TowneBank

TowneBank Repurchases Warrant From U.S. Treasury

SUFFOLK, Va., May 15, 2013 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (Nasdaq:TOWN) announced today that it completed the repurchase of the warrant issued to the United States Department of the Treasury as part of the TARP Capital Purchase Program. The warrant provided the right to purchase 554,330 shares of TowneBank common stock at $20.69 per share.  TowneBank and the U.S. Treasury agreed upon a repurchase price of $1.5 million for the warrant.

TowneBank

TowneBank Announces Cash Dividend on Preferred Stock

SUFFOLK, Va., April 25, 2013 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (Nasdaq:TOWN) announced today that its Board of Directors on April 24, 2013 declared a quarterly cash dividend of $2.00 per preferred share on its 8% Non-Cumulative Convertible Preferred Stock, Series A. The dividend is payable on June 3, 2013 to shareholders of record on May 17, 2013.

TowneBank

TowneBank Reports Record First Quarter Earnings

SUFFOLK, Va., April 25, 2013 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (the "Bank") (Nasdaq:TOWN) reported record earnings of $10.47 million for the quarter ended March 31, 2013, a 10.97% increase, or $1.04 million, over the $9.44 million reported for the comparative period in 2012.

TowneBank

TowneBank Announces Quarterly Cash Dividends and Annual Shareholder Meeting Date

SUFFOLK, Va., Feb. 28, 2013 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (Nasdaq:TOWN) announced today that its Board of Directors on February 27, 2013 declared its first-quarter shareholder cash dividend of $0.09 per common share payable on April 12, 2013 to shareholders of record on March 29, 2013.

TowneBank

TowneBank Announces Insurance Acquisition

SUFFOLK, Va., Feb. 1, 2013 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (Nasdaq:TOWN) announced that The Clement Companies, Inc., insurance agency will affiliate with Towne Insurance Agency, a wholly owned subsidiary of TowneBank. This continues Towne Insurance's expansion into North Carolina.

TowneBank

TowneBank Reports Record Annual Earnings

SUFFOLK, Va., Feb. 1, 2013 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (the "Bank") (Nasdaq:TOWN) reported record earnings of $37.93 million for the year ended December 31, 2012, a 13.84% increase, or $4.61 million, over the $33.32 million reported for 2011. Net income available to common shareholders for 2012 increased 38.53% to $31.71 million after preferred dividend payments of $6.23 million. Fully diluted earnings of $1.03 per share grew 35.53%, as compared to $0.76 in 2011.

TowneBank

TowneBank Announces Cash Dividend on Preferred Stock

SUFFOLK, Va., Jan. 24, 2013 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (Nasdaq:TOWN) announced today that its Board of Directors on January 23, 2013 declared a quarterly cash dividend of $2.00 per preferred share on its 8% Non-Cumulative Convertible Preferred Stock, Series A. The dividend is payable on March 1, 2013 to shareholders of record on February 15, 2013. 

TowneBank

TowneBank Announces Quarterly Cash Dividends

SUFFOLK, Va., Nov. 28, 2012 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (Nasdaq:TOWN) announced today that its Board of Directors approved a 12.5% increase in the quarterly common stock cash dividend to $0.09 per common share, or $0.36 per common share on an annual basis. The Board of Directors on November 28, 2012 declared its fourth-quarter shareholder cash dividend of $0.09 per common share payable on December 28, 2012 to shareholders of record on December 7, 2012.

TowneBank

TowneBank Announces New Mortgage Chairman and President

SUFFOLK, Va., Oct. 31, 2012 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (Nasdaq:TOWN) has announced the appointment of Jacqueline B. Amato as Chairman and CEO of TowneBank Mortgage. Amato has served as President of TowneBank Mortgage since its founding in 2000. Under her leadership, the company has expanded from Hampton Roads to Raleigh, NC; Richmond, VA and Roanoke, VA, originating more than $1 billion in loans annually. TowneBank Mortgage is currently one of the largest mortgage companies in Virginia.

TowneBank

TowneBank Announces Cash Dividend on Preferred Stock

SUFFOLK, Va., Oct. 24, 2012 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (Nasdaq:TOWN) announced today that its Board of Directors on October 24, 2012 declared a quarterly cash dividend of $2.00 per preferred share on its 8% Non-Cumulative Convertible Preferred Stock, Series A. The dividend is payable on December 3, 2012 to shareholders of record on November 15, 2012.