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    TOWN   US89214P1093


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TowneBank Announces Quarterly Cash Dividend

11/24/2021 | 11:07am EST

SUFFOLK, Va., Nov. 24, 2021 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ: TOWN) announced today that its Board of Directors on November 24, 2021 declared its fourth-quarter shareholder cash dividend of $0.20 per common share payable on January 12, 2022 to shareholders of record on December 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 $15.81 billion as of September 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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Financials (USD)
Sales 2021 679 M - -
Net income 2021 222 M - -
Net Debt 2021 - - -
P/E ratio 2021 10,6x
Yield 2021 2,43%
Capitalization 2 292 M 2 292 M -
Capi. / Sales 2021 3,37x
Capi. / Sales 2022 3,55x
Nbr of Employees 2 522
Free-Float 100%
Duration : Period :
TowneBank Technical Analysis Chart | MarketScreener
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Technical analysis trends TOWNEBANK
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 4
Last Close Price 31,93 $
Average target price 35,50 $
Spread / Average Target 11,2%
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
Sector and Competitors