TowneBank Announces Quarterly Cash Dividend
August 23 2018 - 9:00AM
Hampton Roads based TowneBank (NASDAQ: TOWN) announced today that
its Board of Directors on August 22, 2018 declared its
third-quarter shareholder cash dividend of $0.16 per common share
payable on October 10, 2018 to shareholders of record on
September 28, 2018.
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 40 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 Raleigh, Cary, Charlotte, 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 $10.83 billion as of June 30, 2018, TowneBank is
one of the largest banks headquartered in Virginia.
Media contact:G. Robert Aston, Jr., Executive
Chairman, 757-638-6780J. Morgan Davis, President and Chief
Executive Officer, 757-673-1673
Investor contact:William B. Littreal, Chief
Financial Officer, 757-638-6813
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