Shareholders and Friends Gather for 25th Celebration at Annual Meeting
At a special 25th anniversary annual meeting of shareholders at the Virginia Beach Convention Center on Wednesday, May 22, executive chairman Bob Aston looked back on the bank’s beginnings in his Portsmouth garage alongside a group of renowned community bankers in 1998. Before an audience of nearly 1,000 people, the founding officers and the original employees who helped open the bank on April 8, 1999, were recognized.
Bob spoke at length about the special trust shared between the company and its shareholders. “Having the trust of our founding shareholders and those who have joined us along the way, as well as that of the partner banks who have become members of the Towne family, has meant everything to who we have become. The story of our success is shared with every person in this room today, and with the entire community.” President and CEO Billy Foster addressed the future of the company and how it is positioned for success over the next quarter century. “We may not be able to predict the future,” Billy shared, “but we can feel confident that we have the right talent and the right perspective to thrive in both prosperous and challenging times.”
Also on the agenda was special recognition for retiring corporate directors Jacqueline B. “Jackie” Amato and Bradford L. “Brad” Cherry. Bob fondly recalled many decades of friendship with Brad, a founding director of the Portsmouth board, and praised Jackie, the founding president of TowneBank Mortgage, for her role in establishing the strong ties between the bank’s mortgage and real estate business lines.
Executive chairman Bob Aston shares a moment with retiring directors Jackie Amato and Brad Cherry who were presented with resolutions thanking them for their distinguished service. The day also served as a celebration of the contributions of Judge Richard S. Bray, a longtime friend to the Towne family who passed away on May 4, 2024.
Judge Bray, a William & Mary law school graduate, had a legal career spanning 32 years, culminating with him serving as Senior Judge on the Court of Appeals of Virginia. He was a titan of philanthropy who served as chairman of the Beazley Foundation for two decades.
He was appointed to the corporate board of TowneBank in 2006 and was named Lead Director in 2017, while also serving on the bank’s regional boards for Chesapeake, Currituck, and Towne Financial Services Group over the years. He was fond of saying,
“This is much more than a bank. It’s a very caring place.” He was passionate about seeing and responding to the needs of his community, and he found a kinship in that pursuit as a member of the Towne family.
Family members of Judge Richard S. Bray stand by his portrait and a plaque commemorating his friendship with TowneBank. Pictured (l. to r.) are grandson Bryan Bejarano, brother Bobby Bray, son-in-law Oscar Bejarano, wife Dawn Bray, Dawn’s daughter Shannon Bejarano, and granddaughter Kaylee Bejarano. “This was one of Richard’s favorite days of the year – our annual meeting,” Bob shared. “I know he is smiling down on us today.” He then recognized Judge Bray’s wife Dawn, brother Bobby, and other family members who attended to celebrate the long friendship between the Bray family and the Towne family.
A special day each year, this year’s annual meeting reflected on the many friendships that have elevated the company’s focus on serving others and enriching lives. It was a goal the founding officers set in 1998, and one that the current leadership carries forward into the future.