TowneBank Reports Full Year and Fourth Quarter Financial Results for 2025

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]