TowneBank Announces Quarterly Cash Dividend
November 22 2017 - 11:11AM
Hampton Roads based TowneBank (NASDAQ:TOWN) announced today that
its Board of Directors on November 22, 2017 declared its
fourth-quarter shareholder cash dividend of $0.14 per common share
payable on January 12, 2018 to shareholders of record on
December 29, 2017.
The amount and declaration of future cash dividends are subject
to Board of Directors’ approval in addition to regulatory
restrictions.
About TowneBank:As one of the
top community banks in Virginia and North Carolina, TowneBank
operates 37 banking offices serving Chesapeake, Chesterfield
County, Glen Allen, Hampton, James City County, Mechanicsville,
Newport News, Norfolk, Portsmouth, Richmond, Suffolk, Virginia
Beach, Williamsburg, and York County in Virginia, along with
Moyock, Grandy, Camden County, Southern Shores, Corolla and Nags
Head in North Carolina. Towne also offers a full range of
financial services through its controlled divisions and
subsidiaries that include Towne Investment Group, Towne Wealth
Management, Towne Insurance Agency, Towne Benefits, TowneBank
Mortgage, TowneBank Commercial Mortgage, Berkshire Hathaway
HomeServices Towne Realty, Towne 1031 Exchange, LLC, and Towne
Vacations. Local decision-making is a hallmark of its
hometown banking strategy that is delivered through the leadership
of each group’s President and Board of Directors. With total
assets of $8.61 billion as of September 30, 2017,
TowneBank is one of the largest banks headquartered in
Virginia.
For more information contact:G.
Robert Aston, Jr., Chairman and CEO, (757) 638-6780Clyde E.
McFarland, Jr., Senior Executive Vice President and CFO (757)
638-6801
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