NASDAQ : TOWN
TowneBank — Financial statements
Financials · Banks - Regional · United States
Last price 36.25 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 3.31B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 848.42M | 703.10M | 627.24M | 573.12M | 439.87M | 408.55M |
| Interest Income on Investments | 162.88M | 143.16M | 147.28M | 132.12M | 78.07M | 34.90M |
| Total Interest Income | 1.01B | 846.26M | 774.53M | 705.24M | 517.94M | 443.45M |
| Interest Paid on Deposits | 283.20M | 273.40M | 318.42M | 219.98M | 40.81M | 27.11M |
| Interest Paid on Borrowings | 14.87M | 9.25M | 13.50M | 27.49M | 15.76M | 13.97M |
| Total Interest Expense | 298.07M | 282.65M | 331.92M | 247.46M | 56.57M | 41.08M |
| Net Interest Income | 713.23M | 563.61M | 442.61M | 457.78M | 461.37M | 402.37M |
| Trust Income | 20.85M | 57.62M | 50.03M | 47.08M | 44.25M | 42.17M |
| Mortgage Banking Activities | 46.99M | 48.58M | 46.96M | 39.41M | 47.15M | 109.30M |
| Gain (Loss) on Sale of Investments | 201.51M | 2.13M | 312.00K | 9.38M | 1.22M | |
| Gain (Loss) on Sale of Equity Investments | 2.03M | 2.03M | 1.24M | -966.00K | 559.00K | 1.33M |
| Other Non-Interest Income | 157.53M | 138.87M | 132.77M | 122.39M | 116.82M | 108.30M |
| Total Non-Interest Income | 455.31M | 272.11M | 250.68M | 235.63M | 225.57M | 277.96M |
| Revenues Before Loan Losses | 1.17B | 835.72M | 693.29M | 693.41M | 686.93M | 680.33M |
| Provision for Loan Losses | -377.00K | 23.94M | -548.00K | 18.68M | 8.61M | -16.77M |
| Revenue | 1.17B | 811.78M | 693.83M | 674.74M | 678.33M | 697.10M |
| Salaries and Employee Benefits | 347.92M | 307.78M | 281.38M | 263.14M | 250.41M | 240.21M |
| Amortization of Goodwill & Intangibles | 23.31M | 16.78M | 12.77M | 14.15M | 10.62M | 11.13M |
| Selling, General & Administrative | 155.93M | 141.04M | 139.39M | 128.46M | 113.81M | 105.21M |
| Other Non-Interest Expense | 120.42M | 80.75M | 69.04M | 73.88M | 65.37M | 59.70M |
| Total Non-Interest Expense | 647.58M | 546.34M | 502.57M | 479.63M | 440.21M | 416.25M |
| EBT Excluding Unusual Items | 521.34M | 265.44M | 191.26M | 195.11M | 238.12M | 280.85M |
| Pretax Income | 457.00M | 210.22M | 189.92M | 185.51M | 237.05M | 279.83M |
| Income Tax Expense | 99.44M | 39.42M | 27.55M | 30.91M | 46.58M | 54.80M |
| Earnings From Continuing Operations | 357.56M | 170.79M | 162.37M | 154.60M | 190.47M | 225.03M |
| Minority Interest in Earnings | -975.00K | -1.26M | -1.02M | -1.39M | -1.48M | -9.65M |
| Net Income | 356.59M | 169.53M | 161.36M | 153.21M | 188.99M | 215.38M |
| Net Income to Common | 356.59M | 169.53M | 161.36M | 153.21M | 188.99M | 215.38M |
| Basic Shares Outstanding | 88.23M | 76.41M | 74.93M | 74.65M | 72.56M | 72.48M |
