Core Insights - TowneBank has appointed Richard Cullen to its Board of Directors, enhancing its leadership team with his extensive experience in both public service and private practice [1][4]. Group 1: Richard Cullen's Background - Richard Cullen has a distinguished legal career, having served as Counselor to Governor Glenn Youngkin from 2022 to 2026, and previously as Attorney General of Virginia and United States Attorney for the Eastern District of Virginia [2]. - Cullen has spent a significant portion of his career at McGuireWoods, LLP, where he was Chairman for over a decade before transitioning to a partner role at Torridon Law PLLC in Washington, D.C. [2]. Group 2: TowneBank Overview - Founded in 1999, TowneBank focuses on building relationships and offers a comprehensive range of banking and financial services, emphasizing a culture of caring and diversity [4]. - TowneBank operates over 70 banking offices across various regions, including Hampton Roads, Central Virginia, and parts of North and South Carolina, positioning itself as a local leader in community growth [5]. - Following the acquisition of Dogwood State Bank on January 12, 2026, TowneBank's pro forma assets are approximately $22 billion as of December 31, 2025, making it one of the largest banks headquartered in Virginia [5].

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]

Core Insights - TowneBank reported a record core earnings of $3.02 per share for 2025, marking a significant transformation period for the company with expansions in various markets [2][3] - The company achieved total revenues of $835.72 million in 2025, an increase of 20.5% from $693.29 million in 2024, driven by higher net interest income and noninterest income [7][3] - The bank's total assets reached $19.69 billion, up 14.21% from $17.24 billion in 2024, reflecting growth from recent acquisitions [11][3] Annual Highlights for 2025 Compared to 2024 - Earnings for 2025 were $169.53 million, or $2.21 per diluted share, compared to $161.36 million, or $2.15 per diluted share, in 2024 [1] - Core earnings (non-GAAP) for 2025 were $231.55 million, or $3.02 per diluted share, compared to $163.24 million, or $2.17 per diluted share, in 2024 [1] - Total deposits increased by $2.07 billion, or 14.35%, to $16.51 billion compared to the previous year [21][3] Fourth Quarter Highlights for 2025 - Fourth quarter earnings were $40.63 million, or $0.51 per diluted share, compared to $39.97 million, or $0.53 per diluted share, in the same quarter of 2024 [1] - Total revenues for the fourth quarter were $219.94 million, an increase of 25.29% from the prior year quarter [7][3] - Net interest income for the fourth quarter increased by $40.91 million, or 34.65%, driven by increased loan interest income [12][3] Balance Sheet and Asset Quality - Loans held for investment increased by $1.88 billion, or 16.38%, from December 31, 2024, totaling $13.34 billion [21][3] - Nonperforming assets were $14.36 million, or 0.07% of total assets, compared to $7.87 million, or 0.05% of total assets, at December 31, 2024 [21][3] - The allowance for credit losses on loans represented 1.10% of total loans at December 31, 2025, compared to 1.08% at December 31, 2024 [21][3] Capital and Regulatory Ratios - Common equity tier 1 capital ratio was 11.34%, and total risk-based capital ratio was 14.14% [21][3] - Book value per share increased to $30.67 from $28.33 at December 31, 2024 [21][3] - Tangible book value per share (non-GAAP) was $21.93, up from $21.44 at December 31, 2024 [21][3]

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].