TowneBank

TOWN

US89214P1093

Banks

Market Closed - Nasdaq Other stock markets 16:00:00 2024-05-17 EDT			5-day change	1st Jan Change
28.34 ^USD	+1.40%		+3.24%	-4.77%

04-24	Earnings Flash (TOWN) TOWNEBANK Posts Q1 EPS $0.48	MT
04-24	TowneBank Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

TowneBank Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2022

January 26, 2023 at 08:30 am

TowneBank reported earnings results for the fourth quarter and full year ended December 31, 2022. For the fourth quarter, the company reported net interest income was USD 128.78 million compared to USD 100.79 million a year ago. Net income was USD 46.69 million compared to USD 40.18 million a year ago. Basic earnings per share from continuing operations was USD 0.64 compared to USD 0.55 a year ago. Diluted earnings per share from continuing operations was USD 0.64 compared to USD 0.55 a year ago.
For the full year, net interest income was USD 461.37 million compared to USD 402.37 million a year ago. Net income was USD 188.99 million compared to USD 215.38 million a year ago. Basic earnings per share from continuing operations was USD 2.6 compared to USD 2.97 a year ago. Diluted earnings per share from continuing operations was USD 2.6 compared to USD 2.97 a year ago.

Latest news about TowneBank

Earnings Flash (TOWN) TOWNEBANK Posts Q1 EPS $0.48	04-24	MT
TowneBank Reports Earnings Results for the First Quarter Ended March 31, 2024	04-24	CI
Townebank Announces Retirement of Jacqueline B. Amato and Bradford L. Cherry as Members of Board of Directors	03-27	CI
TowneBank Appoints Sachin Shetty to the Board of Directors	03-05	CI
TowneBank Keeps Quarterly Dividend at $0.25 Per Share; Payable April 12 to Shareholders of Record on March 29	02-28	MT
TowneBank Declares First-Quarter Cash Dividend, Payable on April 12, 2024	02-28	CI
TowneBank's Q4 Earnings, Revenue Fall	01-25	MT
Earnings Flash (TOWN) TOWNEBANK Posts Q4 EPS $0.42	01-24	MT
TowneBank Reports Earnings Results for the Full Year Ended December 31, 2023	01-24	CI
TowneBank Reports Earnings Results for the Fourth Quarter Ended December 31, 2023	01-24	CI
TowneBank Keeps Quarterly Dividend at $0.25 a Share, Payable Jan. 12 to Shareholders of Record on Dec. 29	11-29	MT
TowneBank Announces Quarterly Cash Dividend, Payable on January 12, 2024	11-29	CI
Earnings Flash (TOWN) TOWNEBANK Posts Q3 EPS $0.60	23-10-26	MT
TowneBank Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023	23-10-26	CI
Stephens Initiates Towne Bank With Equalweight Rating, Price Target is $23	23-09-13	MT
Towne Bank to Pay Unchanged Q3 Dividend of $0.25 a Share on Oct. 13 to Shareholders of Record Sept. 29	23-08-23	MT
TowneBank Declares Cash Dividend for the Third-Quarter, Payable on October 13, 2023	23-08-23	CI
Hovde Initiates Towne Bank at Market Perform Rating With $27 Price Target	23-08-11	MT
Earnings Flash (TOWN) TOWNEBANK Posts Q2 EPS $0.52	23-07-27	MT
TowneBank Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023	23-07-27	CI
TowneBank Appoints Ernest Piccioli as Chief Risk Officer	23-06-12	CI
Towne Bank Raises Quarterly Dividend to $0.25 per Share From $0.23, Payable July 14 to Shareholders as of June 30	23-05-24	MT
TowneBank Declares Second-Quarter Shareholder Cash Dividend, Payable on July 14, 2023	23-05-24	CI
Keefe, Bruyette & Woods Adjusts Price Target on Towne Bank to $25 From $28, Maintains Market Perform Rating	23-05-08	MT
Raymond James Adjusts Price Target on Towne Bank to $28 From $34, Maintains Outperform Rating	23-05-03	MT

Chart TowneBank

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Company Profile

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.

Sector

Banks

Calendar

2024-05-22 - Annual General Meeting

Related indices

Russell 2000

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Ratings for TowneBank

Trading Rating

Investor Rating

ESG Refinitiv

D+

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Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

28.34 USD

Average target price

31 USD

Spread / Average Target

+9.39%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Other Banks

TowneBank

Equities

TOWN

US89214P1093

Banks

TowneBank Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2022

EPS Revisions