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 reports developments tied to its community banking franchise, shareholder returns, governance, and expansion across Virginia, North Carolina, and South Carolina. The company provides business and personal banking through a regional office network and operates affiliated services including wealth management, insurance, employee benefits, mortgage banking, commercial mortgage brokerage, real estate, 1031 exchange services, and trust services.
Recurring company news includes quarterly and annual earnings, credit quality, liquidity and capital commentary, common-stock dividends, board appointments, bank acquisition activity, and completed portfolio changes such as the sale of its Resort Property Management segment. Updates also reflect the company’s local banking model and the contribution of nonbank financial-services affiliates.
TowneBank (NASDAQ: TOWN) announced that its Board of Directors has declared a third-quarter cash dividend of $0.28 per common share. The dividend is payable on October 9, 2026, to shareholders of record as of September 25, 2026. Future dividends remain subject to Board approval and regulatory restrictions.
TowneBank (NASDAQ:TOWN) reported second quarter 2026 net income of $193.19 million, or $2.09 per diluted share, versus $40.89 million, or $0.54, a year earlier. Core non-GAAP earnings were $72.01 million, or $0.78 per diluted share, compared to $63.39 million, or $0.84.
Total revenue rose to $444.27 million, up 111% year over year, driven by a $198.55 million gain on the sale of the Resort Property Management segment and stronger net interest income. Net interest margin increased to 3.68%, while total deposits reached $18.71 billion and loans held for investment were $15.17 billion.
Key one-time items included the segment sale gain, a $25.00 million special charitable foundation contribution, $8.68 million of M&A expenses, and a special dividend of $0.70 per common share. Book value per share rose to $32.40 and tangible book value per share to $22.60.
TowneBank (Nasdaq:TOWN) appointed William A. “Billy” Gwaltney, Jr. and John O. Wynne, Jr. to its Corporate Board of Directors, effective June 30, 2026.
Gwaltney brings agribusiness and prior Farmers Bank leadership; Wynne contributes packaging, investment banking, and regional civic leadership experience. TowneBank reported $22.36 billion in total assets as of March 31, 2026.
TowneBank (NASDAQ:TOWN) declared a second-quarter 2026 cash dividend of $0.28 per common share, payable July 10, 2026 to shareholders of record June 26, 2026. This quarterly dividend, $1.12 annualized, reflects a 3.7% increase from the prior rate.
TowneBank completed the $250 million sale of its Resort Property Management business on April 3, 2026 and paid a $0.70 per-share special dividend on May 20, 2026. The Board also approved a $25 million donation to the TowneBank Foundation, to be expensed in second-quarter 2026.
TowneBank (NASDAQ: TOWN) declared a one-time special cash dividend of $0.70 per common share, payable May 20, 2026 to shareholders of record at the close of business on May 4, 2026. The payout totals approximately $65 million.
The dividend represents roughly 32% of an estimated $203 million gain, before taxes and deal costs, recognized on the April 3, 2026 sale of its Resort Property Management business for a $250 million purchase price. Future dividends remain subject to Board approval and regulatory restrictions.
TowneBank (NASDAQ: TOWN) reported Q1 2026 net income of $40.99 million ($0.45 diluted) and core earnings (non-GAAP) of $66.73 million ($0.74). Total revenues were a record $246.45 million, up 34.6% year-over-year. The company completed the Dogwood acquisition (loans $1.95B, deposits $1.93B) and sold Resort Property Management for $250 million with an anticipated gain of ~$195 million.
TowneBank (Nasdaq: TOWN) completed the sale of its Resort Property Management segment, Towne Vacations, to Belcrest Vacations Acquisitions, LLC for $250 million on April 6, 2026. The company said the divestiture aligns with its strategy to create shareholder value and will place the business with a partner positioned to support future growth.
Wachtell, Lipton, Rosen and Katz served as lead legal counsel with Williams Mullen as local counsel to TowneBank in the transaction.
TowneBank (NASDAQ: TOWN) declared a quarterly cash dividend of $0.27 per common share. The dividend is payable on April 10, 2026 to shareholders of record on March 31, 2026. Future dividend amounts and declarations remain subject to board approval and regulatory restrictions.
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.