About TowneBank
TowneBank is a company based in Portsmouth (United States) founded in 1999.. The company has 2,720 employees as of December 31, 2024. TowneBank has completed 5 acquisitions, including Dogwood State Bank, Farmers Bank Virginia and Monarch Bank. TowneBank offers products and services including Checking Accounts, Loans, Credit Cards, Savings Accounts, and Online Banking. TowneBank operates in a competitive market with competitors including Truist, Investec, Equity Bank, Citi and KeyBank, among others.
- Headquarter Portsmouth, United States
- Employees 2720 as on 31 Dec, 2024
- Stage Public
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Towne Bank
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Annual Revenue
$1.02 B8.54as on Dec 31, 2024
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Net Profit
$161.76 M5.23as on Dec 31, 2024
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EBITDA
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Latest Funding Round
$27 M (USD), Post-IPO
Oct 21, 2009
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Investors
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Employee Count
2720
as on Dec 31, 2024
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Investments & Acquisitions
Dogwood State Bank
& 4 more
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IPO & Listings of TowneBank
TowneBank is a publicly listed company on the NASDAQ with ticker symbol TOWN in USA, operating in the Finance sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
Products & Services of TowneBank
TowneBank offers a comprehensive portfolio of products and services, including Checking Accounts, Loans, Credit Cards, Savings Accounts, and Online Banking. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Accounts for daily transactions and financial management
Products for personal and business borrowing needs
Cards for purchases and cash advances
Accounts to save and earn interest
Platform for managing accounts remotely
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Funding Insights of TowneBank
- Total Funding Total Funding
- Total Rounds 1
- Last Round Post-IPO — $27.0M
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First Round
First Round
(21 Oct 2009)
- Investors Count Investors Count
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct, 2009 | Amount | Post-IPO - TowneBank | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investments & Acquisitions by TowneBank
TowneBank has strategically engaged in corporate development activities, having acquired 5 companies. Notable acquisitions include Dogwood State Bank, Farmers Bank Virginia and Monarch Bank. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Community bank providing banking products and services for businesses, business owners, professionals, and their employees
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2018 | ||||
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Commercial banking services are provided in the United States.
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1999 | ||||
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Commercial banking services are offered to businesses and individuals.
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1998 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - TowneBank
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Townebank Comparisons
Competitors of TowneBank
TowneBank operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Truist, Investec, Equity Bank, Citi and KeyBank, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Wealth advisory and banking services are offered to clients.
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| domain | founded_year | HQ Location |
Global banking, investment, and wealth management services are offered worldwide.
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| domain | founded_year | HQ Location |
Commercial banking services are provided to businesses and individuals.
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| domain | founded_year | HQ Location |
Diversified financial services are offered through commercial banking operations.
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| domain | founded_year | HQ Location |
Regional bank
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| domain | founded_year | HQ Location |
Diversified financial services are offered through commercial banking operations.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Townebank
Frequently Asked Questions about TowneBank
When was TowneBank founded?
TowneBank was founded in 1999 and raised its 1st funding round 10 years after it was founded.
Where is TowneBank located?
TowneBank is headquartered in Portsmouth, United States. It is registered at Portsmouth, Virginia, United States.
How many employees does TowneBank have?
As of Dec 31, 2024, the latest employee count at TowneBank is 2,720.
What is the annual revenue of TowneBank?
Annual revenue of TowneBank is $1.02B as on Dec 31, 2024.
What does TowneBank do?
TowneBank was established in 1999 and is headquartered in Portsmouth, United States. As a commercial bank, a variety of financial services is offered, including deposit accounts, loans, and investment products. Operations are centered on supporting regional businesses and personal banking needs within the United States market. The banks activities are regulated under standard federal banking guidelines, with a focus on community-oriented lending and deposit services.
Who are the top competitors of TowneBank?
What products or services does TowneBank offer?
TowneBank offers Checking Accounts, Loans, Credit Cards, Savings Accounts, and Online Banking.
Is TowneBank publicly traded?
Yes, TowneBank is publicly traded on NASDAQ under the ticker symbol TOWN.
How many acquisitions has TowneBank made?
TowneBank has made 5 acquisitions, including Dogwood State Bank, Farmers Bank Virginia, and Monarch Bank.
What is TowneBank's ticker symbol?
The ticker symbol of TowneBank is TOWN on NASDAQ.