Welcome Village Bank to the TowneBank Family!

In September, TowneBank and Village Bank and Trust Financial Corp., the parent company of Village Bank, announced plans for Village Bank to merge into TowneBank. The proposed transaction* will enhance TowneBank’s continued and growing presence in the greater Richmond area while expanding opportunities for diversified revenue strategies through Towne Financial Services Group. 

“Our TowneBank family is humbled and excited to partner with Village Bank and its team members,” said G. Robert Aston, Jr., TowneBank executive chairman. “We believe our partnership can bring additional products and expanded services to the clients of Village Bank while meaningfully enhancing our Richmond presence, which is core to our future growth.” 

“Village Bank is known for saying ‘You’re a neighbor, not a number,’ and we share those same values,” said Billy Foster, TowneBank president and CEO. “Their customers and financial professionals will find a familiar feeling at TowneBank.”  

Village Bank is headquartered in Midlothian, Virginia, and has nine locations providing commercial and consumer banking services in Chesterfield, Hanover, Henrico, and Powhatan Counties, the City of Richmond, and the City of Williamsburg. Based on financials reported as of June 30, 2024, the combined companies would have total assets of $17.8 billion, loans of $12.1 billion, and deposits of $14.9 billion. 

“We’re excited to partner with TowneBank,” said Jay Hendricks, president and CEO of Village. “This merger is not just a business decision but a strategic move to enhance the value we deliver to our customers. This partnership will give us the ability to continue to meet our customers’ banking needs with greater resources and products while providing increased opportunities for our employees.”  

We look forward to welcoming our Village family to TowneBank in 2025.