SUFFOLK, Va., April 14, 2022 (GLOBE NEWSWIRE) — TowneBank ( TOWN) introduced right now that three long-serving members of its Board of Administrators, E. Lee Baynor, Thomas C. Broyles and F. Lewis Wooden, won’t stand for re-election and can transition to Emeritus standing following the 2022 Annual Assembly of Shareholders.
“These founding administrators have made a rare contribution to the expansion and success of TowneBank,” mentioned G. Robert Aston, Jr., TowneBank’s Govt Chairman. “And whereas they are going to be stepping down as company administrators, they may definitely not be stepping again as they may proceed to offer their clever counsel and unwavering help within the years forward by way of their new Emeritus place,” added Mr. Aston.
About TowneBank:
Based in 1999, TowneBank is an organization constructed on relationships, providing a full vary of banking and different monetary providers, with a mission of serving others and enriching lives. Devoted to a tradition of caring, TowneBank values all workers and members by embracing their numerous skills, views, and experiences.
At the moment, TowneBank operates over 40 banking places of work all through Hampton Roads and Central Virginia, in addition to Northeastern and Central North Carolina – serving as a neighborhood chief in selling the social, cultural, and financial progress in every neighborhood. TowneBank presents a aggressive array of enterprise and private banking options, delivered with solely the very best moral requirements. Skilled native bankers offering the next stage of experience and private consideration with native decision-making are key to the TowneBank technique. TowneBank has grown its capabilities past banking to offer experience by way of its managed divisions and subsidiaries that embrace Towne Wealth Administration, Towne Insurance coverage Company, Towne Advantages, TowneBank Mortgage, TowneBank Industrial Mortgage, Berkshire Hathaway HomeServices Towne Realty, Towne 1031 Alternate, LLC, and Towne Holidays. With whole belongings of $16.36 billion as of December 31, 2021, TowneBank is likely one of the largest banks headquartered in Virginia.
Ahead-Wanting Statements:
This press launch comprises sure forward-looking statements as outlined by the Non-public Securities Litigation Reform Act of 1995. Ahead-looking statements are usually not historic information, however as a substitute signify solely the beliefs, expectations, or opinions of TowneBank and its administration concerning future occasions, a lot of which, by their nature, are inherently unsure. Ahead-looking statements could also be recognized by way of such phrases as: “consider,” “count on,” “anticipate,” “intend,” “plan,” “estimate,” or phrases of comparable that means, or future or conditional phrases, similar to “will,” “would,” “ought to,” “might,” “might,” “possible,” “most likely,” or “presumably.” These statements might tackle points that contain important dangers, uncertainties, estimates, and assumptions made by administration. Any forward-looking statements made by us or on our behalf communicate solely as of the date they’re made or as of the date indicated, and we don’t undertake any obligation to replace forward-looking statements because of new data, future occasions, or in any other case. For data on the elements that would materially affect forward-looking statements included on this launch, see the “Danger Elements” in TowneBank’s Annual Report on Type 10-Ok for the 12 months ended December 31, 2021 and associated disclosures in different filings which have been, or will likely be, filed by TowneBank with the Federal Deposit Insurance coverage Company.
For extra data, contact:
G. Robert Aston, Jr. 757-638-6780
William B. Littreal 757-638-6813
