Richard Cullen Richard Cullen joins the TowneBank Corporate Board of Directors SUFFOLK, Va., Feb. 02, 2026 (GLOBE NEWSWIRE) -- TowneBank (Nasdaq: TOWN) is pleased to announce the appointment of Richard Cullen to its Board of Directors. Mr. Cullen has enjoyed a distinguished legal career with decades of experience in both public service and private practice. Most recently, Mr. Cullen served as Counselor to Governor Glenn Youngkin during his term in office from 2022 to 2026. Other notable public service ...

分组1 - TowneBank reported quarterly earnings of $0.7 per share, missing the Zacks Consensus Estimate of $0.72 per share, but showing an increase from $0.55 per share a year ago, resulting in an earnings surprise of -2.78% [1] - The company posted revenues of $221.09 million for the quarter ended December 2025, which was 0.9% below the Zacks Consensus Estimate, compared to $178.26 million in revenues from the same quarter last year [2] - Over the last four quarters, TowneBank has surpassed consensus EPS estimates three times and topped consensus revenue estimates two times [2] 分组2 - The stock has gained approximately 8.6% since the beginning of the year, outperforming the S&P 500's gain of 1.9% [3] - The current consensus EPS estimate for the upcoming quarter is $0.86 on revenues of $269.3 million, and for the current fiscal year, it is $3.55 on revenues of $1.09 billion [7] - The Zacks Industry Rank for Banks - Southeast is currently in the top 23% of over 250 Zacks industries, indicating a favorable outlook for the industry [8]

SUFFOLK, Va., Jan. 28, 2026 (GLOBE NEWSWIRE) -- TowneBank (the "Company" or "Towne") (Nasdaq: TOWN) today reported financial results for the full year and fourth quarter ended December 31, 2025. For the year ended December 31, 2025, earnings were $169.53 million, or 2.21 per diluted share, compared to $161.36 million, or 2.15 per diluted share, for the year ended December 31, 2024. Excluding certain items affecting comparability, core earnings (non-GAAP) for 2025 were $231.55 million, or $3.02 per diluted s ...

Earnings Presentation 4th Quarter 2025 1 Cautionary Statements Forward Looking: This press release contains certain forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts, but instead represent only the beliefs, expectations, or opinions of TowneBank and its management regarding future events, many of which, by their nature, are inherently uncertain. Forward-looking statements may be identified by the use of such wor ...

Core Insights - TowneBank has completed its merger with Dogwood State Bank, enhancing its strategic presence along the Interstate 85 corridor and in key North Carolina markets [1][2] - The merger expands TowneBank's footprint along the Eastern North Carolina coast and includes a new location in Charleston, South Carolina [1] - Following the merger, Dogwood locations will operate as a division of TowneBank until November 2026, when systems will be fully integrated [2] Company Leadership - Steven W. Jones, former CEO of Dogwood, will serve as President of the Carolinas for the combined company and join TowneBank's Corporate Management Group [3] - George (Robin) Perkins, a former director of Dogwood, has also been appointed to the TowneBank Board of Directors [3] Strategic Goals - TowneBank aims to leverage Dogwood's experienced SBA lending team to enhance small business lending capabilities across its expanded footprint [4] - The merger is seen as a partnership that aligns with the values of both institutions, focusing on local banking and community support [4] Company Overview - TowneBank, founded in 1999, operates over 70 banking offices and offers a full range of financial services, emphasizing community enrichment and ethical standards [5][6] - With the addition of Dogwood, TowneBank's pro forma assets are projected to be approximately $22 billion as of September 30, 2025, positioning it as one of the largest banks headquartered in Virginia [6]

Group 1 - The banking sector has seen a significant number of acquisitions in 2025, with over 150 deals reported and a combined value that reflects a robust market activity [1] - The financial markets are considered efficient, with most stocks accurately reflecting their current value, suggesting that opportunities for profit may lie in less-followed stocks or those mispriced in their markets [1]

