TowneBank (TOWN) 10-Year Financial Performance & Capital Metrics

TOWN • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingSoutheast Community Banks

AboutTowneBank provides retail and commercial banking services for individuals, commercial enterprises, and professionals. The company operates through three segments: Banking, Realty, and Insurance. It accepts various deposits, including demand deposits, savings accounts, money rate savings, certificates of deposit, and individual retirement accounts. The company also offers secured and unsecured personal loans for financing automobiles, home improvements, education, and personal investments; commercial loans for working capital, business expansion, and equipment and machinery purchases; and mortgage loans, as well as real estate acquisition, development, and construction loans. In addition, it provides other services, such as safe deposit boxes, treasury management services, direct deposit of payroll and social security checks, and automatic drafts for various accounts, as well as online, mobile, and on-call banking services. Further, the company offers documentation services to accomplish tax deferral to investors; investment and asset management services; commercial mortgage brokerage services; and other financial services, such as financial, retirement, and estate planning services, as well as assistance on various investment options comprising alternative investments, annuities, margin accounts, convertible bonds, and pension and profit-sharing plans. Additionally, it provides residential real estate, relocation, property management, vacations rental, and title and settlement services; and originates residential mortgage loans. The company also offers life, property, casualty, and vehicle insurance services; and employee benefit programs, such as health, dental, vision, and disability insurance. It operates in Richmond, Virginia, the Greater Hampton Roads region in southeastern Virginia, northeastern North Carolina, Raleigh, Charlotte, Greensboro, and Greenville, North Carolina. TowneBank was incorporated in 1998 and is headquartered in Portsmouth, Virginia.Show more

Net Interest Income $443M -3.3%
Total Revenue $1.02B +8.7%
Net Income $162M +5.2%
Return on Equity 7.68% -1.4%
Net Interest Margin 2.57% -5.6%
Efficiency Ratio 49.07% -5.6%
ROA 0.95% +0.9%
Equity / Assets 12.5% +2.3%
Book Value per Share 28.66 +4.1%
Tangible BV/Share 21.77 +5.9%
Debt/Equity 0.14 -42.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 49.1% efficiency ratio
✓Well capitalized: 12.5% equity/assets
✓Healthy dividend yield of 2.8%
✓Trading at only 1.2x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y14.31%

5Y8.78%

3Y12.47%

TTM-

Profit (Net Income) CAGR

10Y14.39%

5Y3.11%

3Y-9.1%

TTM14.84%

EPS CAGR

10Y6.18%

5Y2.29%

3Y-10.21%

TTM14.36%

ROCE

10Y Avg7.46%

5Y Avg7.93%

3Y Avg7.55%

Latest6.7%

Peer Comparison

Southeast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
FFINFirst Financial Bankshares, Inc.	4.68B	32.65	20.93	18.79%	30.24%	14.14%	6.26%	0.12
FHNFirst Horizon Corporation	11.85B	24.44	17.97	4.71%	15.7%	9.58%	10.33%	0.50
AUBAtlantic Union Bankshares Corporation	5.47B	38.36	17.13	28.8%	15.53%	4.22%	5.51%	0.17
UCBUnited Community Banks, Inc.	4.09B	33.91	16.62	14.65%	17.05%	8.83%	7.4%	0.13
SNVSynovus Financial Corp.	6.95B	50.05	16.52	1.16%	14.09%	13.7%	11.01%	0.35
PNFPPinnacle Financial Partners, Inc.	14.67B	97.65	16.38	15.32%	16.65%	9.1%	5.5%	0.39
CADECadence Bank	8.27B	44.40	16.03	32.37%	18.03%	9.08%	9.39%	0.01
ABCBAmeris Bancorp	5.56B	81.41	15.69	9.75%	21.97%	9.91%	2.53%	0.11

