TOWN
- TowneBank
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Overview
Company Summary
TowneBank is a financial holding company that operates primarily through its subsidiary, TowneBank. Based in Virginia, USA, TowneBank provides a wide range of financial products and services to individuals, businesses, and government entities.
First and foremost, TowneBank offers traditional banking services such as checking, savings, and money market accounts, as well as certificates of deposit (CDs) with varying terms and interest rates. For individuals, the bank provides mortgage loans, home equity lines of credit, auto loans, and personal loans. It also offers credit cards, online and mobile banking services, and investment options like mutual funds and IRAs.
On the commercial side, TowneBank serves small and medium-sized businesses by providing commercial real estate loans, construction financing, lines of credit, and term loans to fund business operations and expansion. The bank also offers business checking and savings accounts, merchant services, corporate credit cards, and customized treasury management solutions.
TowneBank has a significant presence in the mortgage lending market and operates as a mortgage broker. Through its subsidiary, Towne Mortgage, the company assists customers in securing home loans by offering a wide range of mortgage options, including conventional mortgages, government-backed loans, jumbo mortgages, and refinancing.
In addition to banking and mortgage services, TowneBank provides wealth management and financial planning services through its subsidiary, Towne Wealth Management. This includes investment management, retirement planning, estate planning, insurance services, and trust services. The company aims to support its customers in managing and growing their wealth to achieve their financial goals.
Furthermore, TowneBank is involved in the insurance brokerage business through its subsidiary, Towne Insurance. The company offers a variety of insurance products including property and casualty insurance, business insurance, employee benefits, and personal insurance lines to protect individuals, businesses, and their assets against potential risks.
As a community-oriented bank, TowneBank is committed to serving the local communities where it operates. The company actively participates in charitable giving, community events, and supports numerous nonprofit organizations through its TowneBank Foundation.
Overall, TowneBank operates as a full-service financial institution, offering banking, mortgage, wealth management, insurance, and community-oriented services to individuals, businesses, and government entities.