TowneBank
 | |
| Company type | Public company |
|---|---|
| Nasdaq: TOWN Russell 3000 component | |
| Industry | Financial services |
| Founded | September 3, 1998 |
| Headquarters | Suffolk, Virginia, U.S. |
Number of locations | 44 branches |
Key people | Bob Aston, chairman Billy Foster, president and chief executive officer |
| Products | Banking, investments |
| Revenue |  $686.935 million (2022) |
 $188.987 million (2022) | |
| Total assets | $15.845 billion (2022) |
| Total equity | $1.889 billion (2022) |
Number of employees | 2,766 (2022) |
| Website | www |
| Footnotes / references [1] | |
TowneBank is a bank headquartered in Suffolk, Virginia with 44 branches in Virginia and North Carolina. They have owned the naming rights to TowneBank Stadium and TowneBank Tower at Dowdy–Ficklen Stadium since 2019.[2]
While remaining headquartered in Suffolk, their financial services wing, which includes mortgage, insurance, and benefits, operates out of the TowneBank Building in Downtown Norfolk, Virginia.[3]
On August 19, 2025, TowneBank announced plans to acquire Dogwood State Bank, a Raleigh-based community bank, in an all-stock transaction valued at $476.2 million.[4] As of June 30, 2025, Dogwood State Bank had $2.4 billion in assets and operated 17 branches in North Carolina, South Carolina, and Tennessee.[4][5] The deal requires regulatory approval and is expected to close in 2026.[4][5]
References
- ^ "TowneBank 2022 Annual Report" (PDF). TowneBank. Retrieved March 23, 2023.
- ^ "Christopher Newport University announces new football stadium name". 13 News Now. August 16, 2019. Retrieved March 23, 2023.
- ^ "TowneBank and CHKD buy Norfolk Southern building in downtown Norfolk". WAVY.com. 2020-06-24. Retrieved 2023-06-15.
- ^ a b c Ohnesorge, Lauren (19 August 2025). "Raleigh bank to be acquired, creating $22B institution". Triangle Business Journal. American City Business Journals. Retrieved 19 August 2025.
- ^ a b Mildenberg, David (19 August 2025). "TowneBank buying Raleigh's Dogwood for $476M". Business North Carolina. Retrieved 19 August 2025.
External links