Banks | TowneBank

TowneBank


TowneBank is an FDIC insured institution headquartered at 5716 High St W, Portsmouth, VA 23703.
It was founded in 0000 and has approximately $16 billion in assets. Customers can open an account at one of its 44 branches.

Deposit Rates - May 28, 2023

SAVINGS RATES APY MIN
Savings
0.02% $2,500 Compare
CD RATES APY MIN
Special: 5 Mo CD
0.35% $1,000 Compare
6 Mo CD
0.05% $10,000 Compare
6 Mo CD
0.05% $100,000 Compare
Special: 12 Mo CD
0.40% $1,000 Compare
12 Mo CD
0.10% $10,000 Compare
12 Mo CD
0.10% $100,000 Compare
18 Mo CD
0.15% $10,000 Compare
18 Mo CD
0.15% $100,000 Compare
Special: 19 Mo CD
0.33% $1,000 Compare
24 Mo CD
0.20% $10,000 Compare
24 Mo CD
0.20% $100,000 Compare
30 Mo CD
0.20% $10,000 Compare
30 Mo CD
0.20% $100,000 Compare
36 Mo CD
0.20% $10,000 Compare
36 Mo CD
0.20% $100,000 Compare
Special: 42 Mo CD
0.81% $1,000 Compare
48 Mo CD
0.20% $10,000 Compare
48 Mo CD
0.20% $100,000 Compare
60 Mo CD
0.20% $10,000 Compare
60 Mo CD
0.20% $100,000 Compare
MM RATES APY MIN
Money Market
0.01% $2,500 Compare
Money Market
0.02% $10,000 Compare
Money Market
0.03% $25,000 Compare
PREMM RATES APY MIN
Premium Money Market
0.01% $10,000 Compare
Premium Money Market
0.03% $25,000 Compare
FIXED IRA RATES APY MIN
Fixed IRA
0.10% $1
INT CHECKING RATES APY MIN
Int Ckg
0.01% $1
Int Ckg
0.01% $2,500

Overview 2023

General Bank Information

FDIC Insured Yes
FDIC Certificate # 35095
Date Established 0000
Assets $ 15.85 billion
Loans $ 10.79 billion
Deposits $ 13.39 billion
Capital $ 1,888.76 million

Summary Balance Sheet as of December 31, 2022

ASSETS
Cash & Balances due from depository institutions $ 1,152.83 million
Interest-bearing balances $ 1,047.16 million
Total securities $ 2.39 billion
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 10.79 billion
Loan loss allowance $ 110.82 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.20 million
Goodwill and other intangibles $ 501.65 million
All other assets $ 573.67 million
     Total Assets $ 13.96 billion

LIABILITIES
Total deposits $ 13.39 billion
      Interest-bearing deposits $ 8.03 billion
      Deposits held in domestic offices $ 13.39 billion
      % insured (estimated) 45.56%
Federal funds purchased and repurchase agreements $ 40.41 million
Trading liabilities N.A.
Other borrowed funds $ 55.47 million
Subordinated debt $ 247.42 million
All other liabilities $ 238.68 millionn
      Total Liabilities $ 13.96 billion
      Shareholders’ Equity $ 1,888.76 million

Summary Income Statement as of December 31, 2022

INCOME AND EXPENSES
Total Interest Income $ 518.12 million
Total Interest Expense $ 56.57 million
Net interest income $ 461.55 million
Provision for loan and lease losses $ 8.93 million
Total non interest income $ 319.51 million
Total non interest expense $ 535.08 million
Pre-tax Net Operating Income $ 115.68 million

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Branches

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Your current location is: Ashburn, VA
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TowneBank Locations

Savings Comparison

This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis.

PRODUCT
BANK
BANK TYPE
STATE
AMOUNT
TERM
APY
VS.NATL'L AV.
MIN
MILES

Tax Rate: 30%

All calculations are for demonstration purposes only.

