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About the company
TowneBank is engaged in offering retail and commercial banking services to various markets in Virginia and North Carolina. The Company operates through three segments: Banking, Realty and Insurance. The Banking segment provides loan and deposit services to retail and commercial customers. It also provides commercial mortgage brokerage services and a variety of investment and asset management services. The Realty segment offers residential real estate services, mortgage loans, resort property management, and residential and commercial title insurance. The Insurance segment provides a full line of commercial and consumer insurance products and financial services, as well as employee benefit services. It operates over 45 banking offices (eight of which operate as Farmers Bank, a division of TowneBank) throughout Hampton Roads and Central Virginia, as well as Northeastern and Central North Carolina. Its subsidiaries include Towne Investments, LLC, TowneBank Heritage Forest, LLC and others.
- Revenue in USD (TTM)572.98m
- Net income in USD181.73m
- Incorporated1998
- Employees2.77k
- LocationTowneBank5716 High StreetPORTSMOUTH 23703-4502United StatesUSA
- Phone+1 (757) 638-7500
- Websitehttps://townebank.com/
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Mergers & acquisitions
| Acquired company | TOWN:NSQ since announced | Transaction value |
|---|---|---|
| Farmers Bankshares Inc | -20.10% | 58.67m |
Data delayed at least 15 minutes, as of Jun 02 2023 21:00 BST.
Peer analysis
Key Information
- Key Information
- Stock Performance
- Per Share Data
- Efficiency
- Management Effectiveness
- Profitability
- Financial Strength
- Growth Rates
| Company | Revenue (TTM) | Net income (TTM) | Market cap | Employees | Price/earnings (TTM) | Price/book value (MRQ) | Price/cash flow (TTM) | Price/sales (TTM) | EPS (excl. extraordinary items, TTM) | EPS (incl. extraordinary items, TTM) | Revenue per share (TTM) | Book value per share (MRQ) | Asset turnover (TTM) | Inventory turnover (TTM) | Receivables turnover (TTM) | Revenues per employee (TTM) | Return on avg assets (TTM) | Return on avg assets (5 yr avg) | Return on investment (TTM) | Return on investment (5 yr avg) | Gross margin (TTM) | Gross margin (5 yr avg) | Net profit margin (TTM) | Net Profit margin (5 yr avg) | Quick ratio (MRQ) | Interest coverage (TTM) | Total debt to capital (MRQ) | Payout ratio (5 yr avg) | Revenue (YOY change %) | Revenue (5 yr growth rate) | Net income (YOY change %) | Net income (5 yr growth rate) | Capital expenditure (5 yr growth rate) | Dividend (5 yr growth rate) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Renasant Corp | 615.66m | 178.60m | 1.62bn | 2.33k | 9.10 | 0.7404 | 7.44 | 2.43 | 3.17 | 3.17 | 11.85 | 39.01 | -- | -- | -- | -- | 1.04 | 1.04 | -- | -- | -- | -- | 26.80 | 24.02 | -- | -- | -- | 33.06 | 15.60 | 7.65 | -5.59 | 9.26 | 2.61 | -0.6682 |
| Banner Corp | 616.64m | 206.97m | 1.64bn | 1.93k | 7.96 | 1.07 | 7.17 | 2.52 | 6.01 | 6.01 | 18.97 | 44.64 | -- | -- | -- | -- | 1.28 | 1.14 | -- | -- | -- | -- | 31.70 | 27.58 | -- | -- | -- | 40.59 | 10.00 | 6.79 | -2.82 | 13.58 | 3.76 | 12.42 |
| First Merchants Corp | 701.86m | 235.71m | 1.70bn | 2.12k | 7.18 | 0.8058 | 6.87 | 2.54 | 3.97 | 3.97 | 11.27 | 35.82 | -- | -- | -- | -- | 1.41 | 1.37 | -- | -- | -- | -- | 35.51 | 35.96 | -- | -- | -- | 31.59 | 35.46 | 13.95 | 7.37 | 16.88 | -- | 12.62 |
| Bank of Hawaii Corp | 655.13m | 209.94m | 1.72bn | 2.08k | 8.20 | 1.46 | 7.42 | 2.44 | 5.29 | 5.29 | 17.80 | 34.16 | -- | -- | -- | -- | 0.9282 | 1.09 | -- | -- | -- | -- | 30.85 | 31.86 | -- | -- | -- | 50.09 | 13.41 | 3.47 | -12.97 | 2.97 | -1.15 | 6.54 |
