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Last $15.76 USD
Change Today -0.13 / -0.82%
Volume 97.6K
TOWN On Other Exchanges
Symbol
Exchange
NASDAQ GS
Berlin
As of 5:20 PM 05/29/15 All times are local (Market data is delayed by at least 15 minutes).

towne bank (TOWN) Snapshot

Open
$15.81
Previous Close
$15.89
Day High
$16.01
Day Low
$15.71
52 Week High
04/29/15 - $16.90
52 Week Low
09/8/14 - $12.93
Market Cap
807.7M
Average Volume 10 Days
92.5K
EPS TTM
$1.29
Shares Outstanding
51.3M
EX-Date
06/26/15
P/E TM
12.2x
Dividend
$0.48
Dividend Yield
2.79%
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, negotiable order of withdrawal accounts, savings accounts, money rate savings, time deposits, demand deposits, daily money market accounts, long-term certificates of deposit, and individual retirement accounts. 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.

1,344 Employees
Last Reported Date: 03/13/15
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

TowneBank Declares Second-Quarter Cash Dividend, Payable on July 10, 2015

TowneBank announced that its Board of Directors declared its second-quarter shareholder cash dividend of $0.12 per common share, payable on July 10, 2015 to shareholders of record on June 30, 2015. The quarterly common stock cash dividend of $0.12 per common share, or $0.48 per common share on an annual basis, is a 9.1% increase from the previous dividend rate.

Towne Bank Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015

Towne Bank announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, reported record earnings of $14.54 million, a 30.61% increase, or $3.41 million, over the $11.13 million reported for the comparative period in 2014. Fully diluted earnings per share were $0.29 per share compared to $0.31 per share for the comparative period of 2014. Tangible book value ended the quarter at $11.73 compared to $11.00 in the 2014 comparative period and $11.09 in the linked quarter. Total revenues were $72.37 million, an increase of $14.45 million, or 24.95%, compared to the first quarter of 2014. Return on average assets of 1.01%, increased from 0.96% for first quarter 2014. Net interest income increased to $43.56 million, an $8.36 million, or 23.77%, increase from the first quarter of 2014. The primary driver of the increase was the significant increase in earning assets from the Franklin merger along with the restructuring of the Franklin balance sheet. On a linked quarter basis, net interest income increased $6.42 million or 17.28%, in first quarter 2015 versus the fourth quarter of 2014. Income before income tax and noncontrolling interest was $21,610,000 compared to $16,510,000 a year ago. Basic and diluted earnings per share were $0.29 compared to $0.31 a year ago. Book value per common share was $15.22 compared to $14.38 a year ago. Return on average assets – tangible was 1.08% compared to 0.99% a year ago. Return on average equity was 7.54% compared to 7.63% a year ago. Return on average equity – tangible was 10.27% compared to 9.57% a year ago.

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.

 

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TOWN:US $15.76 USD -0.13

TOWN Competitors

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Company Last Change
BNC Bancorp $18.56 USD -0.19
Bryn Mawr Bank Corp $28.88 USD -0.19
CenterState Banks Inc $12.39 USD -0.17
Fidelity Southern Corp $15.46 USD -0.04
Lakeland Bancorp Inc $11.43 USD -0.18
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Industry Analysis

TOWN

Industry Average

Valuation TOWN Industry Range
Price/Earnings 13.7x
Price/Sales 3.1x
Price/Book 1.0x
Price/Cash Flow 10.5x
TEV/Sales NM Not Meaningful
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