TowneBank will donate $500,000 to the newly created Virginia Beach Tragedy Fund to benefit the victims and families of those killed and wounded in the Operations Building at the municipal complex on May 31.

The donation will be given directly to United Way of South Hampton Roads, which at the city’s request agreed to be the fiscal partner in the collection of the contributions, according to a press release from TowneBank.

“This is a horrible tragedy for our entire community but particularly for the spouses, children, parents and others who will be so deeply affected by the loss of their loved ones for the rest of their lives,” said Morgan Davis, president of TowneBank. “We trust United Way and the City of Virginia Beach to administer these dollars fairly and compassionately to benefit those who have been impacted by this senseless act of violence. We hope that other companies and individuals will join us in assisting the victims in this manner so that they do not have to shoulder the costs of funerals, children’s education and other expenses alone.”

Those wishing to make donations to the Virginia Beach Tragedy Fund can do so on the United Way of South Hampton Roads website at www.unitedwayshr.org/vabeach. They can also text keyword VABEACH to 41444. One hundred percent of the funds will go to the victims, according to United Way, which states further that “because donations given to victim assistance funds are generally considered personal gifts,” they are not guaranteed to be tax deductible. TowneBank is asking that a portion of its donation be earmarked for burial expenses.

In addition to online financial gifts, TowneBank will accept checks made out to the Virginia Beach Tragedy Fund at any of its branches starting Monday and will deliver them to United Way of South Hampton Roads. A list of bank branches can be found at www.townebank.com/locations.