TowneBank

TowneBank provides retail and commercial banking services for individuals commercial enterprises and professionals. The company operates through three segments: Banking Realty and Insurance. It accepts various deposits including demand deposits savings accounts money rate savings certificates of deposit and individual retirement accounts. The company also offers secured and unsecured personal loans for financing automobiles home improvements education and personal investments; commercial loans for working capital business expansion and equipment and machinery purchases; and mortgage loans as well as real estate acquisition development and construction loans. In addition it provides other services such as safe deposit boxes treasury management services direct deposit of payroll and social security checks and automatic drafts for various accounts as well as online mobile and on-call banking services. Further the company offers documentation services to accomplish tax deferral to investors; investment and asset management services; commercial mortgage brokerage services; and other financial services such as financial retirement and estate planning services as well as assistance on various investment options comprising alternative investments annuities margin accounts convertible bonds and pension and profit-sharing plans. Additionally it provides residential real estate relocation property management vacation rentals and title and settlement services; and originates residential mortgage loans. The company also offers life property casualty and vehicle insurance services; and employee benefit programs such as health dental vision and disability insurance. It operates in Richmond Virginia the Greater Hampton Roads region in southeastern Virginia northeastern North Carolina Raleigh Charlotte Greensboro and Greenville North Carolina. TowneBank was incorporated in 1998 and is based in Portsmouth Virginia.