Last $15.45 USD
Change Today +0.06 / 0.39%
Volume 60.9K
TOWN On Other Exchanges
Symbol
Exchange
Berlin
As of 8:10 PM 03/4/15 All times are local (Market data is delayed by at least 15 minutes).

towne bank (TOWN) Snapshot

Open
$15.37
Previous Close
$15.39
Day High
$15.46
Day Low
$15.35
52 Week High
07/15/14 - $16.70
52 Week Low
09/8/14 - $12.93
Market Cap
791.9M
Average Volume 10 Days
124.2K
EPS TTM
$1.30
Shares Outstanding
51.3M
EX-Date
03/26/15
P/E TM
11.9x
Dividend
$0.44
Dividend Yield
2.78%
Current Stock Chart for TOWNE BANK (TOWN)

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towne bank (TOWN) Details

TowneBank, through its subsidiaries, provides retail and commercial banking services for individuals, and small and medium-size businesses in southeastern Virginia and northeastern North Carolina. The company operates in three segments: Banking, Realty, and Insurance. It accepts various deposits products, including checking accounts, checking accounts, demand deposits, money rate savings, negotiable order of withdrawal accounts, individual retirement accounts, savings accounts, money market accounts, and certificates of deposit. The company also offers personal loans for financing automobiles, home improvements, education, and personal investments; commercial loans for working capital, business expansion, and equipment and machinery purchases; fixed- and floating-rate mortgage loans; and real estate construction and acquisition loans. It also provides safe deposit boxes, cash management services, travelers’ checks, direct deposit of payroll and social security checks, and automatic drafts for various accounts, as well as Internet, mobile, and on-call banking services. In addition, the company offers documentation to accomplish tax deferral to investors; asset management and commercial mortgage brokerage services; and other financial services, such as financial, retirement, and estate planning services, as well as assistance on various investment options consisting of alternative investments, annuities, margin accounts, convertible bonds, and pension and profit sharing plans. Further, it provides residential real estate, resort property management, and commercial residential title insurance services; and originates various mortgage loans. Additionally, the company offers life, property, casualty, and vehicle insurance services; travel, medical, and baggage protection insurance for travelers; and employee benefit programs, such as medical, dental, vision, and disability insurance. The company was founded in 1998 and is based in Portsmouth, Virginia.

Founded in 1998

towne bank (TOWN) Top Compensated Officers

Chairman of the Board, Chief Executive Office...
Total Annual Compensation: $875.0K
President, Chief Banking Officer and Director
Total Annual Compensation: $500.0K
Chief Financial officer and Senior Executive ...
Total Annual Compensation: $345.0K
Director, Chairman of Townebank Mortgage and ...
Total Annual Compensation: $768.8K
Director, Chief Executive Officer of Towne Fi...
Total Annual Compensation: $414.3K
Compensation as of Fiscal Year 2013.

towne bank (TOWN) Key Developments

Towne Bank Declares First Quarter Cash Dividend, Payable on April 10, 2015

Towne Bank announced that its Board of Directors on February 27, 2015 declared its first-quarter shareholder cash dividend of $0.11 per common share payable on April 10, 2015 to shareholders of record on March 30, 2015.

Towne Bank Presents at Sterne Agee Financial Institutions Investor Conference 2015, Feb-11-2015

Towne Bank Presents at Sterne Agee Financial Institutions Investor Conference 2015, Feb-11-2015 . Venue: Boca Raton Resort & Club, 501 East Camino Real, Boca Raton, FL 33432, United States.

Towne Bank Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Reports Net Loan Charge-Offs for the Fourth Quarter of 2014

Towne Bank reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported total interest income of $43,843,000 compared to $43,101,000 a year ago. Net interest income was $37,139,000 compared to $36,456,000 a year ago. Income before income tax expense & non-controlling interest was $10,582,000 compared to $13,682,000 a year ago. Net income available to common shareholders was $7,044,000 or $0.20 per basic and diluted share compared to $9,483,000 or $0.27 per basic and diluted share a year ago. Return on average assets was 0.57% compared to 0.82% a year ago. Return on average equity was 4.62% compared to 6.57% a year ago. The primary driver of the increase in net interest income was growth in average earning assets of $333.31 million, which was partially offset by an 18 basis point narrowing of the tax-equivalent net interest margin to 3.35% in the current quarter from 3.53% in fourth quarter 2013. The decrease in earnings was driven by an increase in noninterest expenses of $5.57 million primarily caused by acquisition-related expenses from the merger with Franklin and the previously discussed severance costs. For the year, the company reported total interest income of $172,512,000 compared to $170,290,000 a year ago. Net interest income was $145,736,000 compared to $143,895,000 a year ago. Income before income tax expense & non-controlling interest was $63,109,000 compared to $61,383,000 a year ago. Net income available to common shareholders was $41,404,000 or $1.18 per basic and diluted share compared to $37,535,000 or $1.14 per basic and diluted share a year ago. Book value per common share – tangible as at December 31, 2014 was $11.09 compared to $10.76 a year ago. Return on average assets was 0.87% compared to 0.93% a year ago. Return on average equity was 6.95% compared to 7.27% a year ago. For the fourth quarter of 2014, the company reported net loans charged off of $261,000 compared to $732,000 a year ago.

 

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TOWN:US $15.45 USD +0.06

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Industry Analysis

TOWN

Industry Average

Valuation TOWN Industry Range
Price/Earnings 13.0x
Price/Sales 2.2x
Price/Book 1.0x
Price/Cash Flow 11.0x
TEV/Sales NM Not Meaningful
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