TowneBank
Relationship bank pairing local lending with mortgage, insurance, wealth, trust, and exchange services.
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Profile
Combines commercial and personal banking with mortgage origination, insurance brokerage, employee benefits, wealth management, trust, commercial mortgage, and exchange services across Virginia and the Carolinas. Banking supplies most earnings through loan and deposit spreads, while fee businesses diversify revenue and share a local relationship network.
Provides commercial and personal banking across Virginia, North Carolina, and South Carolina, supported by TowneBank Mortgage, Towne Insurance, Towne Benefits, Towne Wealth Management, Towne Trust, TowneBank Commercial Mortgage, and Towne 1031 Exchange. Deposits and lending drive the business, while mortgage origination, insurance brokerage, wealth, trust, and exchange services add fee income.
Organizes markets around local banking groups with their own leadership and decision authority, backed by centralized controls. This model supports relationship continuity and cross-referrals among banking, mortgage, and insurance operations.
Growth has relied partly on acquisitions, making conversion of acquired loans, deposits, staff, and customers a recurring operational dependency. Earnings remain exposed to interest rates and credit conditions; mortgage production depends on housing activity and secondary-market buyers, while banking and insurance remain subject to financial-services regulation.
Company facts
Key statistics
Year to date +12.7% · Average volume (30d) 606.6K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 23, 2026Q2 FY26 | $0.79 | $0.78 | −1.4% | $245.3M | $245.7M | +0.2% | +1.95% |
| Apr 22, 2026Q1 FY26 | $0.74 | $0.74 | 0.0% | $254.2M | $246.3M | −3.1% | −0.65% |
| Jan 30, 2026Q4 FY25 | $0.71 | $0.70 | −1.4% | $225.4M | $219.8M | −2.5% | +1.89% |
| Oct 22, 2025Q3 FY25 | $0.76 | $0.83 | +9.1% | $220.1M | $215.7M | −2.0% | −2.44% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $261.2M | $277.9M | $287.1M | $255.1M | $260.5M | $497.4M | |
| Gross profit | $189.6M | $201.0M | $200.4M | $183.6M | $182.7M | $421.2M | |
| Operating income | $59.1M | $50.4M | $46.7M | $53.5M | $50.2M | $253.7M | |
| Net income | $50.6M | $38.8M | $39.0M | $40.6M | $41.0M | $193.2M | |
| Diluted EPS | $0.67 | $0.52 | $0.51 | $0.51 | $0.45 | $2.09 | |
| Gross margin | 72.6% | 72.3% | 69.8% | 72.0% | 70.1% | 84.7% | |
| Operating margin | 22.6% | 18.1% | 16.3% | 21.0% | 19.3% | 51.0% |
Fiscal years (4-quarter sums)FY21 $720.1M · FY22 $742.9M · FY23 $942.5M · FY24 $1.02B · FY25 $1.08B
Balance sheet, Jun 30, 2026Cash & short-term investments $158.8M · Total debt $450.2M · Total assets $22.62B · Shareholders' equity $2.99B
Dividends
Raised for 18 straight years — most recently to $0.28 from $0.27 in Jun 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 26, 2026 | Jun 26 | Jul 10 | $0.28 | raised from $0.27 |
| May 4, 2026 | May 4 | May 20 | $0.70 | special dividend |
| Mar 31, 2026 | Mar 31 | Apr 10 | $0.27 | |
| Dec 26, 2025 | Dec 26 | Jan 7 | $0.27 | |
| Sep 29, 2025 | Sep 29 | Oct 10 | $0.27 | |
| Jun 27, 2025 | Jun 27 | Jul 11 | $0.27 | raised from $0.25 |
| Mar 31, 2025 | Mar 31 | Apr 11 | $0.25 | |
| Dec 31, 2024 | Dec 31 | Jan 14 | $0.25 |
Ownership
Shares outstanding 92.19M · Float 90.63M · 98.3% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 6.83M | 7.41% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 4.88M | 5.29% | 13F | Aug 13, 2026 |
| T. Rowe Price Investment Management, Inc. | 4.78M | 5.19% | 13F | Aug 14, 2026 |
| Dimensional Fund Advisors LP | 4.53M | 4.92% | 13F | Aug 11, 2026 |
| Vanguard Capital Management LLC | 3.91M | 4.25% | 13F | Aug 13, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- Atlantic Union Bankshares
Closest Virginia bank peer with North Carolina expansion
- United Bankshares
Mid-Atlantic community-bank peer across overlapping states
- SouthState
Larger Southeast regional alternative in banking and mortgage
- First Bancorp
Carolina community-bank peer in retail and commercial lending
- United Community Banks
Carolinas regional peer with mortgage, wealth, trust and insurance
- Pinnacle Financial Partners
High-touch Southeast relationship-bank competitor
- Truist Financial
Super-regional substitute in TOWN's core Southeast markets
- First Citizens BancShares
Raleigh-based large regional bank with commercial overlap
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| TowneBank | $37.47 | +0.09% | $3.45B | 10.5 | 11.3 | 2.7 | +18.5% |
| Atlantic Union Bankshares | $40.66 | +0.02% | $5.77B | 12.1 | 10.5 | 2.6 | −3.5% |
| United Bankshares | $47.60 | +0.01% | $6.56B | 13.0 | 12.7 | 3.6 | +6.0% |
| SouthState | $105.98 | +0.00% | $10.28B | 11.1 | 10.8 | 3.2 | +1.2% |
| First Bancorp | $64.66 | +1.13% | $2.65B | 19.9 | 14.1 | 6.2 | +16.3% |
| United Community Banks | $35.18 | −0.01% | $4.21B | 11.5 | 11.6 | 2.7 | +9.8% |
| Pinnacle Financial Partners | $101.09 | +0.02% | $15.26B | 12.4 | 9.4 | 3.1 | +145.2% |
| Truist Financial | $53.13 | +5.37% | $62.83B | 12.0 | 10.6 | 2.1 | +6.5% |
| First Citizens BancShares | $2,194.07 | +0.07% | $24.99B | 11.7 | 11.7 | 1.7 | −5.5% |
| Median | 12.0 | 11.2 | 2.9 | +6.3% |