Towne Bancorp is the bank holding company for TowneBank, a mutual holding company headquartered in Portsmouth, Virginia. Through its subsidiary TowneBank, the company offers a broad array of financial services to individuals, small and mid-size businesses, and institutional clients. Towne Bancorp’s common shares trade on the OTC Markets under the symbol TWNE.
The company’s core business activities encompass commercial and retail banking, mortgage lending, wealth management, trust services, insurance, and title insurance. Its commercial banking division provides lending, deposit, treasury management, and capital markets services to businesses across key sectors. TowneBank’s HomeTowne Mortgage unit delivers residential and construction lending solutions, while Towne Wealth Management and Towne Trust offer investment advisory and fiduciary services. Insurance products are marketed through affiliated agencies, serving both personal and commercial lines.
Towne Bancorp primarily serves communities in southeastern Virginia and northeastern North Carolina, with branch networks concentrated in Hampton Roads, Richmond, the Northern Virginia suburbs, and the Piedmont Triad and Triangle regions of North Carolina. The company emphasizes local decision-making, community reinvestment and relationship banking, positioning itself as a full-service financial partner in its footprint.
Founded in 1998, TowneBank has grown organically through a mix of new branch openings and strategic acquisitions, while maintaining a mutual holding structure. The company’s leadership team is led by V. Stephen Wall, who serves as Chairman, President and Chief Executive Officer. Under his guidance, Towne Bancorp has focused on expanding its service offerings and technological capabilities, reinforcing its commitment to community banking and long-term shareholder value.
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