TowneBank's Exciting Dividend Announcement for Investors
TowneBank's Latest Dividend Declaration
Hampton Roads based TowneBank has made headlines by announcing that its Board of Directors has declared a third-quarter cash dividend of $0.27 per common share. This attractive dividend is set to be paid on a future date to shareholders who are confirmed on the record date.
Key Financial Highlights
The decision to distribute dividends reflects TowneBank's solid financial foundation and ongoing growth. It's important to note that the amount and declaration of future cash dividends will remain subject to the approval of the Board of Directors, alongside any regulatory restrictions that may apply.
About TowneBank
Founded in 1999, TowneBank has built a strong reputation for establishing meaningful relationships with its customers. Offering a comprehensive range of banking and financial services, TowneBank is dedicated to enriching the lives of its clients. With a commitment to a culture of care, the bank values diversity in its workforce, embracing the distinct talents and perspectives of its employees.
Community Engagement and Services
Currently, TowneBank operates more than 55 branches across Hampton Roads and components of Central Virginia, also making its mark in Central North Carolina. The bank plays a pivotal role in promoting social, cultural, and economic growth within each community it serves. Its extensive suite of business and personal banking solutions is characterized by the highest ethical standards, facilitated by experienced local bankers whom clients can rely upon for tailored support.
Diverse Services Beyond Banking
TowneBank’s growth extends beyond conventional banking; it also provides specialized support through its affiliated companies. These include Towne Wealth Management, Towne Insurance Agency, and Towne Benefits, among others. Each of these branches reflects TowneBank's mission to not only meet but exceed customer expectations, ensuring that clients receive comprehensive financial guidance.
Investment Information
As of the latest reports, TowneBank boasts total assets amounting to approximately $18.26 billion. This positions the institution among the largest banks within Virginia, presenting an appealing opportunity for investors and customers alike. The continuing expansion and diversification of services underscore TowneBank's ambitious strategy in an evolving marketplace.
Contact Information
Media inquiries:
G. Robert Aston, Jr., Executive Chairman, 757-638-6780
William I. Foster III, President and Chief Executive Officer, 757-417-6482
Investor inquiries:
William B. Littreal, Chief Financial Officer, 757-638-6813
Frequently Asked Questions
What dividend did TowneBank declare?
TowneBank declared a quarterly cash dividend of $0.27 per common share.
When will the dividend be paid?
The dividend is to be paid on a scheduled date to the shareholders of record.
What strategies does TowneBank implement for growth?
TowneBank focuses on community engagement, offering a range of banking solutions and diverse services through its affiliates.
How does TowneBank ensure ethical practices?
TowneBank emphasizes high ethical standards, ensuring transparency and integrity in service delivery.
What is TowneBank's total asset value?
TowneBank reported total assets of approximately $18.26 billion, marking its position as one of the largest banks in Virginia.
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