Letter from our Chairman
Bob Aston
Dear Friends,
May 24, 2023 was a gloriously warm and sunny day on the coast of Virginia as nearly 850 Towne family shareholders packed the ballroom at the Virginia Beach Convention Center for the TowneBank Annual Meeting of Shareholders.
The warm smiles, hugs, and handshakes from so many of our long-time loyal and dedicated supporters always make Annual Meeting Day special for me and my Towne teammates.
The reception area at the meeting abounded with positive energy and enthusiasm radiating from the attendees washing away the banking industry noise of the previous few weeks. As we say out in the country where I come from, “there was nary a word or concern” about the character, financial strength, or their faith in their bank – TowneBank.
Embedded in the old English spelling of town (with an e) is a sense of warmth, community, and camaraderie reflective of a Norman Rockwell painting.
In essence, many of the shareholders in attendance were charter investors who placed their faith in starting a new bank that would exude small town warmth and a sense of belonging in providing financial services to the community. That is exactly what our Towne family strives to do each and every day.
There are many different types of banks all across the country who seek many different strategic initiatives, some riskier than others. While we respect all of our competitors, we never seek to emulate them.
Here at Towne, it is all about the Towne Way.
- We Follow the Rules
- We Embrace High Character Teammates and Directors
- We Operate with a Conservative Mindset
- We Are Well-Capitalized
- We Maintain Excellent Credit Quality
- We Maintain Strong Liquidity
And, most importantly, we are a Main Street Bank serving the same people and businesses that you deal with in your community each and every day. Everything from the hair salon to the local home builders, the YMCA’s, places of worship, the local auto dealers, the doctors, lawyers, dentists and veterinarians, the country clubs, the local hotels, universities, and businesses of all types.
Our members are our friends. We seek to provide a safe haven for their deposits and to be a source of financial strength in providing loans to help our communities grow and prosper. Towne is also there to provide peace of mind in insuring our members’ assets and providing healthcare insurance to protect their families. For the less fortunate, Towne provides millions of dollars of philanthropic support each year to support the human needs in each community we serve.
Please know how deeply grateful we are for your trust and faith in our Towne family. We are truly blessed to have the privilege of serving you.
Most sincerely,
G. Robert Aston Jr.
Executive Chairman