| Diluted Shares Outstanding | 88.76M | 76.75M | 75.17M | 74.66M | 72.58M | 72.56M |
| EPS (Basic) | 4.04 | 2.22 | 2.15 | 2.05 | 2.60 | 2.97 |
| EPS (Diluted) | 4.02 | 2.21 | 2.15 | 2.05 | 2.60 | 2.97 |
| Dividend Per Share | 1.10 | 1.06 | 1.00 | 0.98 | 0.89 | 0.78 |
| Effective Tax Rate | 21.76% | 18.75% | 14.50% | 16.66% | 19.65% | 19.58% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 230.06M | 253.49M | 211.60M | 189.00M | 152.62M | 52.15M |
| Investment Securities | 3.08B | 1.58B | 1.39B | 1.66B | 1.54B | 1.01B |
| Trading Asset Securities | 8.66M | 5.84M | 1.90M | 1.03M | 3.77M | |
| Mortgage-Backed Securities | 1.63B | 1.50B | 1.21B | 1.02B | 1.06B | |
| Total Investments | 3.08B | 3.22B | 2.90B | 2.87B | 2.56B | 2.07B |
| Gross Loans | 15.10B | 13.34B | 11.46B | 11.33B | 10.80B | 9.51B |
| Allowance for Loan Losses | -199.38M | -147.34M | -123.92M | -126.46M | -110.82M | -106.06M |
| Other Adjustments to Gross Loans | -1.73M | -3.06M | -2.25M | -662.00K | -5.71M | |
| Net Loans | 14.90B | 13.19B | 11.34B | 11.20B | 10.68B | 9.40B |
| Property, Plant & Equipment | 437.12M | 476.76M | 417.19M | 413.08M | 382.93M | 323.52M |
| Goodwill | 818.15M | 594.08M | 457.62M | 456.33M | 458.48M | 457.19M |
| Other Intangible Assets | 90.99M | 96.53M | 60.17M | 64.63M | 43.16M | 50.38M |
| Loans Held for Sale | 184.74M | 154.44M | 200.46M | 149.99M | 102.34M | 358.30M |
| Accrued Interest Receivable | 56.45M | 48.22M | 50.20M | 42.20M | 28.44M | |
| Restricted Cash | 1.28B | 1.10B | 1.13B | 939.36M | 1.00B | 3.24B |
| Other Real Estate Owned & Foreclosed | 1.61M | 1.75M | 443.00K | 908.00K | 560.00K | 4.58M |
| Other Long-Term Assets | 1.13B | 529.84M | 463.25M | 477.02M | 409.24M | 355.73M |
| Total Assets | 22.18B | 19.69B | 17.24B | 16.84B | 15.85B | 16.36B |
| Interest Bearing Deposits | 12.48B | 10.44B | 9.22B | 8.62B | 7.45B | 7.41B |
| Institutional Deposits | 1.00B | 966.59M | 934.83M | 574.27M | 620.86M | |
| Non-Interest Bearing Deposits | 5.98B | 5.07B | 4.25B | 4.34B | 5.27B | 5.55B |
| Total Deposits | 18.46B | 16.51B | 14.44B | 13.89B | 13.29B | 13.57B |
| Short-Term Borrowings | 23.53M | 42.55M | 37.96M | 35.51M | 41.92M | 76.92M |
| Current Portion of Leases | 10.28M | |||||
| Long-Term Debt | 258.26M | 283.87M | 260.00M | 255.80M | 247.42M | 249.65M |
| Federal Home Loan Bank Debt, Long-Term | 76.86M | 52.45M | 3.22M | 203.96M | 29.67M | 155.37M |
| Long-Term Leases | 39.69M | 52.55M | 82.75M | 82.17M | 56.55M | |
| Pension & Post-Retirement Benefits | 57.32M | 53.74M | 47.52M | 49.20M | 55.19M | |
| Other Long-Term Liabilities | 387.31M | 263.05M | 246.49M | 260.42M | 211.90M | 277.91M |
| Total Liabilities | 19.20B | 17.26B | 15.09B | 14.78B | 13.96B | 14.45B |
