Townebank Reports Third Quarter 2026 Earnings
Key Highlights
- ➤TowneBank (TOWN) Q3 earnings $0.88 per diluted share, versus $0.58 year-over-year
- ➤Core earnings $0.91 per diluted share, versus $0.90 year-over-year
- ➤Total revenues $257.89 million, up 15.86% year-over-year
- ➤Tax-equivalent net interest margin 3.92%, versus 3.50% year-over-year
- ➤Total deposits $18.46 billion, down 1.36% from the linked quarter
Expert Statements
G. Robert Aston, Jr., Executive Chairman of TowneBank
“Our third-quarter results demonstrate the strength of our Main Street Banking model and our disciplined execution against strategic objectives. We expanded margin to 3.92%, generated a core return on average assets of 1.49% and delivered a core return on average tangible common equity of 16.63%, with each metric meeting or exceeding the pro forma assumptions established at the time of the Dogwood State Bank merger announcement. The recently announced blueharbor bank partnership further reflects our commitment to pursuing attractive in-market opportunities that are strategically aligned, financially accretive and characterized by low execution risk. Together with our emphasis on maintaining balance sheet flexibility, these initiatives position us well to continue creating long-term value for shareholders”
William I. Foster III, President and Chief Executive Officer of TowneBank
“We remain confident in the resilience of our operating model, which is anchored by a high-quality, low-cost deposit base, industry-leading credit performance, and disciplined capital allocation. Together, these strengths create a sustainable competitive advantage across multiple economic cycles. Looking ahead, our priorities include the successful integration of Dogwood’s systems and identifying attractive opportunities to grow and enhance our Towne Financial Services platform”
SUFFOLK, Va., Oct. 28, 2026 (GLOBE NEWSWIRE) -- TowneBank (the "Company" or "Towne") (NASDAQ: TOWN) today reported earnings for the quarter ended September 30, 2026 of $81.78 million, or $0.88 per diluted share, compared to $44.30 million, or $0.58 per diluted share, for the quarter ended September 30, 2025. Excluding certain items affecting comparability, core earnings (non-GAAP) were $83.85 million, or $0.91 per diluted share, in the current quarter compared to $68.77 million, or $0.90 per diluted share, for the quarter ended September 30, 2025.
"Our third-quarter results demonstrate the strength of our Main Street Banking model and our disciplined execution against strategic objectives. We expanded margin to 3.92%, generated a core return on average assets of 1.49% and delivered a core return on average tangible common equity of 16.63%, with each metric meeting or exceeding the pro forma assumptions established at the time of the Dogwood State Bank merger announcement. The recently announced blueharbor bank partnership further reflects our commitment to pursuing attractive in-market opportunities that are strategically aligned, financially accretive and characterized by low execution risk. Together with our emphasis on maintaining balance sheet flexibility, these initiatives position us well to continue creating long-term value for shareholders," said G. Robert Aston, Jr., Executive Chairman.
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