Bailout Bank Bio: TowneBank

Dec 8, 2008 | 1 min read | Print Article

TowneBank, based in Portsmouth, Virginia, offers banking services throughout the Hampton Roads region in Southeastern, Virginia. The company has seventeen banking offices in Chesapeake, Hampton, Portsmouth, Newport News, Virginia Beach, Norfolk, Williamsburg, and York County. TowneBank will receive $76.5 million through the Treasury Department’s Capital Purchase Program.

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Bailout Bank Bio: Towne Bank


Federal Equity Investment	$76.50 million
Total Revenue	$192.75 million (2007)
Net Income	$23.27 million (2007)
Number of Employees	789
Corporate Headquarters	Portsmouth, Virginia
Business Sector	Financial
Officers and Directors	WG. Robert Aston Jr., Chairman of the Board, Chief Executive Officer Clyde E. McFarland Jr., Chief Financial Officer, Executive Vice President Jacqueline B. Amato, President and Chief Operating Officer, TowneBank Mortgage, a division of the Bank, Director
Corporate Website	https://townebank.com/
Executive Compensation	Unable to locate