| Common Stock | 154.14M | 131.63M | 125.45M | 124.85M | 121.43M | 121.16M |
| Additional Paid-In Capital | 1.70B | 1.25B | 1.12B | 1.11B | 1.05B | 1.05B |
| Retained Earnings | 1.26B | 1.09B | 1.00B | 921.13M | 840.78M | 716.61M |
| Comprehensive Income & Other | -143.61M | -51.69M | -116.05M | -118.76M | -140.50M | 10.60M |
| Total Common Equity | 2.97B | 2.42B | 2.13B | 2.04B | 1.87B | 1.90B |
| Minority Interest | 6.89M | 6.94M | 15.43M | 15.91M | 14.80M | 16.86M |
| Shareholders' Equity | 2.98B | 2.43B | 2.15B | 2.06B | 1.89B | 1.92B |
| Total Liabilities & Equity | 22.18B | 19.69B | 17.24B | 16.84B | 15.85B | 16.36B |
| Total Debt | 358.65M | 428.85M | 353.74M | 578.02M | 401.19M | 538.49M |
| Net Cash (Debt) | -128.59M | -166.69M | -136.30M | -387.12M | -247.53M | -482.56M |
| Net Cash Per Share | -1.45 | -2.17 | -1.81 | -5.18 | -3.41 | -6.65 |
| Filing Date Shares Outstanding | 91.32M | 91.10M | 74.22M | 73.90M | 73.81M | 71.77M |
| Total Common Shares Outstanding | 91.32M | 77.88M | 74.21M | 73.89M | 71.91M | 71.77M |
| Book Value Per Share | 32.53 | 31.10 | 28.72 | 27.61 | 26.06 | 26.46 |
| Tangible Book Value | 2.06B | 1.73B | 1.61B | 1.52B | 1.37B | 1.39B |
| Tangible Book Value Per Share | 22.58 | 22.23 | 21.75 | 20.56 | 19.08 | 19.39 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 169.53M | 161.36M | 153.21M | 188.99M | 215.38M | |
| Depreciation & Amortization | 40.23M | 35.07M | 34.22M | 28.70M | 28.80M | |
| Other Amortization | 674.00K | 623.00K | 619.00K | 864.00K | 597.00K | |
| Gain (Loss) on Sale of Assets | 37.00K | -648.00K | -2.30M | -596.00K | -265.00K | |
| Gain (Loss) on Sale of Investments | -3.62M | 3.61M | -2.33M | 12.17M | 9.51M | |
| Provision for Credit Losses | 23.94M | -548.00K | 18.68M | 8.61M | -16.77M | |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | 121.87M | 18.75M | 9.45M | 332.18M | 377.16M | |
| Accrued Interest Receivable | -8.12M | 1.79M | -8.49M | -14.02M | 3.02M | |
| Change in Other Net Operating Assets | 2.88M | 3.45M | -1.45M | -77.50M | 91.21M | |
| Other Operating Activities | -24.13M | -22.06M | -9.33M | 5.61M | 2.53M | |
| Operating Cash Flow | 261.47M | 137.72M | 159.20M | 415.50M | 518.82M | |
| Capital Expenditures | -49.80M | -56.63M | -42.03M | -52.29M | -31.20M | |
| Sale of Property, Plant and Equipment | 1.66M | 4.32M | 1.20M | 784.00K | 3.70M | |
| Cash Acquisitions | -54.21M | -10.07M | 17.78M | -2.42M | -26.08M | |
| Investment in Securities | 54.50M | -26.30M | -43.71M | -711.23M | -636.12M | |
| Divestitures | 786.00K | |||||
| Net Decrease (Increase) in Loans Originated / Sold - Investing | -345.98M | -136.66M | -263.29M | -1.29B | 119.88M | |
