Suffolk, Va. - Hampton Roads based TowneBank (NASDAQ: TOWN) reported net income of $5.99 million for the quarter ended September 30, 2007, with year-to-date earnings of $17.39 million. These increases reflected earnings growth of 8.54% and 11.85%, respectively. Third quarter earnings per share increased 9.09% to $0.24 per fully diluted share. For the nine-month period ended September 30, 2007, diluted per share earnings increased 11.29% to $0.69 per share.
Suffolk, Va. Greenwich Associates, the premier consulting and research source for financial services worldwide, recently honored TowneBank with two awards of excellence in serving the small businesses market. The first award is for Excellence in overall customer satisfaction at the regional level, and the second is for Excellence in cash management services at the regional level.
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