TowneBank Declares Favorable Cash Dividend for Stakeholders
TowneBank's Commitment to Shareholder Value
TowneBank, a prominent financial institution, has declared a third-quarter cash dividend of $0.27 per share to benefit its shareholders. This announcement signifies the bank's ongoing commitment to providing value to its stakeholders, reinforcing its stability and positive trajectory in the banking sector.
Understanding the Dividend Declaration
The Board of Directors at TowneBank has set the date for this cash dividend to be distributed on a specified day in October for shareholders on record a few days prior. This strategic decision highlights the bank's dedication to returning profits to its investors while maintaining a sound approach to financial governance.
Future Dividends and Approval Processes
Importantly, shareholders should note that future declarations are contingent on subsequent board approvals and must align with regulatory guidelines. This process ensures that the financial health of the bank remains a priority, and any decisions made are in the best interests of both the bank and its shareholders.
About TowneBank: A Community-Focused Institution
Founded in 1999, TowneBank aims to build strong relationships within the community while providing a comprehensive suite of banking services. The institution prides itself on its commitment to enhancing the lives of its customers and employees alike. With core values centered around care, diversity, and inclusion, TowneBank fosters a supportive environment that resonates with its corporate mission.
Expanding Financial Services
TowneBank has expanded beyond traditional banking, offering a variety of financial services through its subsidiaries. These include Towne Wealth Management, Towne Insurance Agency, and TowneBank Mortgage, among others. This diverse approach not only adds value to banking clients but also supports economic growth in the regions served, highlighting TowneBank's role as a local leader.
Financial Growth and Community Impact
As of mid-2025, TowneBank boasts total assets amounting to approximately $18.26 billion, affirming its position as one of Virginia's largest banks. The institution operates over 55 offices across the region, extending its reach from Hampton Roads to Central Virginia, and into parts of North Carolina. Such extensive operations enable TowneBank to contribute significantly to local social and economic initiatives.
Dedicated Leadership and Customer Focus
The success of TowneBank is driven not just by its expansive services but also by the expertise and dedication of its leadership team. Key figures of the bank, including the Executive Chairman and the President and CEO, are committed to ensuring that every client receives the highest level of service tailored to their unique needs.
Contacting TowneBank for Inquiries
For media inquiries, G. Robert Aston, Jr., the Executive Chairman, can be reached directly at 757-638-6780. Investors seeking more information can contact William B. Littreal, the Chief Financial Officer, at 757-638-6813. This transparent communication reflects TowneBank's commitment to maintaining open channels with both investors and the public, further enhancing trust and reliability.
Frequently Asked Questions
What is the declared cash dividend for Q3 from TowneBank?
TowneBank has declared a third-quarter cash dividend of $0.27 per share.
When will the cash dividend be paid to shareholders?
The dividend is scheduled to be paid on a specified date in October.
Who can I contact for media inquiries about TowneBank?
G. Robert Aston, Jr., the Executive Chairman, is available for media inquiries at 757-638-6780.
What services does TowneBank offer beyond traditional banking?
TowneBank offers a wide range of financial services, including wealth management, insurance, and mortgage solutions.
Where is TowneBank headquartered and what is its asset size?
TowneBank is headquartered in Virginia and has total assets of approximately $18.26 billion as of June 2025.
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