TowneBank Declares Third-Quarter Cash Dividend Announcement
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TowneBank Declares Quarterly Cash Dividend
TowneBank (NASDAQ: TOWN) has recently announced the declaration of its third-quarter cash dividend, reinforcing its commitment to shareholder returns. The company declared a cash dividend of $0.25 per common share, which is scheduled to be payable to shareholders of record. This decision is subject to the approval of the Board of Directors and is contingent upon regulatory restrictions.
Dividend Payment Details
The dividend is set to be disbursed on a fixed date, showcasing the bank's efforts to provide consistent returns to its investors. The declaration of future cash dividends will rely on the Board of Directors' continued approval, emphasizing TowneBank's dedication to maintaining financial stability and shareholder value.
About TowneBank
Founded in 1999, TowneBank stands as a prominent financial institution dedicated to building lasting relationships with its clients. Offering a comprehensive range of banking and financial services, the bank centers its operations on a core principle: to serve the community and enhance the quality of life for its members. This commitment to service and excellence has established TowneBank as a respected local leader in the financial sector.
Community Engagement and Growth
TowneBank takes pride in its expanding footprint, now comprising 50 banking offices across multiple regions. The bank actively contributes to the economic, social, and cultural development of the communities it serves, particularly throughout Hampton Roads, Central Virginia, and Northeastern and Central North Carolina. Through these efforts, TowneBank promotes local prosperity while delivering exceptional customer service.
Comprehensive Financial Solutions
The bank's commitment goes beyond traditional banking. TowneBank has diversified its services to include Towne Wealth Management, Towne Insurance Agency, Towne Benefits, and other affiliates. This range of services allows the bank to cater to various financial needs, ensuring clients have access to holistic solutions crafted with integrity and professionalism.
Cultural and Ethical Commitment
Cultivating a culture of caring is at the heart of TowneBank's operations. The bank values the diverse talents, perspectives, and experiences of its employees, fostering an environment where everyone can thrive. This cultural commitment enhances the overall customer experience by ensuring that clients receive personalized attention from well-trained, experienced bankers.
Financial Performance and Growth
TowneBank has exhibited significant growth over the years, with total assets amounting to $17.07 billion as of the latest reporting period. This growth trajectory solidifies TowneBank's position as one of the largest banks headquartered in Virginia, reflecting its strong performance within the competitive financial services landscape.
Contact Information
For media inquiries, please reach out to G. Robert Aston, Jr., Executive Chairman at 757-638-6780, or William I. Foster III, President and Chief Executive Officer at 757-417-6482. For investor relations, contact William B. Littreal, Chief Financial Officer at 757-638-6813.
Frequently Asked Questions
What is the amount of the announced cash dividend for TowneBank?
The announced cash dividend for TowneBank is $0.25 per common share.
When will the cash dividend be payable?
The cash dividend is set to be payable on a fixed date, which will be specified in the official announcement.
Who is eligible to receive the dividend?
Shareholders who are on record by a certain date will be eligible to receive the dividend payment.
What does TowneBank offer beyond banking services?
TowneBank provides a variety of financial solutions through its affiliated companies, including wealth management, insurance, and mortgage services.
How does TowneBank contribute to community development?
TowneBank plays an active role in promoting the social, cultural, and economic growth of the communities it serves through various initiatives and support programs.
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