Richard Cullen Joins the TowneBank Corporate Board of Directors

The merger substantially enhances TowneBank’s strategic journey down the fast-growing Interstate 85 corridor from Richmond, Virginia, and into Greenville and the upstate region of South Carolina.

TowneBank, with over 60 locations across Virginia and North Carolina, has been named nationally as one of America’s Best Workplaces by Best Companies Group and one of the 2025 Best Banks to Work For by American Banker.

TowneBank announced this week that it has expanded its delivery of financial services with the addition of Towne Trust Company, N.A., “Towne Trust,” a trust and fiduciary advisory group led by A. Eric Kauders, Jr., formerly operating as Old Point Wealth Management.

The Hampton Roads-based financial services company was voted Gold in the bank category in the 2025 edition of Charlotte’s Best, the second consecutive year to earn this distinction.

TowneBank celebrated the grand opening of its Greensboro Financial Center, located at 628 Green Valley Road, at an event on October 29, 2025.

The merger, which included Old Point National Bank’s merger into TowneBank, enhances TowneBank’s position in the Hampton Roads MSA with the addition of a high-quality core deposit franchise.

The bank’s current market position will be expanded in Raleigh, Greensboro-Winston Salem, Greenville, and Charlotte, North Carolina. Additionally, the merger will increase the bank’s footprint along the Eastern North Carolina coast from the Outer Banks to also include Morehead City, Greenville, Fayetteville, and Wilmington along with a new location in beautiful and historic Charleston, South Carolina.

The merger is expected to close on or about September 1, 2025, subject to the satisfaction of customary closing conditions.

Banking is not just a matter of money, it’s also about information. Chief Information Officers have a greater responsibility to drive change and innovation within the banking sector than ever before, and TowneBank’s Denys Diaz says it’s a privilege to serve in such a role.

TowneBank and Old Point Financial Corporation announced the signing of a definitive agreement and plan of merger.

TowneBank announces the completion of its merger with Village Bank.

The Federal Deposit Insurance Corporation and the Virginia State Corporation Commission have approved the regulatory applications filed in connection with TowneBank’s acquisition of Village and its wholly-owned subsidiary, Village Bank. In addition to the parties receiving all required regulatory approvals.

TowneBank Executive Chairman, Bob Aston, received honors from Chesapeake Bay Academy and Virginia Wesleyan University for his years of commitment and support to each institution. 

Hampton Roads based TowneBank (NASDAQ: TOWN) and Village Bank and Trust Financial Corp. (NASDAQCM: VBFC) (“Village”), the parent company of Village Bank, today announced the signing of a definitive agreement and plan of reorganization pursuant to which TowneBank will acquire Village and Village Bank.

This spring, nearly 1,000 people gathered at the Virginia Beach Convention Center for a special 25th anniversary annual meeting of TowneBank shareholders.

TowneBank celebrated the grand opening of our 51st banking center, located on Walnut Street across from Downtown Cary Park, at an event on May 2, 2024.

TowneBank and Towne Insurance celebrated the grand opening of the new 30,000 square foot Greenville Financial Center with an official ribbon cutting on February 28, 2024.

TowneBank celebrated the grand opening of our 50th banking center, located on Falls of Neuse Road in the North Ridge area of Raleigh, at an event on January 25, 2024.

TowneBank has been named one of the Best Banks to Work For by American Banker.

TowneBank hosted a ribbon cutting on Thursday, September 14, to celebrate the official grand opening of TowneBank Tower.

In a recent evaluation by the Federal Deposit Insurance Corporation (FDIC), TowneBank received an overall rating of 'Outstanding,' - the highest rating possible - on its Community Reinvesment Act (CRA) Performance.

TowneBank celebrated its newest Richmond area office located in the Short Pump Town Center with a grand opening event on June 14, 2023.

With over 30 years of risk management experience at one of the country’s largest commercial banks, Piccioli joins the TowneBank senior leadership team as a member of the corporate management group.

Thomas Woodward will become president of TowneBank's new Suffolk and Western Tidewater region once its Farmers Bank division moves under the TowneBank name in April, 2023.

Morgan will lead a dedicated team of commercial, private, real estate, and retail bankers that protects and enhances many relationships from the bank’s founding city.

Cooke will have executive oversight and leadership over TowneBank branch offices to ensure that members receive consistent and exquisite member service across all regions.

The merger was announced in August 2022 and received overwhelming support from Farmers shareholders in December 2022.

We are pleased to announce the promotion of R. Lee Clark to Chief Operating Officer.