TowneBank is headquartered in Portsmouth and is the 7th largest bank in the state of Virginia. It is also the 119th largest bank in the nation. It was established in 1999 and as of June of 2021, it had grown to 2,536 employees at 44 locations. TowneBank has an A+ health rating.
Great local bank with good customer service. I was looking for a bank that had a strong footprint in the city and this bank fit the bill. I enjoy seeing the way that Towne Bank supports community initiatives and really make an effort to reach out to the locals and make them feel their business is appreciated. For this reason, I also have financed my car through the, I am really satisfied with all of the products they offer and will continue to bank with them in the future.
|FDIC Certificate #||35095|
|Return on Assets - YTD||1.65%|
|Return on Equity - YTD||13.81%|
|Annual Interest Income||$224.2MM|
|Assets and Liabilities|
|Assets||Q2 2021vs Q2 2020||$15.80B$15.58B|
|Loans||Q2 2021vs Q2 2020||$9.87B$10.32B|
|Deposits||Q2 2021vs Q2 2020||$13.08B$11.32B|
|Equity Capital||Q2 2021vs Q2 2020||$1.85B$1.71B|
|Loan Loss Allowance||Q2 2021vs Q2 2020||$108.1MM$90.5MM|
|Unbacked Noncurrent Loans||Q2 2021vs Q2 2020||$12.8MM$17.4MM|
|Real Estate Owned||Q2 2021vs Q2 2020||$3.9MM$12.1MM|
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