Towne Bank


5716 High St W
Portsmouth, VA 23703
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.02% 5.02% →
1-Year CD 0.10% 5.25% →
2-Year CD 0.20% 5.10% →
5-Year CD 0.20% 4.50% →
30-Year Mortgage N.A. 0.00% →
15-Year Mortgage N.A. 0.00% →
HELOC N.A. 0.99% →

2023 Overview

General Bank Information

Towne Bank is an FDIC insured institution located in Portsmouth, VA. It was founded in 1999 and has approximately $16.86 billion in assets. Customers can open an account at one of its 44 branches.

FDIC Insured Yes
FDIC Certificate # 35095
Date Established 1999
Assets $ 16.86 billion
Loans $ 10.62 billion
Deposits $ 13.55 billion
Capital $ 1,843.59 million

For a more detailed analysis of Towne Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - March 31, 2023

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
0.02% $2,500 $4,999 Learn More
Money Market
0.01% $2,500 $2,999 Learn More
Money Market
0.02% $10,000 $14,999 Learn More
Money Market
0.03% $25,000 $29,999 Learn More
Premium Money Market Account
0.01% $10,000 $14,999 Learn More
Premium Money Market Account
0.03% $25,000 $34,999 Learn More
6 Mo CD
0.05% $10,000 $14,999 Learn More
6 Mo CD
0.05% $100,000 $199,999 Learn More
12 Mo CD
0.10% $10,000 $14,999 Learn More
12 Mo CD
0.10% $100,000 $199,999 Learn More
18 Mo CD
0.15% $10,000 $14,999 Learn More
18 Mo CD
0.15% $100,000 $199,999 Learn More
24 Mo CD
0.20% $10,000 $14,999 Learn More
24 Mo CD
0.20% $100,000 $199,999 Learn More
30 Mo CD
0.20% $10,000 $14,999 Learn More
30 Mo CD
0.20% $100,000 $199,999 Learn More
36 Mo CD
0.20% $10,000 $14,999 Learn More
36 Mo CD
0.20% $100,000 $199,999 Learn More
48 Mo CD
0.20% $10,000 $14,999 Learn More
48 Mo CD
0.20% $100,000 $199,999 Learn More
60 Mo CD
0.20% $10,000 $14,999 Learn More
60 Mo CD
0.20% $100,000 $199,999 Learn More

Fixed IRA
0.10% $1 $999 Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.01% $1 $99 Learn MoreShow Less
Int Ckg
0.01% $2,500 $3,499 Learn MoreShow Less

Loan Rates - March 31, 2023

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Towne Bank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:

Featured - Virginia 30 Year Fixed Mortgage Rates 2023

Lender APR Rate (%) Monthly
Learn More
PenFed Credit Union
NMLS ID: 401822
5.867% 5.750%
0.88 points
$3,182 fees
$1,459 Learn More
Rocket Mortgage
NMLS ID: 3030
6.596% 6.500%
1.00 points
$2,500 fees
$1,581 Learn More
Quicken Loans NMLS #3030
NMLS ID: 3030
7.010% 6.875%
0.88 points
$3,438 fees
$1,643 Learn More
NMLS ID: Not lender

Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2023

Lender APR (%)? Monthly Payment? Learn More
Bethpage Federal Credit Union
Bethpage Federal Credit Union
See Table
Intro APR 7.490 %
After Intro: 8.500 %
Intro Period: 12 months
$25,000 Learn More
More Info
Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
6.990 %
$0 Learn More
More Info

Note to Towne Bank
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Climate Initiatives

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Financial Details

Towne Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Towne Bank. The data is provided by the FDIC. All banks listed on are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Towne Bank U.S. Bank Average
0.31% 8.03%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of September 30, 2022, Towne Bank had $5,975,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $1,843,585,000 in equity and $107,497,000 in loans loss reserves. That gives it a Texas Ratio of 0.31%.

Return on Equity
Towne Bank U.S. Bank Average
9.84% 10.00%

Towne Bank has a Return on Equity of 9.84% versus the BestCashCow average of 10.00%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Towne Bank U.S. Bank Average
10.93% 9.96%

Towne Bank has a Capitalization of 10.93% versus the BestCashCow average of 9.96. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Towne Bank Balance Sheet Analysis

As of September 30, 2022, Towne Bank had assets of $16,864,040,000, loans of $10,617,137,000, and deposits of $13,548,237,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

September 30, 2022
Cash & Balances due from depository institutions $ 1,439.22 million
Interest-bearing balances $ 1,336.25 million
Total securities $ 2.44 billion
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 10.62 billion
Loan loss allowance $ 107.50 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 503.34 million
All other assets $ 573.67 million
     Total Assets $ 14.11 billion
Total deposits $ 13.55 billion
      Interest-bearing deposits $ 7.84 billion
      Deposits held in domestic offices $ 13.55 billion
      % insured (estimated) 45.86%
Federal funds purchased and repurchase agreements $ 42.68 million
Trading liabilities N.A.
Other borrowed funds $ 55.47 million
Subordinated debt $ 247.27 million
All other liabilities $ 238.68 million
      Total Liabilities $ 14.11 billion
      Shareholders’ Equity $ 2.76 billion

Summary Income Statement

September 30, 2022
Total Interest Income $ 366.16 million
Total Interest Expense $ 33.44 million
Net interest income $ 332.73 million
Provision for loan and lease losses $ 2.67 million
Total non interest income $ 253.98 million
Total non interest expense $ 405.08 million
Pre-tax Net Operating Income $ 115.68 million

Bank Loan Profile?

The top three loan types in Towne Bank’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Construction and Development Loans.

Compared to other banks in Virginia, Towne Bank has a significantly higher percent of Construction and Development Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 19.89
Credit Card Loans 0.00
Consumer Auto Loans 4.77
Small Business Loans 7.19
Construction and Development Loans 13.03
Commercial Real Estate 40.63
Commercial and Industrial Loans 12.25
Farm Loans 0.00

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