TowneBank seals deal to acquire Virginia's Old Point for $203m [Yahoo! Finance]
Towne Bank (TOWN)
Last towne bank earnings: 4/27 08:30 am
Check Earnings Report
US:NASDAQ Investor Relations:
investor.townebank.com
Company Research
Source: Yahoo! Finance
Under the agreement, Old Point shareholders can opt for either $41.00 in cash or 1.1400 shares of TowneBank common stock for each share held. TowneBank anticipates the acquisition and subsequent merger with Virginia-based Old Point to be approximately 10% accretive to its earnings per share. This move is set to enhance TowneBank's presence in the Hampton Roads Metropolitan Statistical Area (MSA), adding a “high-quality core deposit franchise” to its portfolio. The acquisition is pending regulatory and shareholders' approvals, with completion expected in the second half of 2025. Upon completion of this transaction and including TowneBank's recent purchase of Village Bank and Trust Financial, the combined entity is projected to have total assets of $19.5bn, loans of $13.1bn, and deposits of $16.3bn as of 31 December 2024. Both TowneBank and Old Point completed due diligence in connection with the deal, which has secured the green light from the companies' boards. TowneBank
Show less
Read more
Impact Snapshot
Event Time:
TOWN
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
TOWN alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
TOWN alerts
High impacting Towne Bank news events
Weekly update
A roundup of the hottest topics
TOWN
News
- Is It Too Late To Consider TowneBank After Its Strong Multi Year Share Price Gains? [Yahoo! Finance]Yahoo! Finance
- 2 Cash-Heavy Stocks with Competitive Advantages and 1 We Brush Off [Yahoo! Finance]Yahoo! Finance
- Dogwood State Bank Shareholders Approve Merger into TowneBank [Yahoo! Finance]Yahoo! Finance
- Dogwood State Bank Shareholders Approve Merger into TowneBankPR Newswire
- TowneBank Announces Quarterly Cash Dividend [Yahoo! Finance]Yahoo! Finance