Below are the financial statements of TowneBank, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
| All figures in millions of USD | 2024 as of 2024-12-31 | 2023 as of 2023-12-31 |
|---|---|---|
| Assets | — | — |
| Cash and due from banks | 108.75a | 85.58a |
| Interest-bearing deposits at FRB | 1,127.88a | 939.36a |
| Interest-bearing deposits in financial institutions | 102.85a | 103.42a |
| Total cash and cash equivalents | 1,339.48a | 1,128.36a |
| Securities available for sale, at fair value | 2,353.37a | 2,129.34a |
| Securities held to maturity, at amortized cost | 212.35a | 477.59a |
| Less: allowance for credit losses | -0.08a | -0.08a |
| Securities held to maturity, net of allowance for credit losses | 212.28a | 477.51a |
| Other equity securities | 12.1a | 13.79a |
| FHLB stock | 12.14a | 21.37a |
| Total securities | 2,589.88a | 2,642.01a |
| Mortgage loans held for sale | 200.46a | 149.99a |
| Loans, net of unearned income and deferred costs | 11,459.06a | 11,329.02a |
| Less: allowance for credit losses on loans | -123.92a | -126.46a |
| Net loans | 11,335.13a | 11,202.56a |
| Premises and equipment, net | 368.88a | 337.6a |
| Goodwill | 457.62a | 456.34a |
| Other intangible assets, net | 60.17a | 64.63a |
| BOLI | 279.8a | 277.45a |
| Other assets | 615.48a | 576.11a |
| Total assets | 17,246.89a | 16,835.04a |
| Liabilities and equity | — | — |
| Deposits | — | — |
| Noninterest-bearing demand | 4,253.05a | 4,342.7a |
| Interest-bearing | — | — |
| Demand and money market accounts | 7,329.67a | 6,757.62a |
| Savings | 311.84a | 336.49a |
| Certificates of deposit | 2,542.74a | 2,456.39a |
| Total deposits | 14,437.3a | 13,893.21a |
| Advances from the FHLB | 3.22a | 203.96a |
| Subordinated debt, net | 260a | 255.8a |
| Repurchase agreements and other borrowings | 33.68a | 32.83a |
| Total borrowings | 296.9a | 492.58a |
| Other liabilities | 357.06a | 393.38a |
| Total liabilities | 15,091.26a | 14,779.16a |
| Preferred stock | 0a | 0a |
| Common stock | — | — |
| Issued and outstanding shares | 125.46a | 124.85a |
| Capital surplus | 1,122.15a | 1,112.76a |
| Retained earnings | 1,007.78a | 921.13a |
| Common stock issued to deferred compensation trust, at cost | -21.87a | -20.81a |
| Deferred compensation trust | 21.87a | 20.81a |
| Accumulated other comprehensive income (loss) | -116.05a | -118.76a |
| Total shareholders' equity | 2,139.33a | 2,039.97a |
| Noncontrolling interest | 16.3a | 15.91a |
| Total equity | 2,155.63a | 2,055.88a |
| Total liabilities and equity | 17,246.89a | 16,835.04a |
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