TowneBank Reports Second Quarter 2024 Earnings
![GlobeNewswire](../../../Content/images/providers/GN.png)
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., July 24, 2024 (GLOBE NEWSWIRE) -- TowneBank (the "Company" or "Towne") (NASDAQ: TOWN) today reported earnings for the quarter ended June 30, 2024 of $42.86 million, or $0.57 per diluted share, compared to $41.72 million, or $0.56 per diluted share, for the quarter ended June 30, 2023. Excluding certain items affecting comparability, core earnings (non-GAAP) were $42.56 million, or $0.57 per diluted share, in the current quarter, an increase of 10.10% compared to $38.66 million, or $0.52 per diluted share, for the quarter ended June 30, 2023. "TowneBank delivered another solid quarter of performance, reflective of the strength of our diversified operating model and conservative approach to balance sheet management. It was encouraging to report quarterly sequential growth in tax-equivalent net interest margin and noninterest-bearing demand deposit balances for the first time since 2022 signaling momentum heading into the back half of the year. Lastly, our strategy of co
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News
- TowneBank's (NASDAQ:TOWN) Dividend Will Be $0.25 [Yahoo! Finance]Yahoo! Finance
- TowneBank Announces Quarterly Cash DividendGlobeNewswire
- TowneBank (NASDAQ: TOWN) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
- TowneBank (NASDAQ: TOWN) had its price target raised by analysts at Keefe, Bruyette & Woods from $30.00 to $35.00. They now have a "market perform" rating on the stock.MarketBeat
- TowneBank (NASDAQ:TOWN) investors are up 8.1% in the past week, but earnings have declined over the last year [Yahoo! Finance]Yahoo! Finance