TowneBank reports strong growth

Published 10:32 pm Thursday, April 27, 2017

TowneBank has reported earnings of $21.97 million for the quarter ended March 31, as compared to the 
$17.82 million reported for the comparative period in 2016, representing a 23.28-percent increase.

Fully diluted earnings per share were $0.35 per share, unchanged from the comparative period of 2016.

The bank’s quarterly dividend was 13 cents per share, resulting in total common dividends of $8.13 million. The current dividend represents an increase of 8.3 percent over the dividend paid during the same quarter of 2016.

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“We are pleased to announce another quarter of strong earnings with solid loan and deposit growth,” said G. Robert Aston Jr., chairman and chief executive officer.