Published 10:50 pm Thursday, March 29, 2018
Greenwich Associates, an independent financial consulting and research firm, recently recognized TowneBank with seven awards of excellence, the 12th year in a row the organization has cited the Virginia-based financial institution.
To tabulate rankings, Greenwich Associates, headquartered in Greenwich, Conn., surveyed more than 15,000 small business banking clients with $1 million to $10 million in annual sales. Participants rated the financial institutions on a range of factors based on a five-point scale. From the responses, a select number of banks that performed at levels higher than their peers was identified. The selected banks received a higher percentage of excellent ratings at a 95-percent confidence level than the average of other eligible banks. Out of the more than 600 banks evaluated nationwide, just 33, including TowneBank, were acknowledged as having “distinctive quality.”
The most recent survey noted TowneBank’s strong performance in the following categories:
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Likelihood to Recommend
Southern Region Awards
Proactively Provides Advice
Cash Management – Overall Satisfaction
Cash Management – Overall Digital Experience
TowneBank operates 40 banking offices serving communities in Virginia and North Carolina.
With total assets of $8.52 billion as of December 31, 2017, TowneBank is one of the largest banks headquartered in Virginia. Based on financial data as of September 30, 2017 and reflecting the recently completed merger with Paragon Commercial Corporation, TowneBank would have total assets of $10.5 billion, gross loans of $7.3 billion and total deposits of $7.8 billion.