Banking stocks: TowneBank (TOWN) (1998)

TowneBank (NASDAQ:TOWN) (the name is a bit concise^_^) was founded in 1998 and is headquartered in Portsmouth, Virginia, USA. It has 2,088 full-time employees and provides retail and commercial banking services for small and medium enterprises, professionals and individuals.


TowneBank (TOWN):

TowneBank is divided into 3 departments to operate: Banking (bank), Realty (real estate), and Insurance (insurance).

TowneBank products and services include:

  1. Various deposit products, including demand deposits, transferable orders for withdrawal accounts, savings accounts, exchange rate savings, certificates of deposit and personal retirement accounts.
  2. Various loan products, including: automobile (purchase) financing, family housing improvement loans, secured and unsecured personal loans for education and personal investment; working capital business loans; business expansion and equipment and machinery purchases; mortgage loans; real estate construction And acquisition loans.
  3. In addition, TowneBank also provides safe deposit boxes, cash management services, traveler’s checks, payroll direct deposit and social security checks, and automatic money orders for various accounts, as well as online banking, mobile banking and telephone banking services.
  4. In addition, TowneBank also provides document services to complete deferred tax payments to investors; asset management and commercial mortgage brokerage services; financial services such as finance, retirement and real estate planning services, as well as alternative investments, annuities, margin accounts, convertible Assistance with various investment options such as bonds, pensions and profit distribution plans.
  5. In addition, TowneBank also provides residential real estate, relocation, property management, vacation rental, and ownership and settlement services; and initiates housing mortgage loans.
  6. TowneBank provides life, property, casualty and vehicle insurance services; travel, medical and luggage protection insurance; and employee benefit plans such as medical, dental, vision and disability insurance.

As of February 22, 2017, TowneBank operated 37 bank branches in Virginia and North Carolina.

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