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TowneBank
5716 High Street
Phone: (757) 638-7500p:757 638-7500 PORTSMOUTH, VA  23703-4502  United States Ticker: TOWNTOWN
Business Summary
TowneBank is engaged in offering retail and commercial banking services to various markets in Virginia and North Carolina. The Company operates through three segments: Banking, Realty and Insurance. The Banking segment provides loan and deposit services to retail and commercial customers. It also provides commercial mortgage brokerage services and a variety of investment and asset management services. The Realty segment offers residential real estate services, mortgage loans, resort property management, and residential and commercial title insurance. The Insurance segment provides a full line of commercial and consumer insurance products and financial services, as well as employee benefit services. It operates over 45 banking offices (eight of which operate as Farmers Bank, a division of TowneBank) throughout Hampton Roads and Central Virginia, as well as Northeastern and Central North Carolina. Its subsidiaries include Towne Investments, LLC, TowneBank Heritage Forest, LLC and others.

Scores and Ratings
FRISK®
Score		 Z''
Score		 PAYCE®
Score		 DBT
Index		 Moody's
Rating		 Fitch
Rating		 DBRS
Rating
Yes--Yes---

Financials, News and Filings
Latest
Statement		 Last
Audit
News		 SEC
Filings		 Bankruptcy
Filings		 Suit &
Judgment
Filings		 Tax
Lien
Filings
12/31/202312/31/2023YesYes--Yes

Industries
SIC Code Description
6029 Commercial banks, not elsewhere classified
6411 Insurance agents, brokers, and service

Officers and Directors

Title
Name
Age		 Title
Date		 Start
Date
Executive Chairman of the Board G. RobertAston 77 3/29/2018 1/1/1998
President, Chief Executive Officer, Director William I.Foster 66 12/31/2022 1/1/2005
Independent Vice Chairman of the Board Jeffrey F.Benson 60 1/1/2020 6/24/2016
12 additional Officers and Directors records available in full report.

Subsidiaries
Business Name Address City State/Province Country
W. A. Moore & Company, Inc. 510 Plaza Boulevard Kinston NC United States
Paragon Commercial Bank 3535 Glenwood Ave Raleigh NC United States
Paragon Commercial Corporation 3535 Glenwood Ave RALEIGH NC United States
8 additional Subsidiary records available in full report.

Business Names
Business Name
B.H. Baird Insurance
Farmers Bank
Farmers Bankshares, Inc.
13 additional Business Names available in full report.

General Information
Number of Employees: 2,784 (As of 12/31/2023)
Outstanding Shares: 74,893,462 (As of 12/31/2023)
Shareholders: 9,105
Stock Exchange: NASD
Federal Tax Id: 541910608


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Thursday, April 25, 2024