabilities347.76M518.35M693.06M851.23M1.26B1.59B1.96B2.24B2.71B3.14B3.37B3.56B3.85B4.09B4.36B5.48B6.89B7.38B9.62B10.29B705.09M405.02M252.09M14.78B15.09B17.26B
Total Equity37.06M41.16M70.84M80.64M188.52M211.99M230.02M256.86M419.67M457.62M492.33M514.19M552.91M576.31M608.94M810.92M1.08B1.13B1.53B1.64B13.92B15.96B15.59B2.04B2.14B2.42B
Cash-17.42M39.38M31.29M35.57M54.66M50.77M69.33M69.75M64.72M150.48M314.14M129.29M204.79M214.00M251.84M136.55M521.19M686.70M442.62M1.86B3.30B1.15B1.13B1.34B253.49M
Total Debt-55.70M60.20M79.56M121.71M95.36M219.51M708.32M441.00M526.12M358.72M305.53M392.05M442.75M430.07M466.51M720.05M798.97M1.09B772.54M923.78M629.51M600.75M492.58M296.90M371.14M
Net Debt-38.28M20.82M48.27M86.14M40.70M168.73M638.98M371.26M461.39M208.24M-8.61M262.76M237.95M216.07M214.68M583.50M277.78M407.64M329.92M-1.16B-2.89B-875.74M-635.78M-1.04B117.64M

Cash Flow

Currency: USD2001-12-312002-12-312003-12-312004-12-312005-12-312006-12-312007-12-312008-12-312009-12-312010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Operating Cash Flow-16.71M-13.54M47.08M13.29M30.09M69.20M19.46M34.99M-21.44M45.49M5.62M40.34M115.54M44.52M81.09M185.04M141.08M317.60M-16.04M127.89M518.82M415.50M161.30M138.36M261.47M
Investing Cash Flow-173.99M-158.16M-219.41M-191.14M-309.19M-416.85M-281.10M-616.13M-418.86M-32.62M-7.86M-496.46M-262.34M-282.89M-98.47M-500.59M-209.38M-646.86M-779.62M-1.12B-547.36M-37.76M-335.68M-202.77M-386.89M
Financing Cash Flow168.46M196.29M161.61M183.35M311.88M329.69M279.38M601.56M415.27M72.89M165.90M271.27M222.30M247.58M55.22M200.79M452.94M494.76M525.23M2.41B1.46B-512.10M149.90M275.53M136.60M
Capital Expenditure010.35M13.77M13.77M13.15M7.95M13.04M9.06M16.82M26.64M27.30M20.61M19.17M11.93M23.32M18.05M13.45M20.85M36.72M45.79M31.20M52.29M44.13M57.27M49.80M
Free Cash Flow-16.71M-23.90M33.31M-484.00K16.94M61.25M6.42M25.93M-38.26M18.84M-21.68M19.73M96.37M32.59M57.77M166.98M127.63M296.75M-52.75M82.10M487.62M363.22M117.17M81.09M211.67M
Dividends Paid--508.00K1.04M2.89M5.42M12.94M9.26M16.30M17.61M17.35M19.79M13.54M16.04M21.98M30.54M34.44M44.86M49.38M52.24M55.29M62.75M71.38M75.02M79.30M
FCF to OCF100.00%176.44%70.75%-3.64%56.30%88.51%32.97%74.10%178.47%41.43%-385.65%48.91%83.41%73.21%71.25%90.24%90.47%93.44%328.98%64.20%93.99%87.42%72.64%58.61%80.95%
Dividend Paid to FCF--1.53%-215.70%17.07%8.85%201.67%35.70%-42.60%93.45%-80.01%100.33%14.05%49.21%38.05%18.29%26.98%15.12%-93.60%63.63%11.34%17.28%60.92%92.51%37.46%

