SUFFOLK, Va., Feb. 27, 2019 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ: TOWN) announced today that
its Board of Directors on February 27, 2019 declared its first-quarter shareholder cash dividend of $0.16 per common share payable
on April 10, 2019 to shareholders of record on March 29, 2019.
The amount and declaration of future cash dividends are subject to Board of Directors’ approval in addition to regulatory
restrictions.
About TowneBank:
As one of the top community banks in Virginia and North Carolina, TowneBank operates 41 banking offices serving
Chesapeake, Chesterfield County, Glen Allen, Hampton, James City County, Mechanicsville, Newport News, Norfolk, Portsmouth,
Richmond, Suffolk, Virginia Beach, Williamsburg, and York County in Virginia, along with Raleigh, Cary, Charlotte, Moyock, Grandy,
Greenville, Camden County, Southern Shores, Corolla and Nags Head in North Carolina. Towne also offers a full range of financial
services through its controlled divisions and subsidiaries that include Towne Investment Group, Towne Wealth Management, Towne
Insurance Agency, Towne Benefits, TowneBank Mortgage, TowneBank Commercial Mortgage, Berkshire Hathaway HomeServices Towne Realty,
Towne 1031 Exchange, LLC, and Towne Vacations. Local decision-making is a hallmark of its hometown banking strategy that is
delivered through the leadership of each group’s President and Board of Directors. With total assets of $11.16 billion as of
December 31, 2018, TowneBank is one of the largest banks headquartered in Virginia.
Media contact:
G. Robert Aston, Jr., Executive Chairman, 757-638-6780
J. Morgan Davis, President and Chief Executive Officer, 757-673-1673
Investor contact:
William B. Littreal, Chief Financial Officer, 757-638-6813
