TowneBank (TOWN) Earnings

TowneBank engages in the provision of retail and commercial banking services to individuals and small and medium size businesses. The company is headquartered in Portsmouth, Virginia and currently employs 2,720 full-time employees. The firm's financial services include banking, resort property management, mortgage, insurance, employee benefit services, and investments. Its segments include Banking, Realty, and Insurance. The banking segment provides loan and deposit services to retail and commercial customers and also provides a variety of investment and asset management services. The Realty segment offers mortgage loans and resort property management. The Insurance segment provides a full line of commercial and consumer insurance products and financial services, as well as employee benefit services. Its business banking services include business lending, business checking and online banking and treasury services. The firm operates over 50 banking offices throughout Hampton Roads and Central Virginia, as well as Northeastern and Central North Carolina.