Trade Towne Bank/Portsmouth VA - TOWN CFD

Trading Conditions

• Type:
  CFD

  

  Knock-out

  
• Spread: 0.11
• Long position overnight funding adjustment: -0.02157%
• Short position overnight funding adjustment: -0.00065%
• Overnight funding adjustment time: 21:00 (UTC)
• Currency: USD
• Min traded quantity: 1
• Margin: 20.00%
• Stock exchange: United States of America
• Commission on trade: 0%
• Guaranteed stop premium: 1%

Key Stats

• Prev. Close: 35.16
• Open: 35.11
• 1-Year Change: 7.83%
• Day's Range: 35.07 - 35.41

Trade Towne Bank/Portsmouth VA - TOWN CFD

About TowneBank

Towne Bank is primarily engaged in offering a range of banking and other financial services. The Company operates through three segments: Banking, Realty and Insurance. The Banking segment provides loan and deposit services to retail and commercial customers. The Realty segment provides residential real estate services, resort property management, originations of a variety of mortgage loans, and commercial and residential title insurance. The Insurance segment provides full-service commercial and retail insurance, and employee benefit services. The Company offers an array of business and personal banking solutions. It operates over 40 banking offices throughout Hampton Roads and Central Virginia, as well as Northeastern and Central North Carolina. The Company’s subsidiaries include Towne Investment Group, Towne Wealth Management, Towne Insurance Agency, LLC, Towne Benefits, TowneBank Commercial Mortgage, LLC, Towne 1031 Exchange, LLC and Towne Vacations, LLC.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, TowneBank interest income decreased 4% to $443.5M. Net interest income after loan loss provision increased 12% to $419.1M. Net income increased 48% to $215.4M. Net interest income after loan loss provision reflects Bank segment increase of 25% to $375.9M. Net income benefited from Bank segment income increase of 87% to $169.5M. Dividend per share increased from $0.72 to $0.76.

Equity composition

Common Stock $1.667 Par, 3/11, 45M auth., 28,998,539 issd. Insiders control approx. 15.77%. IPO: N/A. 8/05, 3% stock dividend. 10/07, Exchange changed from OTC Bulletin Board to NASDAQ. Preferred Stock $5.00 Par, 2M auth., 666,000 issd., 05/12, 3% Stock Dividend.