Core Viewpoint - Dogwood State Bank's shareholders have approved the merger with TowneBank, which is expected to close in early Q1 2026, pending regulatory approvals [1][2]. Company Overview - Dogwood State Bank is a community bank based in Raleigh, North Carolina, with total assets of approximately $2.4 billion [2]. - The bank offers a variety of banking products and services, including online offerings and branch offices in North Carolina, South Carolina, and Eastern Tennessee [2]. - Dogwood specializes in lending services for small businesses through its dedicated Small Business Lending division [2]. Merger Details - The merger approval represents a significant milestone for Dogwood State Bank, as stated by CEO Steve Jones [2]. - The completion of the merger is contingent upon meeting customary closing conditions, including obtaining necessary regulatory approvals [1].

Group 1 - The article does not provide any relevant content regarding company or industry insights [1]

Core Insights - TowneBank reported quarterly earnings of $0.83 per share, exceeding the Zacks Consensus Estimate of $0.75 per share, and showing an increase from $0.58 per share a year ago, resulting in an earnings surprise of +10.67% [1] - The bank's revenues for the quarter ended September 2025 were $216.75 million, slightly missing the Zacks Consensus Estimate by 0.62%, but up from $175.63 million year-over-year [2] - TowneBank has surpassed consensus EPS estimates in all four of the last quarters and has topped revenue estimates three times during the same period [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.72, with expected revenues of $223.3 million, while the estimate for the current fiscal year is $2.93 on revenues of $837.8 million [7] - The stock currently holds a Zacks Rank 3 (Hold), indicating it is expected to perform in line with the market in the near future [6] Industry Context - The Banks - Southeast industry, to which TowneBank belongs, is currently ranked in the top 26% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Core Insights - TowneBank reported a net income of $38.98 million, or $0.51 per diluted share, for Q3 2025, a decrease from $42.95 million, or $0.57 per diluted share, in Q3 2024. However, core earnings (non-GAAP) increased to $63.45 million, or $0.83 per diluted share, compared to $43.39 million, or $0.58 per diluted share, in the same quarter last year [1][6][24]. Financial Performance - Total revenue for Q3 2025 was $215.67 million, reflecting a year-over-year increase of 23.58% or $41.15 million [6][24]. - Net interest income rose to $146.95 million, up from $112.28 million in Q3 2024, driven by increased interest income and lower deposit costs [7][12]. - Noninterest income increased by $6.48 million, or 10.41%, totaling $68.71 million compared to $62.24 million in Q3 2024 [12][19]. Asset and Deposit Growth - Total deposits reached $16.53 billion, an increase of $2.17 billion, or 15.09%, compared to Q3 2024 [6][19]. - Loans held for investment increased to $13.38 billion, a rise of $1.97 billion, or 17.23%, year-over-year [19][30]. - Noninterest-bearing deposits grew by 20.43% to $5.14 billion, representing 31.09% of total deposits [19][30]. Acquisition Impact - The acquisition of Old Point Financial Corporation was completed in September 2025, adding $961.35 million in loans, $208.83 million in securities, and $1.21 billion in deposits [6][19]. - The integration of Village Bank and Trust Financial Corp. was largely completed, with ongoing efforts to finalize the Dogwood partnership and integrate Old Point systems expected in early 2026 [4][6]. Credit Quality and Provisions - The quarterly provision for credit losses was an expense of $15.28 million, compared to a benefit of $1.10 million in the prior year quarter [12][19]. - Nonperforming assets were $10.38 million, or 0.05% of total assets, an increase from $7.47 million, or 0.04%, at September 30, 2024 [19][30]. Capital Ratios - Common equity tier 1 capital ratio stood at 11.18%, while the total risk-based capital ratio was 13.99% [19][30]. - Book value per common share increased to $30.38 from $28.59 a year earlier [19][30].