TowneBank Reports First Quarter 2020 Earnings
Towne Bank (TOWN)
Last towne bank earnings: 4/27 08:30 am
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US:NASDAQ Investor Relations:
investor.townebank.com
Company Research
Source: GlobeNewswire
SUFFOLK, Va., April 27, 2020 (GLOBE NEWSWIRE) -- TowneBank (the “Company”) (NASDAQ: TOWN) today reported earnings for the quarter ended March 31, 2020 of $26.38 million, or $0.36 per diluted share, compared to $31.41 million, or $0.44 per diluted share, for the quarter ended March 31, 2019. “Our Company began 2020 on strong footing with loan demand exceeding expectations. However, traditional performance measures such as growth and profitability were temporarily superseded by challenges that are unprecedented in the history of this country. Our slogan of “Serving Others and Enriching Lives” emerged center stage as we engaged our members, communities and colleagues to understand how we can help them navigate the current environment. Through our participation in the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), we assisted our members with nearly 5,000 loans totaling $1 billion while also providing safe access to our banking offices and providing work at
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