| Park National Corporation | 408.00m | 143.21m | 1.75bn | 1.73k | 12.34 | 1.61 | 11.03 | 3.57 | 8.75 | 8.75 | 29.96 | 66.91 | -- | -- | -- | -- | 1.47 | 1.47 | -- | -- | -- | -- | 29.21 | 29.80 | -- | -- | -- | 55.19 | 9.37 | 5.72 | -3.63 | 11.67 | 2.49 | 2.04 |
| Bancorp Inc | 374.62m | 150.37m | 1.82bn | 717.00 | 12.55 | 2.54 | 11.86 | 4.70 | 2.65 | 2.65 | 6.83 | 13.11 | -- | -- | -- | -- | 2.05 | 1.56 | -- | -- | -- | -- | 38.76 | 31.30 | -- | -- | -- | 0.00 | 38.80 | 20.37 | 17.90 | 30.33 | 58.39 | -- |
| TowneBank | 572.98m | 181.73m | 1.85bn | 2.77k | 9.94 | 0.938 | 11.16 | 2.62 | 2.49 | 2.49 | 9.66 | 26.40 | -- | -- | -- | -- | 1.09 | 1.31 | -- | -- | -- | -- | 25.89 | 27.72 | -- | -- | -- | 32.74 | 16.80 | 11.16 | -12.26 | 14.09 | 31.21 | 9.75 |
| Washington Federal Inc. | 853.85m | 267.51m | 1.86bn | 2.13k | 6.92 | 0.8966 | 6.17 | 2.52 | 4.09 | 4.09 | 11.30 | 36.10 | -- | -- | -- | -- | 1.32 | 1.13 | -- | -- | -- | -- | 38.16 | 35.25 | -- | -- | -- | 32.05 | 12.63 | 3.95 | 27.72 | 5.02 | -5.28 | 10.00 |
| CVB Financial Corp. | 543.35m | 247.47m | 1.86bn | 1.07k | 7.47 | 0.9353 | 9.57 | 3.26 | 1.79 | 1.79 | 4.10 | 14.28 | -- | -- | -- | -- | 1.47 | 1.50 | -- | -- | -- | -- | 43.68 | 41.55 | -- | -- | -- | 48.40 | 22.36 | 12.37 | 10.57 | 14.82 | 1.84 | 7.60 |
| Seacoast Banking Corporation of Florida | 460.25m | 97.75m | 1.90bn | 1.49k | 15.18 | 0.9282 | 16.01 | 3.85 | 1.48 | 1.48 | 7.16 | 24.24 | -- | -- | -- | -- | 0.7473 | 1.16 | -- | -- | -- | -- | 19.79 | 28.52 | -- | -- | -- | 13.42 | 33.86 | 14.71 | -14.39 | 15.66 | 17.23 | -- |
| First Financial Bancorp | 679.75m | 246.71m | 1.98bn | 2.11k | 8.01 | 0.9355 | 7.15 | 2.56 | 2.60 | 2.60 | 8.19 | 22.29 | -- | -- | -- | -- | 1.50 | 1.29 | -- | -- | -- | -- | 31.78 | 30.17 | -- | -- | -- | 44.64 | 21.06 | 11.92 | 6.07 | 19.69 | 16.08 | 6.23 |
| Pacific Premier Bancorp, Inc. | 821.38m | 275.86m | 2.00bn | 1.43k | 7.13 | 0.7069 | 6.51 | 2.54 | 2.93 | 2.93 | 8.38 | 29.58 | -- | -- | -- | -- | 1.30 | 1.22 | -- | -- | -- | -- | 35.46 | 31.07 | -- | -- | -- | 39.82 | 10.31 | 23.27 | -16.66 | 33.65 | 12.31 | -- |
| Fulton Financial Corp | 981.66m | 280.76m | 2.02bn | 3.30k | 7.27 | 0.8331 | 6.46 | 1.91 | 1.68 | 1.68 | 6.34 | 15.83 | -- | -- | -- | -- | 1.10 | 0.998 | -- | -- | -- | -- | 27.47 | 26.08 | -- | -- | -- | 42.23 | 19.55 | 5.27 | 4.34 | 8.11 | -8.48 | 6.53 |
| Hilltop Holdings Inc. | 663.01m | 116.68m | 2.08bn | 4.12k | 18.43 | 1.01 | 13.55 | 1.65 | 1.74 | 1.74 | 18.77 | 31.63 | -- | -- | -- | -- | 0.6948 | 1.61 | -- | -- | -- | -- | 9.76 | 15.85 | -- | -- | -- | 13.94 | 11.54 | 3.11 | -69.79 | 1.67 | -20.65 | 19.53 |
Data as of Jun 02 2023. Currency figures normalised to TowneBank's reporting currency: US Dollar USD
37.41%Per cent of shares held by top holders
| Holder | Shares | % Held |
|---|---|---|
| The Vanguard Group, Inc.as of 31 Mar 2023 | 7.30m | 10.04% |
| BlackRock Fund Advisorsas of 31 Mar 2023 | 4.72m | 6.49% |
| Dimensional Fund Advisors LPas of 31 Mar 2023 | 3.63m | 4.99% |
| T. Rowe Price Investment Management, Inc.as of 31 Mar 2023 | 3.60m | 4.95% |
| Nuance Investments LLCas of 31 Mar 2023 | 1.82m | 2.51% |
| SSgA Funds Management, Inc.as of 31 Mar 2023 | 1.77m | 2.44% |
| American Century Investment Management, Inc.as of 31 Mar 2023 | 1.52m | 2.10% |
| Geode Capital Management LLCas of 31 Mar 2023 | 1.37m | 1.89% |
| Goldman Sachs Asset Management LPas of 31 Mar 2023 | 778.20k | 1.07% |
| Charles Schwab Investment Management, Inc.as of 31 Mar 2023 | 692.13k | 0.95% |
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Data from 31 Mar 2023 - 31 Mar 2023Source: FactSet Research Systems Inc.
