TowneBank announced promotions for three Suffolk headquarters employees.
Morgan Davis - Harmonizing Business with Community - Influencing People, Business and Community
Hampton Roads based TowneBank (Nasdaq:TOWN) announced today that its Board of Directors on February 27, 2015 declared its first-quarter shareholder cash dividend of $0.11 per common share payable on April 10, 2015 to shareholders of record on March 30, 2015.
Suffolk-based TowneBank says it's acquiring two independent insurance firms to expand its insurance business further on the Peninsula and to the Middle Peninsula.
TowneBank reported record annual earnings of $42.17 million for the year ended December 31, 2014, as compared to the $41.76 million earned in 2013.
TowneBank announced that it has redeemed in full the Company's $76.46 million of outstanding Series C preferred stock issued to the U.S. Department of the Treasury under the Small Business Lending Fund.
TowneBank workers and volunteers delivered nearly 600 pairs of gloves to eight shelters.
TowneBank announced that, at the close of business on January 2, 2015, it completed the previously announced acquisition of Franklin Federal Corporation.
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