TowneBank
Portsmouth, Virginia, Portsmouth City County
$22.6B in total assets, the 97th largest of 4,309 US banks and 5th of 57 headquartered in Virginia.
- FDIC certificate
- 35095
- Established
- 1999
- Owned by
- No holding company
- Primary regulator
- FDIC
- Website
- www.townebank.com
At a glance
Compared with 132 US banks with $10 billion to $100 billion in assets, as of June 30, 2026.
| Measure | This bank | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $22.6B | 52% | $22.4B | |
| Loans | $15.5B | 53% | $14.4B | |
| Deposits | $18.8B | 52% | $18.0B | |
| Return on assets | 1.53% | 76% | 1.29% | |
| Net interest margin | 3.77% | 57% | 3.61% | |
| Efficiency ratio | 56.1% | 58% | 55.1% | |
| Equity to assets | 13.24% | 77% | 11.57% | |
| Loans to deposits | 82% | 33% | 87% |
Growth
Total assets grew 7.4% a year over the last 5 years and 11.0% a year over 10 years, including 5 acquisitions in the last 10 years.
Acquisitions
| Closed | Acquired bank | Assets at acquisition |
|---|---|---|
| Jan 2026 | Dogwood State Bank Raleigh, NC | $2.4B |
| Sep 2025 | The Old Point National Bank of Phoebus Hampton, VA | $1.4B |
| Apr 2025 | Village Bank Midlothian, VA | $739M |
| Jan 2023 | Farmers Bank Windsor, VA | $596M |
| Jan 2018 | Paragon Commercial Bank Raleigh, NC | $1.8B |
| Jun 2016 | Monarch Bank Chesapeake, VA | $1.2B |
| Jan 2015 | Franklin Federal Savings Bank Glen Allen, VA | $1.1B |
| Dec 2010 | The Bank of Currituck Moyock, NC | $173M |
| Mar 2004 | Harbor Bank Newport News, VA | $306M |
Where they operate
81 branches in 35 counties.
Largest markets by deposits
| County | Deposits | Market share | Rank |
|---|---|---|---|
| Virginia Beach City County, VA | $2.9B | 30.9% | 1 of 17 |
| Wake County, NC | $2.1B | 1.9% | 6 of 36 |
| Norfolk City County, VA | $1.7B | 34.4% | 1 of 11 |
| Chesapeake City County, VA | $1.3B | 36.0% | 1 of 11 |
| Mecklenburg County, NC | $1.3B | 0.3% | 8 of 35 |
| Portsmouth City County, VA | $1.2B | 71.1% | 1 of 6 |
Deposits by branch from the FDIC Summary of Deposits, June 2026. Rank among all banks with branches in that county.
Branch history since 2016
Net gain of 43 branches since 2016 (38 to 81, +113.2%). 13 opened, 38 acquired, 8 closed or sold.
| Period | What happened | Opened or acquired | Closed or sold | Net change | Branches at end |
|---|---|---|---|---|---|
| Start of 2016 | Starting point | 38 | |||
| 2016 | Acquired Monarch BankOpened Richmond, closed Nags Head and Newport News | 2 | 2 | 0 | 38 |
| 2017 | Opened RichmondClosed Richmond | 1 | 1 | 0 | 38 |
| 2018 | Acquired Paragon Commercial Bank | 3 | 0 | +3 | 41 |
| 2019 | Opened 3 in 2 states | 3 | 0 | +3 | 44 |
| 2020 | Opened DuckClosed Richmond | 1 | 1 | 0 | 44 |
| 2021 | Opened CharlotteClosed Corolla | 1 | 1 | 0 | 44 |
| 2022 | Opened Charlotte | 1 | 0 | +1 | 45 |
| 2023 | Acquired Farmers BankOpened Raleigh and Richmond | 7 | 0 | +7 | 52 |
| 2024 | Opened Cary and GreensboroClosed Greensboro | 2 | 1 | +1 | 53 |
| 2025 | Acquired Village Bank and The Old Point National Bank of Phoebus | 12 | 0 | +12 | 65 |
| 2026 through Q2 | Acquired Dogwood State BankOpened Winston Salem, closed Hampton and Richmond | 18 | 2 | +16 | 81 |
Balance sheet and earnings
Loans by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Commercial real estate | 44% | 25% | |
| 1-4 family residential | 21% | 21% | |
| Business (C&I) | 11% | 17% | |
| Construction and land | 9% | 6% | |
| Multifamily | 6% | 8% | |
| Consumer | 5% | 10% | |
| Other | 4% | 13% |
Deposits by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Other interest-bearing | 53% | 62% | |
| Noninterest-bearing | 32% | 20% | |
| Time deposits | 15% | 18% |
Brokered deposits are 3.0% of deposits (peers 7.3%).
Return on assets
Trailing four quarters, with the peer median.
Credit and capital
| This bank | Peer median | |
|---|---|---|
| Noncurrent loans | 0.22% | 0.63% |
| Net charge-offs, annualized | 0.10% | 0.14% |
| Reserves to loans | 1.29% | 1.14% |
| Leverage ratio | 10.00% | 10.26% |
Noncurrent loans exclude government-guaranteed portions.
Related banks
Similar size in Virginia
Largest competitors in Virginia Beach City County, VA
Figures as of June 30, 2026 from the bank's Call Report, FDIC structure and branch data, and the Federal Reserve. Short link: bankingstats.com/townebank