Key Performance
More- Earnings Score: N/A
- Momentum Score: 55
- True Yield: N/A
- Financial Health Score: N/A
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Latest Research & News
TowneBank Announces Quarterly Cash Dividend
TowneBank announced a 3.7% increase in its quarterly dividend to $0.28 per share, raising the annual rate to $1.12. Following the sale of its Resort Property Management business for $250 million and a special dividend of $0.70 per share, the bank's board approved a $25 million donation to the TowneBank Foundation to support charitable organizations in its service communities.
05/20/2026, 2:00 PM • GlobeNewswire
TowneBank Announces Quarterly Cash Dividend
TowneBank (NASDAQ: TOWN) announced a second-quarter cash dividend of $0.28 per share, representing a 3.7% increase from the previous rate. The bank also approved a one-time $25 million donation to the TowneBank Foundation following the sale of its Resort Property Management business for $250 million in April 2026.
05/20/2026, 2:00 PM • Benzinga
TowneBank Announces Special Cash Dividend
TowneBank (NASDAQ:TOWN) announced a special one-time cash dividend of $0.70 per share payable May 20, 2026, totaling approximately $65 million. The dividend represents roughly 32% of the estimated $203 million pre-tax gain from the sale of its Resort Property Management business completed on April 3, 2026 for $250 million.
04/23/2026, 8:30 AM • Benzinga
TowneBank Announces Sale of Resort Property Management Segment
TowneBank (NASDAQ: TOWN) completed the sale of its Resort Property Management segment, Towne Vacations, to Belcrest Vacations Acquisitions, LLC for $250 million. The bank's leadership stated the transaction creates shareholder value and positions the business for future growth under new ownership.
04/06/2026, 8:30 AM • Benzinga
TowneBank Announces Quarterly Cash Dividend
TowneBank (NASDAQ: TOWN), a Hampton Roads-based bank with $19.69 billion in total assets, announced a first-quarter shareholder cash dividend of $0.27 per common share payable on April 10, 2026. The bank operates over 70 banking offices across Virginia, North Carolina, and South Carolina, offering comprehensive banking and financial services through multiple affiliated companies.
02/25/2026, 11:00 AM • GlobeNewswire
Dogwood State Bank Shareholders Approve Merger into TowneBank
Shareholders of Dogwood State Bank have approved a merger with TowneBank, expected to close in early Q1 2026, pending regulatory approvals.
12/10/2025, 2:45 PM • Benzinga
TowneBank Announces Completion of Old Point Financial Corporation Merger
TowneBank has completed its merger with Old Point Financial Corporation, enhancing its market position in the Hampton Roads region. The merger will integrate Old Point National Bank's operations into TowneBank by February 2026, with former Old Point CEO Robert F. Shuford, Jr. appointed as a senior executive vice president.
09/02/2025, 4:32 PM • Benzinga
TowneBank Expands Carolinas Presence Through Agreement to Acquire Dogwood State Bank
TowneBank will acquire Dogwood State Bank in a merger that expands its strategic presence along the Interstate 85 corridor, creating a combined entity with approximately $22 billion in total assets, expected to close in early 2026.
08/19/2025, 8:00 AM • GlobeNewswire
TowneBank and Old Point Financial Corporation have received regulatory approval for their merger, expected to close on September 1, 2025. Shareholders can elect to receive cash, TowneBank stock, or a combination, with an election deadline of August 26, 2025.
08/14/2025, 7:00 PM • GlobeNewswire
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MoreInformation as of 06/22/2026
Company Profile
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.