TowneBank Announces Quarterly Cash Dividend

Rhea-AI Summary

TowneBank (NASDAQ: TOWN) has declared its first-quarter cash dividend for shareholders. The Hampton Roads based financial institution will distribute $0.25 per common share on April 11, 2025, to shareholders of record as of March 31, 2025. The company notes that future dividend amounts and declarations will require Board approval and must comply with regulatory restrictions.

Positive

• Maintaining quarterly dividend payments indicates financial stability
• $0.25 per share dividend provides steady income for shareholders

Negative

• None.

SUFFOLK, Va., Feb. 26, 2025 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ: TOWN) announced today that its Board of Directors declared its first-quarter shareholder cash dividend of $0.25 per common share payable on April 11, 2025, to shareholders of record on March 31, 2025.

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 focus of serving others and enriching lives. Dedicated to a culture of caring, TowneBank values all employees and members by embracing their diverse talents, perspectives, and experiences.

Today, TowneBank operates over 50 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. TowneBank has grown its capabilities beyond banking to provide expertise through its affiliated companies that include Towne Wealth Management, Towne Insurance Agency, Towne Benefits, TowneBank Mortgage, TowneBank Commercial Mortgage, Berkshire Hathaway HomeServices RW Towne Realty, Towne 1031 Exchange, LLC, and Towne Vacations. With total assets of $17.25 billion as of December 31, 2024, TowneBank is one of the largest banks headquartered in Virginia.

Media contact:
G. Robert Aston, Jr., Executive Chairman, 757-638-6780
William I. Foster III, President and Chief Executive Officer, 757-417-6482

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

FAQ

What is the Q1 2025 dividend amount for TowneBank (TOWN) stock?

TowneBank's Q1 2025 dividend is $0.25 per common share.

When is the payment date for TowneBank's Q1 2025 dividend?

The dividend payment date is April 11, 2025.

What is the record date for TowneBank's Q1 2025 dividend?

The record date is March 31, 2025.

How are TowneBank's future dividend payments determined?

Future dividend amounts and declarations require Board of Directors' approval and must comply with regulatory restrictions.