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	180.44M	218.88M	261.12M	341.07M	358.36M	380.14M	402.37M	461.37M	457.78M	442.61M
NII Growth %	0.24%	0.21%	0.19%	0.31%	0.05%	0.06%	0.06%	0.15%	-0.01%	-0.03%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	212.87M	254.62M	305.1M	421.82M	467.82M	460.16M	443.45M	517.94M	705.24M	774.53M
Interest Expense	32.43M	35.74M	43.98M	80.75M	109.47M	80.02M	41.08M	56.57M	247.46M	331.92M
Loan Loss Provision	3.03M	5.36M	5.43M	8.54M	9.37M	67.18M	-16.77M	8.61M	18.68M	-548K
Non-Interest Income+	116.74M	154.31M	187.28M	190.93M	204.88M	282.09M	276.63M	225.01M	237.31M	249.9M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	329.62M	408.93M	492.39M	612.75M	672.71M	742.25M	720.08M	742.95M	942.55M	1.02B
Revenue Growth %	0.23%	0.24%	0.2%	0.24%	0.1%	0.1%	-0.03%	0.03%	0.27%	0.09%
Non-Interest Expense	201.62M	266.92M	295.38M	351.46M	377.6M	393.72M	415.94M	440.72M	490.19M	502.67M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	92.54M	100.91M	147.6M	172M	176.27M	201.33M	279.83M	237.05M	186.22M	190.48M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.47%	0.09%	0.46%	0.17%	0.02%	0.14%	0.39%	-0.15%	-0.21%	0.02%
Pretax Income+	92.54M	100.91M	147.6M	172M	176.27M	201.33M	279.83M	237.05M	186.22M	190.38M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	26.88M	28.7M	54.81M	34.23M	32.6M	31.9M	54.8M	46.58M	31.09M	27.65M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	62.38M	67.25M	87.66M	133.79M	138.78M	145.53M	215.38M	188.99M	153.72M	161.76M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.48%	0.08%	0.3%	0.53%	0.04%	0.05%	0.48%	-0.12%	-0.19%	0.05%
Net Income (Continuing)	65.67M	72.22M	92.79M	137.77M	143.67M	169.43M	225.03M	190.47M	155.14M	162.73M
EPS (Diluted)+	1.22	1.18	1.41	1.88	1.92	2.01	2.97	2.60	2.06	2.15
EPS Growth %	0.03%	-0.03%	0.19%	0.33%	0.02%	0.05%	0.48%	-0.12%	-0.21%	0.04%
EPS (Basic)	1.22	1.18	1.41	1.88	1.93	2.01	2.97	2.60	2.06	2.16
Diluted Shares Outstanding	51.16M	56.84M	62.39M	71.29M	72.19M	72.35M	72.56M	72.58M	74.66M	75.23M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	251.84M	136.55M	521.19M	686.7M	442.62M	1.86B	3.3B	1.15B	1.13B	1.34B
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	5.38B	6.96B	7.14B	9.34B	10.27B	11.44B	11.73B	13.18B	13.97B	14.11B
Investments Growth %	0.25%	0.29%	0.03%	0.31%	0.1%	0.11%	0.02%	0.12%	0.06%	0.01%
Long-Term Investments	4.65B	6.15B	6.28B	8.24B	8.83B	10.07B	9.92B	11.34B	11.84B	14.05B
Accounts Receivables	0	0	0	0	0	0	0	0	0	0
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	154.84M	264.91M	270.25M	433.66M	446.82M	452.33M	457.19M	458.48M	456.33M	457.62M
Intangible Assets	26.15M	37.86M	38.57M	58.75M	54.4M	45.53M	50.38M	43.16M	64.63M	60.17M
PP&E (Net)	173.69M	198.57M	194.9M	211.8M	231.81M	260.24M	270.77M	304.8M	337.6M	368.88M
Other Assets	314.13M	377.3M	353.22M	434.27M	500.28M	563.21M	560.85M	704.15M	874.93M	907.42M