Earnings

Report DateMar 31, 2005Jun 30, 2005Sep 30, 2005Dec 31, 2005Mar 31, 2006Jun 30, 2006Sep 30, 2006Dec 31, 2006Mar 31, 2007Jun 30, 2007Sep 30, 2007Dec 31, 2007Mar 31, 2008Jul 16, 2008Oct 14, 2008Jan 30, 2009Apr 27, 2009Jul 23, 2009Nov 5, 2009Jan 28, 2010Apr 22, 2010Jul 29, 2010Nov 9, 2010Jan 31, 2011May 5, 2011Jul 28, 2011Oct 28, 2011Jan 31, 2012May 3, 2012Jul 26, 2012Oct 24, 2012Feb 1, 2013Apr 25, 2013Jul 26, 2013Oct 25, 2013Feb 4, 2014Apr 24, 2014Jul 23, 2014Oct 23, 2014Feb 2, 2015Apr 27, 2015Jul 24, 2015Oct 22, 2015Jan 29, 2016Apr 28, 2016Jul 28, 2016Oct 27, 2016Jan 26, 2017Apr 27, 2017Jul 27, 2017Oct 26, 2017Jan 25, 2018Apr 25, 2018Jul 26, 2018Oct 25, 2018Jan 24, 2019Apr 25, 2019Jul 25, 2019Oct 24, 2019Jan 23, 2020Apr 27, 2020Jul 23, 2020Oct 22, 2020Jan 28, 2021Apr 29, 2021Jul 29, 2021Oct 28, 2021Jan 27, 2022Apr 28, 2022Jul 28, 2022Oct 27, 2022Jan 26, 2023Apr 27, 2023Jul 27, 2023Oct 26, 2023Jan 24, 2024Apr 24, 2024Jul 24, 2024Oct 23, 2024Jan 22, 2025Apr 23, 2025Jul 23, 2025Oct 22, 2025Jan 28, 2026Apr 22, 2026Jul 22, 2026Oct 28, 2026
EPS Estimate-------------------0.130.130.130.120.08--0.130.19--0.270.250.260.280.290.290.290.310.340.310.310.330.320.300.300.350.390.310.380.400.420.360.450.490.530.530.490.520.510.430.350.250.460.520.600.660.650.590.570.610.670.710.670.570.490.470.480.480.560.480.610.650.760.710.760.760.81
EPS Actual0.170.170.170.190.180.220.210.240.210.230.220.220.230.230.230.160.130.150.180.170.190.160.170.180.200.170.170.220.250.260.260.270.290.310.280.270.310.330.340.200.290.240.340.240.350.360.400.300.350.400.440.370.460.490.540.490.440.480.520.490.360.440.460.690.940.770.690.550.630.640.700.650.620.520.600.420.480.570.580.550.680.810.830.700.740.78-
Surprise-------------------30.77%46.15%23.08%41.67%125.00%--30.77%15.79%---3.70%8.00%11.54%10.71%-3.45%-6.90%6.90%6.45%0.00%-35.48%-6.45%-27.27%6.25%-20.00%16.67%2.86%2.56%-3.23%-7.89%0.00%4.76%2.78%2.22%0.00%1.89%-7.55%-10.20%-7.69%1.96%13.95%2.86%76.00%0.00%32.69%56.67%16.67%6.15%-6.78%10.53%4.92%4.48%-8.45%-7.46%-8.77%22.45%-10.64%0.00%18.75%3.57%14.58%11.48%24.62%9.21%-1.41%-2.63%2.63%-
Timing-------------------After-hoursAfter-hoursAfter-hoursPre-marketAfter-hours--After-hoursAfter-hours--After-hoursPre-marketAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hours-

Key Statistics & Ratios

Market Cap3.34B
Enterprise Value3.54B
Trailing P/E17.43
Forward P/E12.55
PEG Ratio0.00
Price / Sales2.99
Price / Book1.15
EPS2.07
Book Value32.80
Revenue (TTM)1.12B
Gross Profit (TTM)1.12B
Profit Margin28.56%
Operating Margin61.04%
Return on Equity12.22%
Return on Assets1.57%
Shares Outstanding92.44M
Shares Float85.66M
Beta0.69
Dividend Yield3.03%
Dividend Rate1.10
Payout Ratio50.16%

Analyst Ratings

Buy
Based on 4 analystsTarget 40.00
  • Strong Buy
    1
  • Buy
    2
  • Hold
    1

Ownership Breakdown

Institutions
63.50%
Insiders
5.71%
Retail / Other
30.79%

Top Institutional Holders

  • BlackRock Inc
    6.24M6.75%
  • Vanguard Portfolio Management, LLC
    4.88M5.28%
  • T. Rowe Price Investment Management,Inc.
    4.60M4.97%
  • Dimensional Fund Advisors, Inc.
    4.53M4.90%
  • Vanguard Capital Management, LLC
    3.90M4.21%
  • State Street Corp
    2.56M2.77%
  • Geode Capital Management, LLC
    2.19M2.37%
  • Victory Capital Management Inc.
    1.94M2.10%
  • Brown Advisory Holdings Inc
    1.54M1.67%
  • HHG PLC
    1.31M1.42%
  • Capital Research & Mgmt Co - Division 3
    1.14M1.23%
  • Patriot Financial Partners GP II, LP
    1.02M1.10%
  • FJ Capital Management LLC
    1.01M1.09%

Top Fund Holders

  • Vanguard MStar Total Stk Mkt Idx Invest
    2.80M3.03%
  • T. Rowe Price Small-Cap Value
    2.52M2.73%
  • iShares Russell 2000 ETF
    2.25M2.44%
  • Vanguard Small Cap Index
    2.02M2.18%
  • Victory Sycamore Small Company Opp R
    1.45M1.56%
  • Vanguard MStar Small Cap Value Index
    1.28M1.39%
  • American Funds SMALLCAP World A
    1.11M1.20%

Dividends

20264×
0.28Sep 25, 20260.28Jun 26, 20260.70May 4, 20260.27Mar 31, 2026
20254×
0.27Dec 26, 20250.27Sep 29, 20250.27Jun 27, 20250.25Mar 31, 2025
20244×
0.25Dec 31, 20240.25Sep 30, 20240.25Jun 28, 20240.25Mar 27, 2024
20234×
0.25Dec 28, 20230.25Sep 28, 20230.25Jun 29, 20230.23Mar 29, 2023
20224×
0.23Dec 29, 20220.23Sep 29, 20220.23Jun 29, 20220.20Mar 29, 2022
20214×
0.20Dec 29, 20210.20Sep 29, 20210.20Jun 29, 20210.18Mar 29, 2021

Stock Splits

  • May 23, 2012103:100
  • Aug 24, 2005103:100
  • Jun 18, 20043:2
  • Feb 26, 20022:1