Towne Bank (NASDAQ:TOWN) (NASDAQ:TOWN) is a community-oriented financial institution headquartered in Suffolk, Virginia. Founded in 1908, the bank has grown from a single local branch to a diversified financial services organization. It offers a full range of banking products for individuals, small businesses and commercial clients, including checking and savings accounts, certificates of deposit, and online and mobile banking solutions. The bank’s branch network and digital platforms are designed to provide customers with convenient access to their accounts and responsive local service.
The company’s lending services encompass residential mortgages, home equity lines of credit, consumer loans, and a broad suite of commercial loan products. Through its specialized commercial banking team, Towne Bank supports real estate developers, agricultural enterprises, healthcare providers, and other sectors with tailored financing solutions. The bank places emphasis on underwriting discipline and relationship-based lending, aiming to foster long-term partnerships with local businesses and individuals.
Beyond traditional banking, Towne Bank operates subsidiaries that extend its wealth management and insurance offerings. Towne Wealth Management provides investment advisory, retirement planning, trust services and brokerage through MML Investors Services. Towne Insurance Group offers property and casualty, personal and commercial insurance products, leveraging a network of independent agents. These complementary lines of business enable Towne Bank to serve as a comprehensive financial services provider, addressing the diverse needs of its clients under one organizational umbrella.
Leadership at Towne Bank includes Chairman and Chief Executive Officer Donald C. Smith and President and Chief Operating Officer Michael D. Hirko, among other senior executives with decades of experience in banking and financial services. Under their guidance, the bank has maintained a focus on community engagement, employee development and prudent growth strategies. Operating primarily in Virginia and northeastern North Carolina, Towne Bank continues to balance its local roots with measured expansion into new markets.
