TowneBank

Chart & Performance

D1W1MN

P/E

15.71

P/S

3.57

EPS

2.05

Div Yield, %

2.96%

Shrs. gr., 5y

0.93%

Rev. gr., 5y

4.89%

Revenues

675m

-1.59%

Net income

154m

-18.66%

CFO

161m

-61.18%

Dividend

Sep 30, 20240.25 USD/sh

Earnings

Jan 22, 2025

Profile

TowneBank provides retail and commercial banking services for individuals, commercial enterprises, and professionals. The company operates through three segments: Banking, Realty, and Insurance. It accepts various deposits, including demand deposits, savings accounts, money rate savings, certificates of deposit, and individual retirement accounts. The company also offers secured and unsecured personal loans for financing automobiles, home improvements, education, and personal investments; commercial loans for working capital, business expansion, and equipment and machinery purchases; and mortgage loans, as well as real estate acquisition, development, and construction loans. In addition, it provides other services, such as safe deposit boxes, treasury management services, direct deposit of payroll and social security checks, and automatic drafts for various accounts, as well as online, mobile, and on-call banking services. Further, the company offers documentation services to accomplish tax deferral to investors; investment and asset management services; commercial mortgage brokerage services; and other financial services, such as financial, retirement, and estate planning services, as well as assistance on various investment options comprising alternative investments, annuities, margin accounts, convertible bonds, and pension and profit-sharing plans. Additionally, it provides residential real estate, relocation, property management, vacations rental, and title and settlement services; and originates residential mortgage loans. The company also offers life, property, casualty, and vehicle insurance services; and employee benefit programs, such as health, dental, vision, and disability insurance. It operates in Richmond, Virginia, the Greater Hampton Roads region in southeastern Virginia, northeastern North Carolina, Raleigh, Charlotte, Greensboro, and Greenville, North Carolina. TowneBank was incorporated in 1998 and is headquartered in Portsmouth, Virginia.

URL

https://townebank.com/

IPO date

May 05, 1999

Employees

2,903

Domiciled in

Incorporated in

Valuation

Order:

Title USD in thousands, except ratios and share amounts	FY	FY	FY	FY	FY	FY	FY	FY	FY
Title USD in thousands, except ratios and share amounts	2023‑12	2022‑12	2021‑12	2020‑12	2019‑12	2018‑12	2017‑12	2016‑12	2015‑12
Income
Revenues	675,443 -1.59%	686,376 1.09%
Cost of revenue	39,078	289,152
Unusual Expense (Income)
NOPBT	636,365	397,224
NOPBT Margin	94.21%	57.87%
Operating Taxes	31,085	46,581
Tax Rate	4.88%	11.73%
NOPAT	605,280	350,643
Net income	153,715 -18.66%	188,987 -12.26%
Dividends	(71,381)	(62,750)
Dividend yield	3.21%	2.80%
Proceeds from repurchase of equity
BB yield
Debt
Debt current		76,309
Long-term debt	332,430	348,878
Deferred revenue		(46,732)
Other long-term liabilities	(259,754)	(25,000)
Net debt	143,429	(2,123,156)
Cash flow
Cash from operating activities	161,304	415,505
CAPEX	(44,135)	(52,286)
Cash from investing activities	(335,675)	(2,047,213)
Cash from financing activities	149,898	(512,098)
FCF	(10,564,565)	8,199,762
Balance
Cash	189,001	152,625
Long term investments		2,395,718
Excess cash	155,229	2,514,024
Stockholders' equity	943,117	836,495
Invested Capital	16,679,810	2,476,776
ROIC	6.32%	11.22%
ROCE	3.78%	11.82%
EV
Common stock shares outstanding	74,662	72,578
Price	29.76 -3.50%	30.84 -2.37%
Market cap	2,221,929 -0.73%	2,238,304 -2.35%
EV	2,381,264	129,945
EBITDA	670,589	425,922
EV/EBITDA	3.55	0.31
Interest	247,462	56,571
Interest/NOPBT	38.89%	14.24%