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Hot Stocks
TowneBank raises quarterly cash dividend to 23c per share » 14:17
05/25/22
05/25
14:17
05/25/22
14:17
TOWN

TowneBank

$28.40 /

-0.24 (-0.84%)

TowneBank announced that…

TowneBank announced that its board of directors on May 24 declared its second-quarter shareholder cash dividend of 23c per common share payable on July 12 to shareholders of record on June 30. The quarterly common stock cash dividend of 23c per common share, or 92c per common share on an annual basis, is a 15% increase from the previous dividend rate, the company stated.

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TOWN TowneBank
$28.40 /

-0.24 (-0.84%)

TOWN TowneBank
$28.40 /

-0.24 (-0.84%)

Earnings
TowneBank reports Q1 EPS 63c, consensus 58c » 08:36
04/28/22
04/28
08:36
04/28/22
08:36
TOWN

TowneBank

$28.05 /

-0.005 (-0.02%)

Reports Q1 revenue…

Reports Q1 revenue $165.41M, consensus $161.81M. Total assets were $16.67 billion for the quarter ended March 31, 2022, an increase of $1.59 billion, or 10.53%, from $15.08 billion at March 31, 2021. Total assets increased $0.31 billion, or 1.87%, from the linked quarter. The year-over-year increase was driven by increases in securities and loans held for investment. Common equity tier 1 capital ratio of 12.16%. Book value per common share was $25.61 compared to $26.13 at December 31, 2021 and $24.78 at March 31, 2021. Tangible book value per common share was $18.67 compared to $19.15 at December 31, 2021 and $17.94 at March 31, 2021."TowneBank had a strong start to the year despite the expected revenue decline in our real estate segment as well as a reduction in revenue associated with the forgiveness of Paycheck Protection Program loans. With core annualized loan growth of over 20%, spread across all of our markets, combined with the continued deployment of excess liquidity, we expect the increase in short-term rates will result in improvements in net interest income and margin through the rest of 2022. Credit metrics remained excellent and we strengthened our balance sheet ahead of rising rates by completing a sub debt offering at attractive rates in early February," said G. Robert Aston, Jr., Executive Chairman.

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TOWN TowneBank
$28.05 /

-0.005 (-0.02%)

TOWN TowneBank
$28.05 /

-0.005 (-0.02%)

Over a quarter ago
Hot Stocks
TowneBank announces CEO Davis plans to retire in 2022 » 08:48
01/27/22
01/27
08:48
01/27/22
08:48
TOWN

TowneBank

$32.21 /

-0.37 (-1.14%)

TowneBank announced that…

TowneBank announced that J. Morgan Davis, a founding member of the Company and current Chief Executive Officer, plans to retire in 2022. In order to ensure a smooth and orderly transition process, Davis intends to remain in his current position until the appointment of his successor and will help with the transition as necessary, after which he will serve as a senior advisor to the Company. The company also reported that Mr. Aston has re-affirmed his intent to continue to serve as Executive Chairman of the company for the remaining three-year term of his employment agreement.

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TOWN TowneBank
$32.21 /

-0.37 (-1.14%)

TOWN TowneBank
$32.21 /

-0.37 (-1.14%)

02/03/21 Piper Sandler
TowneBank upgraded to Overweight from Neutral at Piper Sandler
TOWN TowneBank
$32.21 /

-0.37 (-1.14%)

Earnings
TowneBank reports Q4 EPS 55c, consensus 61c » 08:34
01/27/22
01/27
08:34
01/27/22
08:34
TOWN

TowneBank

$32.21 /

-0.37 (-1.14%)

Reports Q4 revenue…

Reports Q4 revenue $160.42M, consensus $159.62M. Book value per share was $26.13, an increase of 7.47% over prior year. Tangible book value per share was $19.15, compared to $17.46 in 2020, an increase of 9.65%. Common equity tier 1 capital ratio of 12.36%. "We were pleased with our performance for 2021, highlighted by our 22nd year of increased earnings. We achieved record financial results with total revenues surpassing $680 million for the year, which illustrates the value of Towne's diversified business model. Credit quality remained excellent and strong deposit growth across all markets was a bright spot for the year, leading the way for TowneBank to maintain the #1 market share position for our home market in Hampton Roads. These accomplishments were the result of the hard work and dedication from our nearly 2,900 team members who embrace and define our culture of caring each day," said G. Robert Aston, Jr., Executive Chairman.