  • 1
    LOCAL CD
    Towne Bank
    Bank
    VIRGINIA
    $50,000
    5 Month
    0.35%
    N.A.
    $1,000
    -
    SCENARIO
    Year Rate
    0.35%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 175 123
    2 50,175 176 123
    3 50,351 176 123
    4 50,527 177 124
    5 50,704 177 124
    6 50,881 178 125
    7 51,059 179 125
    8 51,238 179 126
    9 51,417 180 126
    10 51,597 181 126
    11 51,778 181 127
    12 51,959 182 127
    13 52,141 182 128
    14 52,323 183 128
    15 52,507 184 129
    16 52,690 184 129
    17 52,875 185 130
    18 53,060 186 130
    19 53,245 186 130
    20 53,432 187 131
    TOTAL $3,619 $2,533
  • 2
    LOCAL CD
    Discover Bank , ★ TOP PICK ★
    Online Bank
    -
    $50,000
    60 Month
    4.00%
    4.67x (National Avg. - 0.86%)
    $2,500
    -
    SCENARIO
    Year Rate
    4.00%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,000 1,400
    2 52,000 2,080 1,456
    3 54,080 2,163 1,514
    4 56,243 2,250 1,575
    5 58,493 2,340 1,638
    6 60,833 2,433 1,703
    7 63,266 2,531 1,771
    8 65,797 2,632 1,842
    9 68,428 2,737 1,916
    10 71,166 2,847 1,993
    11 74,012 2,960 2,072
    12 76,973 3,079 2,155
    13 80,052 3,202 2,241
    14 83,254 3,330 2,331
    15 86,584 3,463 2,424
    16 90,047 3,602 2,521
    17 93,649 3,746 2,622
    18 97,395 3,896 2,727
    19 101,291 4,052 2,836
    20 105,342 4,214 2,950
    TOTAL $59,556 $41,689
  • 3
    LOCAL CD
    Discover Bank , ★ TOP PICK ★
    Online Bank
    -
    $50,000
    24 Month
    4.30%
    7.26x (National Avg. - 0.59%)
    $2,500
    -
    SCENARIO
    Year Rate
    4.30%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,150 1,505
    2 52,150 2,242 1,570
    3 54,392 2,339 1,637
    4 56,731 2,439 1,708
    5 59,171 2,544 1,781
    6 61,715 2,654 1,858
    7 64,369 2,768 1,938
    8 67,137 2,887 2,021
    9 70,024 3,011 2,108
    10 73,035 3,140 2,198
    11 76,175 3,276 2,293
    12 79,451 3,416 2,391
    13 82,867 3,563 2,494
    14 86,430 3,717 2,602
    15 90,147 3,876 2,713
    16 94,023 4,043 2,830
    17 98,066 4,217 2,952
    18 102,283 4,398 3,079
    19 106,681 4,587 3,211
    20 111,268 4,785 3,349
    TOTAL $66,053 $46,237
  • 4
    LOCAL CD
    Discover Bank , ★ TOP PICK ★
    Online Bank
    -
    $50,000
    12 Month
    4.75%
    10.06x (National Avg. - 0.47%)
    $2,500
    -
    SCENARIO
    Year Rate
    4.75%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,375 1,663
    2 52,375 2,488 1,741
    3 54,863 2,606 1,824
    4 57,469 2,730 1,911
    5 60,199 2,859 2,002
    6 63,058 2,995 2,097
    7 66,053 3,138 2,196
    8 69,191 3,287 2,301
    9 72,477 3,443 2,410
    10 75,920 3,606 2,524
    11 79,526 3,777 2,644
    12 83,304 3,957 2,770
    13 87,261 4,145 2,901
    14 91,406 4,342 3,039
    15 95,747 4,548 3,184
    16 100,295 4,764 3,335
    17 105,059 4,990 3,493
    18 110,050 5,227 3,659
    19 115,277 5,476 3,833
    20 120,753 5,736 4,015
    TOTAL $76,488 $53,542
  • 5
    LOCAL CD
    Forbright Bank , ★ TOP PICK ★
    Bank
    -
    $50,000
    12 Month
    5.20%
    11.02x (National Avg. - 0.47%)
    $1,000
    -
    SCENARIO
    Year Rate
    5.20%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,600 1,820
    2 52,600 2,735 1,915
    3 55,335 2,877 2,014
    4 58,213 3,027 2,119
    5 61,240 3,184 2,229
    6 64,424 3,350 2,345
    7 67,774 3,524 2,467
    8 71,298 3,708 2,595
    9 75,006 3,900 2,730
    10 78,906 4,103 2,872
    11 83,009 4,316 3,022
    12 87,326 4,541 3,179
    13 91,867 4,777 3,344
    14 96,644 5,025 3,518
    15 101,669 5,287 3,701
    16 106,956 5,562 3,893
    17 112,518 5,851 4,096
    18 118,369 6,155 4,309
    19 124,524 6,475 4,533
    20 130,999 6,812 4,768
    TOTAL $87,811 $61,468


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