TowneBank Announces Quarterly Cash Dividend and Annual Shareholder Meeting Date
February 28 2018 - 4:00PM
Hampton Roads based TowneBank (NASDAQ:TOWN) announced today that
its Board of Directors on February 28, 2018 declared its
first-quarter shareholder cash dividend of $0.14 per common share
payable on April 10, 2018 to shareholders of record on
March 29, 2018.
The amount and declaration of future cash dividends are subject
to Board of Directors’ approval in addition to regulatory
restrictions.
Annual Meeting of Shareholders:
TowneBank announced that its 2018 Annual Meeting of Shareholders
would be held at 11:30 a.m. on Wednesday, May 23, 2018 at the
Virginia Beach Convention Center, 1000 19th Street in Virginia
Beach, Virginia.
About TowneBank:
As one of the top community banks in Virginia and North
Carolina, TowneBank operates 40 banking offices serving Chesapeake,
Chesterfield County, Glen Allen, Hampton, James City County,
Mechanicsville, Newport News, Norfolk, Portsmouth, Richmond,
Suffolk, Virginia Beach, Williamsburg, and York County in Virginia,
along with Raleigh, Cary, Charlotte, Moyock, Grandy, Camden County,
Southern Shores, Corolla and Nags Head in North Carolina.
Towne also offers a full range of financial services through its
controlled divisions and subsidiaries that include Towne Investment
Group, Towne Wealth Management, Towne Insurance Agency, Towne
Benefits, TowneBank Mortgage, TowneBank Commercial Mortgage,
Berkshire Hathaway HomeServices Towne Realty, Towne 1031 Exchange,
LLC, and Towne Vacations. Local decision-making is a hallmark
of its hometown banking strategy that is delivered through the
leadership of each group’s President and Board of Directors.
With total assets of $8.52 billion as of December 31,
2017, TowneBank is one of the largest banks headquartered in
Virginia. Based on financial data as of September 30, 2017
and reflecting the recently completed merger with Paragon
Commercial Corporation, TowneBank would have total assets of
$10.5 billion, gross loans of $7.3 billion and total
deposits of $7.8 billion.
For more information contact:G.
Robert Aston, Jr., Chairman and CEO, (757) 638-6780
TowneBank (NASDAQ:TOWN)
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