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TowneBank (TOWN) in Suffolk, Va., has agreed to buy Franklin Financial (FRNK) in Richmond, Va.
July 15 -
TowneBank (TOWN) in Suffolk, Va., said that improved credit quality helped boost its first-quarter earnings 6.3% from a year earlier, to $11.1 million.
April 25 -
TowneBank (TOWN) in Portsmouth, Va., has converted all of its Series A preferred stock into common stock.
September 3
TowneBank in Suffolk, Va., has exited the Small Business Lending Fund program.
The company said in a press release Thursday that it redeemed preferred shares worth $76.46 million that were issued under the program to the Treasury Department.
The SBLF program
Towne Bank "continues to have capital in excess of the levels necessary to be deemed well-capitalized," the company said in the release.
TowneBank has assets of $5 billion and operates 36 branches in Virginia.
