SUFFOLK, Va., Feb. 4, 2014 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (the "Bank") (Nasdaq:TOWN) reported record earnings of $41.76 million for the year ended December 31, 2013, a 10.10%, or $3.83 million, increase over the $37.93 million reported for 2012. Net income available to common shareholders for 2013 increased 18.39% after preferred dividend payments of $4.23 million. Fully diluted earnings per share reached the highest level in the Bank's 15-year history ending the year at $1.16 per share, an increase of 12.62% over 2012.
TowneBank Reports Record Earnings For 2013
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts