TOWN News & Events

TowneBank announced today that its board of directors declared a one-time special dividend of 70c per common share payable on May 20, to shareholders of record as of the close of business on May 4. The total dividend payout of approximately $65M represents a payment to shareholders of roughly 32% of the estimated $203M gain, before taxes and deal costs, recognized by TowneBank on the sale of its Resort Property Management business that was completed on April 3, for a purchase price of $250M. "Throughout the years we have executed on the unique strategy of building intrinsic value for our shareholders through various investments in non-bank businesses. Today's special dividend is a result of the success of our strategy," said Robert Aston, executive chairman.

Reports Q1 revenue $246.45M, consensus $252.75M. Reports Q1 tangible book value per share $21.49. "TowneBank posted a strong first quarter achieving record total revenues of $246 million. We continue to invest in top talent across our Carolina footprint while maintaining a disciplined focus on credit quality, liquidity and robust capital levels to support future growth. Our Main Street Banking model remains well positioned to perform across a broad range of economic conditions," said G. Robert Aston, Jr., Executive Chairman.

Reports Q4 revenue $219.94M, consensus $225.43M. Reports Q4 tangible book value per share $21.93. Reports Q4 CET1 capital ratio 11.34%. "We are pleased to announce record 2025 core earnings of $3.02 per share, which excludes the impacts of one-time expenses related to merger activity. This year marks a significant period of transformation for our company as we strengthened our presence in Hampton Roads, completed our expansion in the Richmond markets, and advanced our growing footprint in the Carolinas. We are firmly committed to strong credit performance, robust liquidity and healthy capital levels. As we look ahead to 2026, I want to extend my sincere appreciation to our nearly 3,000 dedicated teammates. Your leadership and commitment to our mission of Serving Others and Enriching Lives make achievements like these possible," said G. Robert Aston, executive chairman.