| Other Investing Activities | 6.93M | 23.21M | -4.31M | 11.42M | 22.47M | |
| Investing Cash Flow | -386.89M | -202.13M | -333.57M | -2.05B | -547.36M | |
| Short-Term Debt Issued | 141.15M | |||||
| Long-Term Debt Issued | 50.00K | 3.34M | 246.90M | |||
| Total Debt Issued | 50.00K | 3.34M | 141.15M | 246.90M | ||
| Short-Term Debt Repaid | -351.00K | -199.14M | -35.83M | -448.79M | ||
| Long-Term Debt Repaid | -765.00K | -739.00K | -1.24M | -375.75M | -25.72M | |
| Total Debt Repaid | -1.12M | -199.88M | -1.24M | -411.57M | -474.51M | |
| Net Debt Issued (Repaid) | -1.07M | -196.54M | 139.91M | -164.67M | -474.51M | |
| Common Dividends Paid | -79.30M | -75.02M | -71.38M | -62.75M | -55.29M | |
| Total Dividends Paid | -79.30M | -75.02M | -71.38M | -62.75M | -55.29M | |
| Net Increase (Decrease) in Deposit Accounts | 223.40M | 544.09M | 84.41M | -279.40M | 2.00B | |
| Other Financing Activities | -6.44M | 3.00M | -3.04M | -5.28M | -9.77M | |
| Financing Cash Flow | 136.60M | 275.53M | 149.90M | -512.10M | 1.46B | |
| Net Cash Flow | 11.17M | 211.12M | -24.47M | -2.14B | 1.43B | |
| Free Cash Flow | 211.67M | 81.09M | 117.17M | 363.22M | 487.62M | |
| Free Cash Flow Margin | 26.07% | 11.69% | 17.36% | 53.55% | 69.95% | |
| Free Cash Flow Per Share | 2.76 | 1.08 | 1.57 | 5.00 | 6.72 | |
| Cash Interest Paid | 281.94M | 334.25M | 230.46M | 55.06M | 44.40M | |
| Cash Income Tax Paid | 7.54M | 1.22M | 13.45M | 24.18M | 51.01M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 3.39B | 2.60B | 2.52B | 2.20B | 2.22B | 2.27B |
| Last Close Price | 37.12 | 31.95 | 31.63 | 26.72 | 26.65 | 26.47 |
| PE Ratio | 9.23 | 15.32 | 15.64 | 14.35 | 11.73 | 10.53 |
| PS Ratio | 2.90 | 3.20 | 3.64 | 3.26 | 3.27 | 3.25 |
| PB Ratio | 1.14 | 1.07 | 1.18 | 1.07 | 1.17 | 1.18 |
| P/FCF Ratio | 25.72 | 12.27 | 31.12 | 18.77 | 6.11 | 4.65 |
| P/OCF Ratio | 18.82 | 9.93 | 18.32 | 13.81 | 5.34 | 4.37 |
| Debt / Equity Ratio | 0.12 | 0.18 | 0.17 | 0.28 | 0.21 | 0.28 |
| Debt / FCF Ratio | 2.03 | 4.36 | 4.93 | 1.10 | 1.10 | |
| Net Debt / Equity Ratio | 0.04 | 0.07 | 0.06 | 0.19 | 0.13 | 0.25 |
| Net Debt / FCF Ratio | 0.79 | 1.68 | 3.30 | 0.68 | 0.99 | |
| Return on Equity (ROE) | 13.29% | 7.46% | 7.73% | 7.84% | 10.01% | 12.16% |
| Return on Assets (ROA) | 1.71% | 0.92% | 0.95% | 0.95% | 1.18% | 1.45% |
| Earnings Yield | 10.83% | 6.53% | 6.39% | 6.97% | 8.52% | 9.50% |
| FCF Yield | 3.89% | 8.15% | 3.21% | 5.33% | 16.38% | 21.50% |
| Dividend Yield | 3.02% | 3.18% | 2.94% | 3.29% | 2.89% | 2.47% |
| Payout Ratio | 27.86% | 46.78% | 46.49% | 46.59% | 33.20% | 25.67% |
| Buyback Yield / Dilution | -17.02% | -2.10% | -0.68% | -2.87% | -0.02% | -0.30% |
| Total Shareholder Return | -14.01% | 1.07% | 2.26% | 0.42% | 2.87% | 2.17% |