TowneBank Reports First Quarter 2024 Earnings

April 24, 2024

https://www.globenewswire.com/news-release/2024/04/24/2869130/10357/en/TowneBank-Reports-First-Quarter-2024-Earnings.html

SUFFOLK, Va., April 24, 2024 (GLOBE NEWSWIRE) — TowneBank (the “Company” or “Towne”) (NASDAQ:TOWN) today reported earnings for the quarter ended March 31, 2024 of $34.69 million, or $0.46 per diluted share, compared to $38.33 million, or $0.52 per diluted share, for the quarter ended March 31, 2023. Excluding acquisition-related items and the incremental FDIC special assessment, adjusted earnings (non-GAAP) for first quarter 2024 were $36.27 million, or $0.48 per diluted share, compared to $46.30 million, or $0.62 per diluted share, for first quarter 2023.

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