Total Current Assets	975.33M	949.52M	1.39B	1.78B	1.88B	3.23B	5.1B	2.99B	3.26B	1.4B
Total Non-Current Assets	5.32B	7.02B	7.13B	9.38B	10.06B	11.39B	11.26B	12.85B	13.58B	15.85B
Total Assets+	6.3B	7.97B	8.52B	11.16B	11.95B	14.63B	16.36B	15.85B	16.84B	17.25B
Asset Growth %	0.26%	0.27%	0.07%	0.31%	0.07%	0.22%	0.12%	-0.03%	0.06%	0.02%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Total Debt+	466.51M	720.05M	798.97M	1.09B	772.54M	772.88M	481.82M	318.01M	492.58M	296.9M
Net Debt	214.68M	583.5M	277.78M	407.64M	329.92M	-1.09B	-2.81B	-834.82M	-635.78M	-1.04B
Long-Term Debt	429.08M	687.51M	774.12M	1.05B	720.14M	705.09M	405.02M	277.09M	459.75M	263.22M
Short-Term Debt	37.43M	32.54M	24.85M	47.16M	52.39M	67.79M	76.8M	40.92M	32.83M	33.68M
Other Liabilities	95.84M	132.11M	132.48M	159.86M	250.52M	496.57M	389.77M	344.27M	393.38M	357.06M
Total Current Liabilities	4.95B	6.07B	6.47B	8.42B	9.32B	11.64B	13.65B	13.34B	13.93B	14.47B
Total Non-Current Liabilities	524.92M	819.62M	906.6M	1.21B	970.66M	1.2B	794.79M	621.37M	853.13M	620.28M
Total Liabilities	5.48B	6.89B	7.38B	9.62B	10.29B	12.84B	14.45B	13.96B	14.78B	15.09B
Total Equity+	820.19M	1.09B	1.14B	1.54B	1.65B	1.78B	1.92B	1.89B	2.06B	2.16B
Equity Growth %	0.33%	0.32%	0.05%	0.35%	0.07%	0.08%	0.07%	-0.01%	0.09%	0.05%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.09%	0.07%	0.08%	0.1%	0.09%	0.08%	0.12%	0.1%	0.08%	0.08%
Book Value per Share	16.03	19.12	18.31	21.58	22.91	24.66	26.41	26.02	27.54	28.66
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	86.03M	104.17M	104.4M	120.8M	121.11M	121.13M	121.16M	121.43M	124.85M	125.45M
Additional Paid-in Capital	535.09M	745.41M	749.8M	1.03B	1.04B	1.05B	1.05B	1.05B	1.11B	1.12B
Retained Earnings	192.79M	229.5M	282.73M	379.24M	467.19M	557.89M	716.61M	840.78M	921.13M	1.01B
Accumulated OCI	-2.99M	-3.99M	-5.69M	-9.19M	11.3M	41.18M	10.6M	-140.5M	-118.76M	-116.05M
Treasury Stock	-10.17M	-11.17M	-12.52M	-13.96M	-15.55M	0	0	0	0	0
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	81.09M	185.04M	141.08M	317.6M	10.31M	127.89M	518.82M	415.5M	161.3M	138.36M
Operating CF Growth %	0.82%	1.28%	-0.24%	1.25%	-0.97%	11.4%	3.06%	-0.2%	-0.61%	-0.14%
Net Income	65.67M	72.22M	92.79M	137.77M	143.67M	169.43M	225.03M	190.47M	155.14M	161.76M
Depreciation & Amortization	16.15M	20.55M	24.5M	28.72M	29.37M	29.06M	28.8M	28.7M	34.22M	35.07M
Deferred Taxes	3.67M	3.15M	570K	1.3M	-4.78M	-16.87M	143K	10.37M	-3.32M	-11.63M
Other Non-Cash Items	-30.48M	74.32M	3.52M	96.56M	-194.12M	-83.41M	168.29M	270.77M	-38.28M	-57.27M
Working Capital Changes	24.16M	12.1M	16.99M	50.34M	30.83M	24.19M	90.92M	-90.02M	6.52M	2.55M
Cash from Investing+	-98.47M	-500.59M	-209.38M	-646.86M	-779.62M	-1.12B	-547.36M	-2.05B	-335.68M	-202.77M
Purchase of Investments	-515.71M	-980.09M	-1.14B	-971.54M	-808.45M	-454.3M	-839.02M	-890.25M	-244.64M	-563.95M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	241.33M	61.93M	-11.47M	61.1M	-19.75M	9.39M	-26.08M	-2.42M	17.78M	-10.07M