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TOWN TowneBank
$32.21 /

-0.37 (-1.14%)

TOWN TowneBank
$32.21 /

-0.37 (-1.14%)

02/03/21 Piper Sandler
TowneBank upgraded to Overweight from Neutral at Piper Sandler
TOWN TowneBank
$32.21 /

-0.37 (-1.14%)

Earnings
TowneBank reports Q3 EPS 69c, consensus 67c » 08:47
10/28/21
10/28
08:47
10/28/21
08:47
TOWN

TowneBank

$30.49 /

-1.19 (-3.76%)

Reports Q3 revenue…

Reports Q3 revenue $170.08M, consensus $161.69M. "TowneBank had another successful quarter highlighted by solid organic loan growth despite headwinds from historically low levels of line utilization. Our credit quality metrics are excellent, and our Company is poised to capitalize on growth opportunities across our markets. The strong momentum in our fee-based businesses continued during the quarter as we explore additional strategies to accelerate noninterest income growth," said G. Robert Aston, Jr., Executive Chairman.

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TOWN TowneBank
$30.49 /

-1.19 (-3.76%)

TOWN TowneBank
$30.49 /

-1.19 (-3.76%)

02/03/21 Piper Sandler
TowneBank upgraded to Overweight from Neutral at Piper Sandler
TOWN TowneBank
$30.49 /

-1.19 (-3.76%)

Hot Stocks
TowneBank appoints Brad Schwartz as president, COO » 08:42
07/30/21
07/30
08:42
07/30/21
08:42
TOWN

TowneBank

$30.24 /

+0.1 (+0.33%)

TowneBank announced that…

TowneBank announced that its Board of Directors has elected Brad Schwartz as President and COO succeeding J. Morgan Davis who will continue to serve as CEO of the Company.

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TOWN TowneBank
$30.24 /

+0.1 (+0.33%)

02/03/21 Piper Sandler
TowneBank upgraded to Overweight from Neutral at Piper Sandler
08/03/20 Piper Sandler
TowneBank resumed with a Neutral at Piper Sandler
TOWN TowneBank
$30.24 /

+0.1 (+0.33%)

Earnings
TowneBank reports Q2 EPS 77c, consensus 68c » 08:34
07/29/21
07/29
08:34
07/29/21
08:34
TOWN

TowneBank

$30.12 /

+0.37 (+1.24%)

Reports Q2 revenue…

Reports Q2 revenue $167.32M, consensus $167.46M. Common equity tier 1 capital ratio of 12.42%; tier 1 leverage capital ratio of 9.44%; and tier 1 risk-based capital ratio of 12.57%. Book value per common share was $25.51 compared to $24.78 at March 31, 2021 and $23.50 at June 30, 2020 "Towne delivered another strong financial performance for the quarter with solid contributions across each of our business segments. Continued improvements in economic conditions led to an increase of nearly $50 million, or 16%, in total revenues. In fact, CNBC recently recognized Virginia and North Carolina as the #1 and #2 top states, respectively, in our country for doing business. As our economy continues to normalize, our Company is well-positioned to capitalize on the opportunities to drive future growth," said G. Robert Aston, Jr., Executive Chairman.

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TOWN TowneBank
$30.12 /

+0.37 (+1.24%)

02/03/21 Piper Sandler
TowneBank upgraded to Overweight from Neutral at Piper Sandler
08/03/20 Piper Sandler
TowneBank resumed with a Neutral at Piper Sandler
TOWN TowneBank
$30.12 /

+0.37 (+1.24%)

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