Welcome to our dedicated page for Townebank Portsmouth Va news (Ticker: TOWN), a resource for investors and traders seeking the latest updates and insights on Townebank Portsmouth Va stock.
TowneBank (NASDAQ: TOWN) generates frequent news coverage as a regional commercial bank and financial services company active in Virginia, North Carolina, South Carolina, and parts of Tennessee. This news page aggregates company announcements, market updates, and transaction-related disclosures so readers can follow developments that affect TowneBank’s operations and footprint.
Recent news has highlighted TowneBank’s growth through mergers and acquisitions. The bank completed its merger with Old Point Financial Corporation, adding Old Point National Bank and Old Point Wealth Management and enhancing its core deposit base in the Hampton Roads region. TowneBank also announced and then completed the merger of Dogwood State Bank, a community bank headquartered in Raleigh, North Carolina, which expanded TowneBank’s presence along the Interstate 85 corridor and in key Carolinas markets, including Raleigh, Charlotte, Greensboro–Winston Salem, Greenville, and coastal North Carolina communities, as well as Charleston, South Carolina, and Elizabethton, Tennessee.
Investors and observers can expect TowneBank news to cover quarterly earnings releases, dividend declarations, regulatory approvals for mergers, closing announcements for acquisitions, and integration milestones for acquired institutions such as Village Bank and Trust Financial Corp., Old Point Financial Corporation, and Dogwood State Bank. Company updates also describe changes in deposits, loans, asset quality, and capital ratios, as well as commentary from TowneBank’s leadership on strategy, credit trends, and market conditions.
This page is useful for tracking how TowneBank’s Main Street banking strategy, community focus, and expansion efforts translate into financial performance and regional growth. For ongoing insight into TOWN news, readers can review the latest press releases, transaction updates, and earnings summaries as they are published.
TowneBank (Nasdaq: TOWN) appointed Richard Cullen to its Corporate Board of Directors effective February 2026. Cullen brings decades of public-service and private-practice legal experience, including roles as Counselor to Governor Glenn Youngkin (2022–2026) and former Virginia Attorney General.
The company also closed its acquisition of Dogwood State Bank on January 12, 2026, creating pro forma total assets of approximately $22 billion as of December 31, 2025.
TowneBank (Nasdaq: TOWN) reported 2025 full-year earnings of $169.53 million or $2.21 per diluted share and core earnings (non-GAAP) of $231.55 million or $3.02 per diluted share.
Total revenues rose to $835.72 million, loans held for investment increased 16.38% to add $1.88 billion, and total deposits grew 14.35% to $16.51 billion, including $544.61 million in acquired noninterest-bearing deposits.
Net interest margin was 3.40%, assets were $19.69 billion, and the company completed the acquisitions of Old Point and Village in 2025. TowneBank's 2026 annual meeting is scheduled for May 20, 2026.
TowneBank (NASDAQ: TOWN) announced completion of its merger with Raleigh-based Dogwood State Bank, effective January 12, 2026. The transaction expands TowneBank’s footprint along the I-85 corridor and into key North Carolina markets (Raleigh, Charlotte, Greensboro-Winston Salem, Greenville), Eastern North Carolina coast (Outer Banks, Morehead City, Wilmington, Fayetteville), Charleston, SC, and Elizabethton, TN. Dogwood branches will operate as “Dogwood State Bank, a Division of TowneBank” until a core systems conversion in November 2026. Steven W. Jones joins as President of the Carolinas and, with George Perkins, was appointed to TowneBank’s board effective January 12, 2026.
Dogwood State Bank (OTCQX: DSBX) shareholders approved the merger into TowneBank (NASDAQ: TOWN) at a special meeting on December 3, 2025.
The parties expect the merger to close early in the first quarter of 2026, subject to satisfaction of customary closing conditions including the receipt of all required regulatory approvals.
TowneBank (NASDAQ: TOWN) announced a quarterly cash dividend of $0.27 per common share. The dividend is payable on January 7, 2026 to shareholders of record on December 26, 2025. The declaration notes that the amount and any future cash dividends remain subject to Board of Directors approval and applicable regulatory restrictions.
TowneBank (NASDAQ: TOWN) reported third quarter 2025 results: GAAP earnings of $38.98M or $0.51 diluted EPS, and core (non-GAAP) earnings $63.45M or $0.83 per diluted share.
Key operational highlights: total revenue $215.67M (+23.58% YoY), total deposits $16.53B (+15.09% YoY), loans held for investment $13.38B (+17.23% YoY), and tax-equivalent net interest margin of 3.50%. The quarter included completed acquisitions of Old Point (Sept 2025) and Village (Apr 2025) and acquisition-related expenses.
TowneBank (Nasdaq: TOWN) has completed its merger with Old Point Financial Corporation, including its subsidiaries Old Point National Bank and Old Point Wealth Management. The strategic merger, effective September 1, 2025, strengthens TowneBank's presence in the Hampton Roads MSA market.
Old Point National Bank locations will temporarily operate as "Old Point National Bank, a Division of TowneBank" until February 2026, when core systems integration is scheduled. Former Old Point CEO Robert F. Shuford, Jr. will join as senior executive vice president and serve as chairman of the TowneBank Peninsula board starting January 2026.
TowneBank (NASDAQ: TOWN) has declared a quarterly cash dividend of $0.27 per common share for the third quarter. The dividend will be payable on October 10, 2025, to shareholders of record as of September 29, 2025. The Hampton Roads based bank's future dividend declarations will continue to be subject to Board approval and regulatory requirements.
TowneBank (NASDAQ: TOWN) has announced a definitive agreement to acquire Dogwood State Bank (OTC: DSBX) in an all-stock transaction valued at $476.2 million. The merger, expected to close in 1Q26, will create a combined entity with $22 billion in assets, $16 billion in loans, and $19 billion in deposits.
The acquisition significantly expands TOWN's presence in the Carolinas with 17 additional retail branches in key markets including Raleigh, Charlotte, Greenville, Wilmington, and Charleston. Dogwood's specialization in SBA lending and small business services will complement TOWN's existing operations. The deal represents TOWN's third acquisition within a year, following Old Point Financial Corporation and Village Bank acquisitions.
The transaction is priced at $25.04 per DSBX share, reflecting a 2.1x price-to-tangible book value ratio. The proforma bank will maintain a CET1 ratio of approximately 11%, with expectations to rebuild capital closer to historical levels of 12-13%.
TowneBank (NASDAQ: TOWN) has announced a definitive merger agreement to acquire Dogwood State Bank (OTCQX: DSBX) in a strategic expansion move along the Interstate 85 corridor. The transaction, valued at approximately $476.2 million, will be executed through a stock exchange where Dogwood shareholders will receive 0.700 shares of TowneBank stock for each Dogwood share.
Following this acquisition and the pending Old Point Financial Corporation merger, the combined entity will command $22 billion in total assets, $16 billion in loans, and $19 billion in deposits. The merger is expected to be 8.0% accretive to TowneBank's 2027 earnings per share. Dogwood's CEO Steve Jones will join TowneBank as President of North Carolina and South Carolina operations.
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