Bank holding company offering a comprehensive range of banking services through its subsidiary, TowneBank, primarily in Virginia and North Carolina.
TowneBank stands as a pillar in the banking and financial services sector, serving a diverse clientele across retail and commercial segments. Established in 1998 and headquartered in Portsmouth, Virginia, the bank operates through three core segments: Banking, Realty, and Insurance. Within its Banking segment, TowneBank offers a comprehensive suite of deposit products including demand deposits, savings accounts, certificates of deposit, and IRAs. The bank also provides a range of lending services encompassing personal loans, commercial loans for business expansion and equipment purchases, and mortgage loans for real estate acquisition and development.
TowneBank's commitment to customer service extends to a wide array of financial solutions such as treasury management, safe deposit boxes, and online banking services. The Realty segment of the bank offers a full spectrum of real estate services including residential real estate, property management, and title and settlement services. Meanwhile, the Insurance segment provides life, property, casualty, and vehicle insurance, as well as employee benefit programs. This diversified portfolio of offerings underscores TowneBank's dedication to meeting the financial needs of individuals, businesses, and professionals across its operational footprint, which includes regions in Virginia, North Carolina, and beyond.
As TowneBank navigates the evolving landscape of financial services, the exploration of cryptocurrency represents a potential avenue for future growth and innovation. By considering the integration of digital currencies into its service offerings, TowneBank aims to cater to the increasing demand for digital financial solutions among its tech-savvy client base. This strategic initiative aligns with the bank's proactive approach to embracing financial technology and maintaining its position as a trusted partner in banking, realty, and insurance services within its expanding market regions.