TowneBank Announces Quarterly Cash Dividend

Hampton Roads based TowneBank (Nasdaq: TOWN) announced today that its Board of Directors declared its second-quarter shareholder cash dividend of $0.28 per common share payable on July 10, 2026, to shareholders of record on June 26, 2026. The quarterly common stock cash dividend of $0.28 per common share, or $1.12 per common share on an annual basis, is a 3.7% increase from the previous dividend rate. The amount and declaration of future cash dividends are subject to Board of Directors’ approval in addition to regulatory restrictions. Following the sale of our Resort Property Management business on April 3, 2026 for a purchase price of $250 million and the payment of a special dividend of $0.70 per share today, the Board of Directors approved a one-time $25 million donation to the TowneBank Foundation. In furtherance of our mission of Serving Others and Enriching Lives, this donation will provide considerable support in the years ahead to the Foundation’s ongoing commitment to serve as a community asset for the deserving charitable organizations in the markets we serve. The expense will be recognized in the second quarter of 2026.... Read more

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