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TowneBank (TOWN) came out with quarterly earnings of $0.83 per share, beating the Zacks Consensus Estimate of $0.75 per share. This compares to earnings of $0.58 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +10.67%. A quarter ago, it was expected that this community bank would post earnings of $0.69 per share when it actually produced earnings of $0.81, delivering a surprise of +17.39%.Over the last four quarters, the compa ...

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].

Company Overview - TowneBank (TOWN) is a community bank headquartered in Portsmouth, experiencing a price change of -1.5% this year [3] - The bank currently pays a dividend of $0.27 per share, resulting in a dividend yield of 3.22%, which is higher than the Banks - Southeast industry's yield of 2.36% and the S&P 500's yield of 1.48% [3] Dividend Performance - TowneBank's annualized dividend is $1.08, reflecting an 8% increase from the previous year [4] - Over the last five years, the bank has increased its dividend four times, achieving an average annual increase of 8.72% [4] - The current payout ratio is 41%, indicating that the bank pays out 41% of its trailing 12-month earnings per share as dividends [4] Earnings Expectations - The Zacks Consensus Estimate for TowneBank's earnings in 2025 is $2.93 per share, with an expected increase of 34.40% from the previous year [5] - Future dividend growth will depend on earnings growth and the payout ratio [4] Investment Considerations - TowneBank is considered a compelling investment opportunity due to its strong dividend performance and current Zacks Rank of 3 (Hold) [6] - Income investors should note that high-yielding stocks may face challenges during periods of rising interest rates [6]

Wall Street expects a year-over-year increase in earnings on higher revenues when TowneBank (TOWN) reports results for the quarter ended September 2025. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report. On the other hand, if they miss, the stock may ...

Company Overview - TowneBank (TOWN) is based in Portsmouth and operates in the Finance sector, with a year-to-date share price change of 1.09% [3] - The company currently pays a dividend of $0.27 per share, resulting in a dividend yield of 3.14%, which is higher than the Banks - Southeast industry's yield of 2.28% and the S&P 500's yield of 1.5% [3] Dividend Performance - TowneBank's annualized dividend of $1.08 has increased by 8% from the previous year [4] - Over the last five years, the company has raised its dividend four times, achieving an average annual increase of 8.72% [4] - The current payout ratio is 41%, indicating that the company pays out 41% of its trailing 12-month earnings per share as dividends [4] Earnings Growth Expectations - For the fiscal year 2025, the Zacks Consensus Estimate predicts earnings of $3.00 per share, reflecting a year-over-year growth rate of 37.61% [5] Investment Considerations - TowneBank is considered a compelling investment opportunity due to its strong dividend profile and favorable earnings growth outlook [6] - The stock currently holds a Zacks Rank of 3 (Hold), suggesting a stable investment position [6]

Company Overview - TowneBank (TOWN) is a community bank headquartered in Portsmouth, operating in the Finance sector [3] - The stock has experienced a price change of 5.58% since the beginning of the year [3] Dividend Information - TowneBank currently pays a dividend of $0.27 per share, resulting in a dividend yield of 3%, which is higher than the Banks - Southeast industry's yield of 2.23% and the S&P 500's yield of 1.51% [3] - The company's annualized dividend of $1.08 has increased by 8% from the previous year [4] - Over the last five years, TowneBank has raised its dividend four times, achieving an average annual increase of 8.72% [4] - The current payout ratio is 41%, indicating that the company pays out 41% of its trailing 12-month earnings per share as dividends [4] Earnings Growth - The Zacks Consensus Estimate for TowneBank's earnings in 2025 is $3.00 per share, reflecting a year-over-year earnings growth rate of 37.61% [5] Investment Appeal - TowneBank is considered an attractive dividend play and a compelling investment opportunity, holding a Zacks Rank of 2 (Buy) [6]

Core Viewpoint - TowneBank has successfully completed its merger with Old Point Financial Corporation, enhancing its market position in the Hampton Roads MSA through the addition of a high-quality core deposit franchise [1][2]. Company Overview - TowneBank, founded in 1999, focuses on building relationships and offers a comprehensive range of banking and financial services, emphasizing a culture of caring and valuing diverse talents [4]. - As of June 30, 2025, TowneBank has total assets of $18.26 billion, making it one of the largest banks headquartered in Virginia [5]. Merger Details - The merger became effective on September 1, 2025, with Old Point National Bank locations operating as "Old Point National Bank, a Division of TowneBank" until February 2026, when systems will be fully integrated [2]. - Old Point Wealth Management will continue to operate under its brand as part of the TowneBank family [2]. Leadership Changes - Following the merger, Robert F. Shuford, Jr., former chairman and CEO of Old Point, has been appointed as a senior executive vice president and will serve as chairman of the TowneBank Peninsula board starting January 1, 2026 [3]. Community Commitment - Both institutions are committed to serving their communities, employees, and shareholders, aiming to build a stronger future together [3].

Core Viewpoint - TowneBank has agreed to acquire Dogwood State Bank to expand its presence in the high-growth markets of the Carolinas, with the transaction expected to close in early 2026, pending regulatory and shareholder approvals [1]. Company Acquisition Details - The acquisition will involve Dogwood shareholders receiving a fixed exchange ratio of 0.700 shares of TowneBank common stock for each outstanding share, valuing the deal at $25.04 per share or $476.2 million [3][7]. - The transaction is anticipated to incur one-time merger and integration costs of $45 million, with expected cost savings of 35% of non-interest expenses, primarily realized in 2026 [4][7]. Financial Impact - TowneBank expects the acquisition to be 8% accretive to its earnings per share by 2027, with a tangible book value per share dilution of 6% at closing and an earn-back period of less than 4 years [4][7]. - The acquisition is expected to enhance TowneBank's position as a premier regional banking company in the Southeast [5]. Leadership and Integration - Steve Jones, the CEO of Dogwood, will continue in a key leadership role as president of TowneBank's North Carolina and South Carolina banking operations [2]. Market Performance - Year-to-date, TowneBank's shares have increased by 3.9%, outperforming the industry growth of 1.8% [6].

Core Viewpoint - TowneBank is set to acquire Dogwood State Bank, enhancing its market presence in North Carolina and South Carolina, particularly along the Interstate 85 corridor and the Eastern North Carolina coast [1][2]. Group 1: Merger Details - The merger agreement stipulates that Dogwood's common shareholders will receive 0.700 shares of TowneBank common stock for each share of Dogwood, valuing the deal at approximately $476.2 million based on TowneBank's stock price [3]. - The combined entity will have total assets of approximately $22 billion, loans of about $16 billion, and deposits around $19 billion upon completion of the transactions [2]. Group 2: Leadership and Management - Steve Jones, CEO of Dogwood, will take on a key leadership role as President of North Carolina and South Carolina banking operations within TowneBank [4]. - Robin Perkins, a current director at Dogwood, will join TowneBank's Corporate Board of Directors following the merger [6]. Group 3: Strategic Implications - The acquisition is expected to be approximately 8.0% accretive to TowneBank's earnings per share for 2027, with fully phased-in cost savings anticipated [2]. - The merger will expand TowneBank's footprint in key markets, including Raleigh, Greensboro-Winston Salem, Greenville, Charlotte, and along the Eastern North Carolina coast [1]. Group 4: Company Backgrounds - TowneBank, founded in 1999, operates over 55 banking offices and has total assets of $18.26 billion as of June 30, 2025 [8][10]. - Dogwood State Bank, headquartered in Raleigh, North Carolina, has approximately $2.4 billion in total assets and focuses on small business lending [11].