TowneBank

TowneBank

TowneBank

Overview
Date Founded

1999

Headquarters

5716 High Street,Portsmouth, VA 23703-4502

Type of Company

Public

Employees (Worldwide)

2,490

Industries

Retail & Commercial Banking
Consumer Finance
Holding Companies

Company Description

TowneBank engages in the provision of retail and commercial banking services to individuals and small and medium size businesses. It operates through the following segments: Banking, Realty, and Insurance. The Banking segment offers loan and deposit services to retail and commercial customers. The Realty segment focuses on the provision of residential real estate services and originations of a variety of mortgage loans. The Insurance segment includes the provision of full-service commercial and retail insurance, employee benefit services, and travel insurance. The company was founded by R. Scott Morgan on September 3, 1998 and is headquartered in Portsmouth, VA.

Contact Data
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Executives & Employees

Chief Executive Officer

Chairman, Real Estate Finance

President & Chief Operating Officer

Senior Executive Vice President, Chief Financial Officer

Chief Credit Officer & Senior Executive Vice President

Director & President-Central Virginia

President, Townebank of Norfolk

President, Retail & Private Banking

President, Asset Protection Group

Board of Directors

Founder at TowneBank

Vice President at Overton Enterprises

President & Chief Operating Officer at TowneBank

Executive in Residence at Christopher Newport University - Luter School of Business

President & Owner at Johns Brothers, Inc.

Partner at Kaufman & Canoles, P.C.

Former President at Eastern Virginia Medical School

Co-Founder at Fraim & Fiorella PC

Professional at Bill Lewis Chevrolet

Former General & Thoracic Surgeon at Greenbrier Surgical Associates, P.C.

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Owners & Shareholders
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De Lisle Partners focuses on US Equities with a mid- and smaller-cap bias as these have a record of long-term outperformance. The firm combines top-down macro analysis with bottom-up stock selection.

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BCS Financial LLC is an American private company located in Johnson City, TN. The firm provides investment advice. It was founded in 1998.

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CSPIA strategically utilize both active and passive strategic investment strategies and structure highly diversified portfolios based on a stable asset allocation approach. The firm offers a range of diverse portfolios with varying risk/return mandates and executes portfolios through state of the art block trading technology and an objective open-architecture platform. Portfolios include investments in companies of all sizes and in any sector, public and private, including investments in energy, natural resources, distressed securities, real estate, venture capital and buyout, and other private equity, as well as any other business sectors or types of investments.

Recent Transactions
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TowneBank, Towne Insurance Agency LLC purchase Middle Peninsula Insurance Agency, Inc.

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TowneBank purchases Paragon Commercial Corp.

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TowneBank, Towne Insurance Agency LLC purchase W.A. Moore & Co., Inc.

Transaction Advisors
Investment Advisor

Advised onTowneBank purchases Paragon Commercial Corp.

Legal Advisor

Advised onTowneBank purchases Monarch Financial Holdings, Inc.

Investment Advisor

Advised onTowneBank purchases Harbor Bank (Newport News, Virginia)

Legal Advisor

Advised onTowneBank purchases Paragon Commercial Corp.

Legal Advisor

Advised onTowneBank purchases Paragon Commercial Corp.

Analyst

Advised onTowneBank purchases Paragon Commercial Corp.

Advisors & Consultants
Real Estate Agent

President at NAI Carolantic Realty

Consultant

Founder at TowneBank

Key Stats and Financials As of 2020
Market Capitalization
$2.43B
Total Enterprise Value
$2.69B
Earnings Per Share
$2.01
Debt TEV
0.38x
Three Year Compounded Annual Growth Rate Of Revenue
13.73%
TEVNet Income
18.51x
Enterprise Value / Sales
3.73x
Total Equity
$1.78B
Total Debt
$1.02B
Net Profit
$146M
Revenue
$723M
Political Donations
$105
2013
$2,500
2013
$3,500
2013
Suppliers
Raymond James Financial, Inc. Investment Banking & Brokerage | St. Petersburg, FL

More than a quarter of a century ago, Raymond James Financial Services, Inc. was founded with the mission to help our clients achieve their financial goals and dreams. We accomplish this through a comprehensive review of our clients’ investment objectives, combined with a conservative, long-term approach to asset allocation and a selection of superior financial products and services. It is this commitment to excellence that has made Raymond James Financial Services one of the nation’s premier investment management firms

Competitors
Bank of America Corp. Retail & Commercial Banking - Charlotte, NC

Bank of America Corp. is a bank and financial holding company, which engages in the provision of banking and nonbank financial services. It operates through the following segments: Consumer Banking, Global Wealth and Investment Management, Global Banking, Global Markets, and All Other. The Consumer Banking segment offers credit, banking, and investment products and services to consumers and small businesses. The Global Wealth and Investment Management provides client experience through a network of financial advisors focused on to meet their needs through a full set of investment management, brokerage, banking, and retirement products. The Global Banking segment deals with lending-related products and services, integrated working capital management and treasury solutions to clients, and underwriting and advisory services. The Global Markets segment includes sales and trading services, as well as research, to institutional clients across fixed-income, credit, currency, commodity, and equity businesses. The All Other segment consists of asset and liability management activities, equity investments, non-core mortgage loans and servicing activities, the net impact of periodic revisions to the mortgage servicing rights (MSR) valuation model for both core and non-core MSRs, other liquidating businesses, residual expense allocations and other.

Wells Fargo & Co. Retail & Commercial Banking - Minneapolis, MN

Wells Fargo & Co. is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance. It firm operates through the following segments: Community Banking, Wholesale Banking, Wealth & Investment Management, and Other. The Community Banking segment offers complete line of diversified financial products and services for consumers and small businesses including checking and savings accounts, credit and debit cards, and automobile, student, and small business lending. The Wholesale Banking segment provides financial solutions to businesses across the United States and globally. The Wealth and Investment Management segment includes personalized wealth management, investment and retirement products and services to clients across U.S. based businesses. The Other segment refers to the products of WIM customers served through community banking distribution channels. The company was founded by Henry Wells and William G. Fargo on March 18, 1852 and is headquartered in San Francisco, CA.

The PNC Financial Services Group, Inc. Retail & Commercial Banking - Pittsburgh, Pennsylvania

PNC Financial Services Group, Inc. is a holding company, which engages in the provision of financial services. It operates through the following segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, investment management, and cash management products and services to consumer and small business customers. The Corporate & Institutional segment covers the lending, treasury management, and capital markets-related products and services to mid-sized and large corporations, government, and not-for-profit entities. The Asset Management Group segment includes personal wealth management for high net worth and ultra high net worth clients and institutional asset management. The BlackRock segment operates as a publicly-traded investment management firm providing a range of investment, risk management and technology services to institutional and retail clients. The company was founded in 1983 and is headquartered in Pittsburgh, PA.

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