Other Investing	-427.17M	-458.3M	-131.53M	-627.34M	-384.21M	-1.19B	146.05M	-1.28B	-266.39M	-109.13M
Cash from Financing+	55.22M	200.79M	452.94M	494.76M	525.23M	2.41B	1.46B	-512.1M	149.9M	275.53M
Dividends Paid	-21.98M	-30.54M	-34.44M	-44.86M	-49.38M	-52.24M	-55.29M	-62.75M	-71.38M	-75.02M
Share Repurchases	-76.46M	0	0	0	0	0	0	0	0	0
Stock Issued	0	2.26M	2.17M	2.61M	1.46M	911K	0	0	0	3.58M
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	1000K	1000K	-1000K	-1000K	1000K	-1000K	-1000K	1000K	-1000K
Other Financing	381.46M	58.37M	406.39M	668.97M	895.53M	2.28B	1.99B	-284.68M	81.37M	543.5M
Net Change in Cash+	37.83M	-115.29M	384.64M	165.51M	-244.08M	1.42B	1.43B	-2.14B	-24.47M	211.12M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	214M	251.84M	136.55M	521.19M	686.7M	442.62M	1.86B	3.3B	1.15B	1.13B
Cash at End	251.84M	136.55M	521.19M	686.7M	442.62M	1.86B	3.3B	1.15B	1.13B	1.34B
Interest Paid	31.93M	35.09M	38.26M	58.58M	108.41M	83.85M	44.4M	55.06M	230.46M	334.25M
Income Taxes Paid	15.13M	23.46M	35.97M	24.61M	28.07M	35.15M	51.01M	24.18M	13.45M	1.95M
Free Cash Flow+	57.77M	166.98M	127.63M	296.75M	-26.4M	82.1M	487.62M	363.22M	117.17M	81.09M
FCF Growth %	0.77%	1.89%	-0.24%	1.33%	-1.09%	4.11%	4.94%	-0.26%	-0.68%	-0.31%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	8.67%	7.05%	7.87%	9.98%	8.7%	8.47%	11.64%	9.93%	7.79%	7.68%
Return on Assets (ROA)	1.11%	0.94%	1.06%	1.36%	1.2%	1.1%	1.39%	1.17%	0.94%	0.95%
Net Interest Margin	2.87%	2.74%	3.06%	3.06%	3%	2.6%	2.46%	2.91%	2.72%	2.57%
Efficiency Ratio	61.17%	65.27%	59.99%	57.36%	56.13%	53.04%	57.76%	59.32%	52.01%	49.07%
Equity / Assets	13.03%	13.63%	13.41%	13.78%	13.84%	12.2%	11.71%	11.92%	12.21%	12.5%
Book Value / Share	16.03	19.12	18.31	21.58	22.91	24.66	26.41	26.02	27.54	28.66
NII Growth	23.81%	21.3%	19.3%	30.62%	5.07%	6.08%	5.85%	14.66%	-0.78%	-3.31%
Dividend Payout	35.24%	45.42%	39.28%	33.53%	35.58%	35.9%	25.67%	33.2%	46.44%	46.38%

Frequently Asked Questions

Valuation & Price

TowneBank (TOWN) has a price-to-earnings (P/E) ratio of 16.4x. This is roughly in line with market averages.

Growth & Financials

TowneBank (TOWN) grew revenue by 8.7% over the past year. This is steady growth.

Yes, TowneBank (TOWN) is profitable, generating $173.6M in net income for fiscal year 2024 (15.8% net margin).

Dividend & Returns

Yes, TowneBank (TOWN) pays a dividend with a yield of 2.82%. This makes it attractive for income-focused investors.

TowneBank (TOWN) has a return on equity (ROE) of 7.7%. This is below average, suggesting room for improvement.

Industry Metrics

TowneBank (TOWN) has a net interest margin (NIM) of 2.6%. NIM has been under pressure due to interest rate environment.

TowneBank (TOWN) has an efficiency ratio of 49.1%. This is excellent, indicating strong cost control.

US Stock Screener

...