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    TOWN   US89214P1093

TOWNEBANK

(TOWN)
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TowneBank : Announces Quarterly Cash Dividend

08/25/2021 | 12:30pm EDT

SUFFOLK, Va., Aug. 25, 2021 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ: TOWN) announced today that its Board of Directors on August 25, 2021 declared its third-quarter shareholder cash dividend of $0.20 per common share payable on October 12, 2021 to shareholders of record on September 30, 2021.

The amount and declaration of future cash dividends are subject to Board of Directors’ approval in addition to regulatory restrictions.

About TowneBank:

Founded in 1999, TowneBank is a company built on relationships, offering a full range of banking and other financial services, with a mission of serving others and enriching lives. Dedicated to a culture of caring, Towne values all employees and members by embracing their diverse talents, perspectives, and experiences.

Today, the bank operates over 40 banking offices throughout Hampton Roads and Central Virginia, as well as Northeastern and Central North Carolina – serving as a local leader in promoting the social, cultural, and economic growth in each community. Towne offers a competitive array of business and personal banking solutions, delivered with only the highest ethical standards. Experienced local bankers providing a higher level of expertise and personal attention with local decision-making are key to the TowneBank strategy. Towne has grown its capabilities beyond banking to provide expertise through its controlled divisions and subsidiaries that include Towne Investment Group, Towne Wealth Management, Towne Insurance Agency, Towne Benefits, TowneBank Mortgage, TowneBank Commercial Mortgage, Berkshire Hathaway HomeServices Towne Realty, Towne 1031 Exchange, LLC, and Towne Vacations. With total assets of $15.80 billion as of June 30, 2021, TowneBank is one of the largest banks headquartered in Virginia.

Media contact:
G. Robert Aston, Jr., Executive Chairman, 757-638-6780
J. Morgan Davis, Chief Executive Officer, 757-673-1673

Investor contact:
William B. Littreal, Chief Financial Officer, 757-638-6813


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Source: TowneBank

2021 GlobeNewswire, Inc., source Press Releases

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Financials (USD)
Sales 2021 665 M - -
Net income 2021 218 M - -
Net Debt 2021 - - -
P/E ratio 2021 10,7x
Yield 2021 2,40%
Capitalization 2 289 M 2 289 M -
Capi. / Sales 2021 3,44x
Capi. / Sales 2022 3,68x
Nbr of Employees 2 557
Free-Float 97,0%
Chart TOWNEBANK
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Technical analysis trends TOWNEBANK
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 4
Last Close Price 31,90 $
Average target price 34,33 $
Spread / Average Target 7,63%
EPS Revisions
Managers and Directors
J. Morgan Davis Chief Executive Officer & Director
Brad E. Schwartz President, Chief Operating Officer & Director
William B. Littreal CFO, Chief Strategy & Investor Relations Officer
G. Robert Aston Executive Chairman
John W. Failes Vice Chairman
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