TowneBank debuts

Staff

Published Thursday, July 24, 2003

Suffolk News-Herald

Hundreds of people turned out Thursday for debut of TowneBank's new $10 million, 60,000-square-foot member service center in northern Suffolk.

The center, located at 6001 Harbour View Boulevard, will operate at a maximum capacity of $1.5 billion in assets. It will house the operations, electronic banking, technology, loan services, deposit services, audit services, risk management, executive offices, human resources and marketing for the region's largest community bank.

The bank's checks, deposits and cash wire services will also be processes at the facility.

"Our new member service center provides many exceptional benefits to both our partners and staff," said G. Robert Aston Jr., TowneBank chairman and CEO. "We are now positioned for our future growth and operating at maximum efficiency by consolidating many of our key functions within the center."

No public banking services will be available at the new Suffolk center now, said Aston. However, the site includes enough space for a future 5,500-square-foot branch.

The new center is one of several major expansions Townebank is undergoing, Aston said.

Work is under way on a new Pembroke branch bank in Virginia Beach and construction recently completed on its Great Bridge branch in Chesapeake.

The bank also has plans to open a third Portsmouth branch by renovating the Wachovia building in the downtown area.

TowneBank selected Suffolk because of its central location in Hampton Roads, Aston said.

"Harbour View's location is ideal because it supports our Portsmouth, Chesapeake and Virginia Beach branches and it supports the future expansion we are planning in Norfolk, Suffolk and the Peninsula," he said.

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