Towne Bank.
TOWN.US | Other monetary intermediation
TowneBank is a regional bank holding company providing a range of retail and commercial banking services. Its primary activities include accepting deposits, making loans, and providing other financial services to individuals and businesses. The bank's loan portfolio includes commercial real estate, ...Show More
Better Health for All
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TowneBank's core banking and insurance services have no direct positive or negative health impact. The company demonstrates substantial support for the healthcare workforce by donating $500,000 to create scholarships at Carolinas College of Health Sciences, specifically targeting underrepresented students in clinical laboratory science, diagnostic and imaging science, and nursing.
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TowneBank also shows a substantial focus on preventative health measures and healthcare education through its partnership with Riverside Health and the American Heart Association to distribute over 100 infant CPR training kits, which include materials for infant CPR, choking relief, and injury prevention.
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Fair Money & Economic Opportunity
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TowneBank received an "Outstanding" Community Reinvestment Act (CRA) rating from the FDIC for the sixth consecutive time, with examiners identifying no discriminatory or illegal credit practices.
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During the evaluation period (October 2019 - January 2023), the bank extended 806 community development loans totaling $657.5 million, which represents approximately 6.1% of its $10.8 billion total loans as of December 31, 2022.
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The bank also committed $227 million to affordable housing investments since 2013, with another $132 million in the pipeline for 2022, creating over 3,000 homes.
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The bank offers online and mobile banking, bill pay, and a toll-free call center at no cost 24 hours a day.
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From the prior evaluation through December 31, 2022, the bank's qualified investments and donations totaled $207.4 million.
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The bank offers in-person and virtual financial literacy courses, including a proprietary program, Making Money Count, which reached approximately 20,000 low- and moderate-income students in Richmond area schools.
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The bank operates 43 full-service branch offices and 42 ATMs across eastern Virginia and central/eastern/southwestern North Carolina.
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It offers HomeTowne Partners Checking and Community Partners Checking and Savings Accounts with no minimum balance, no monthly fees, unlimited check writing, and free checks.
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Fair Pay & Worker Respect
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Insufficient evidence to determine a value score for Towne Bank regarding Fair Pay & Worker Respect. No articles or relevant information found. A neutral score of 0 is assigned.
Materiality Analysis: Company Summary (75-100 words): TowneBank is a regional bank operating in Virginia and North Carolina, providing retail and commercial banking services. Its core business includes deposit accounts, personal and commercial loans, and mortgage lending. The company also offers related services such as insurance, realty, and investment management. Recent strategic changes or expansions are not specified, but its operational footprint is concentrated in the Southeastern US. The company's revenue is derived primarily from interest income and fees associated with its banking and financial service offerings.
Peer Comparison (50-75 words): Compared to regional banking peers, TowneBank's performance on "Fair Pay & Worker Respect" is likely at the industry standard. Banks generally have structured compensation and benefits programs. However, variations exist in CEO-to-median-employee pay ratios and diversity metrics. Public data on specific labor practices is limited unless controversies arise.
Materiality Assessment (1-2 clear sentences): TowneBank's business model has a medium level of materiality in relation to "Fair Pay & Worker Respect" because its direct impact on employees' wages, benefits, and working conditions is significant, but its indirect impact through supply chains is limited.
Detailed Rationale (150-200 words): As a financial institution, TowneBank's primary impact on "Fair Pay & Worker Respect" stems from its direct employment practices. This includes ensuring fair wages, providing adequate benefits (health insurance, retirement plans), maintaining safe working conditions in its branches and offices, and fostering a respectful workplace culture. Key considerations include the CEO-to-median-employee pay ratio, pay equity across genders and ethnicities, and employee turnover rates. While TowneBank doesn't have extensive supply chains like manufacturing companies, it still procures goods and services (office supplies, IT services). Ensuring these suppliers adhere to basic labor standards is a secondary consideration. The company's insurance and realty segments also have employees whose welfare is relevant. Publicly available data on these metrics is limited, making a precise assessment challenging. However, any significant labor-related controversies would be a clear red flag.
Value Interaction Notes (if applicable, 25-50 words): There may be tension between profitability and increasing wages/benefits. Scoring on "Fair Pay & Worker Respect" should consider the regional cost of living and industry compensation benchmarks.
Scoring Boundary Flags (if applicable, 25-50 words): Scores indicating extremely poor labor practices (e.g., forced labor, systemic discrimination) would be illogical for a US-based regional bank. Scores below 3/10 should be carefully scrutinized.
Fair Trade & Ethical Sourcing
0
TowneBank, as a financial institution, does not procure or trade physical commodities, nor does it have a supplier base requiring welfare or sourcing audits, exposure to upstream labor practices, or supply chain tiers to map in the context of fair trade and ethical sourcing. Therefore, several KPIs are N/A. No specific evidence was provided regarding the percentage of suppliers with enforceable ethical-sourcing clauses or the percentage of procurement budget directed to diverse suppliers.
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Honest & Fair Business
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TowneBank maintains a retaliation-free whistleblower policy with annual employee training.
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The company has a Code of Conduct and Code of Ethics, both approved annually by the Board, which prohibit bribes, kickbacks, and improper payments, and require reporting of such violations.
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However, the effectiveness metrics for these policies are not publicly measured, and training frequency for the anti-corruption policy is not specified beyond annual acknowledgment. Of the 29 directors, 21 are independent, which equates to approximately 72.4% of the board.
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The company mentions independent audit opinions and engages independent third parties for internal and external penetration testing, risk assessments, and executive compensation consulting, but specific details on the scope or percentage of ethical claims verified are not provided.
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Kind to Animals
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TowneBank is a service-oriented financial institution and, as such, does not have products requiring cruelty-free certification, engage in animal testing, operate animal husbandry facilities, source animal-derived ingredients, or conduct animal agriculture. Therefore, most KPIs related to these activities are not applicable (N/A). The company supports animal welfare through community engagement. TowneBank is the Virginia Beach SPCA's 2026 Humane Education Sponsor, helping to fund programs that educate and inspire compassion for animals.
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In 2024, TowneBank received the Compassion Award from the Virginia Beach SPCA and sponsors their Wags and Whiskers Gala and Puttin' for Paws Charity Golf Tournament.
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TowneBank also provides financial services to veterinary practices, indirectly supporting animal care.
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The company gave to 79 charities, including those with animal welfare missions.
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No War, No Weapons
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The provided articles do not contain specific, concrete data points for any of the KPIs related to the 'No War, No Weapons' ethical value. Information regarding arms contracts, dual-use technology, sales to embargoed regimes, peacebuilding investment, conflict divestment, board oversight of defense activities, export certifications, lobbying, humanitarian compliance, human rights due diligence, AI military safeguards, UN Guiding Principles alignment, dual-use screening, surveillance transparency, ethical red lines, zero exposure to controversial weapons, war risk audits, annual conflict partner reviews, defense divestment, conflict minerals, peace tech investment, conflict zone procurement, or ethical red lines compliance rate is explicitly stated as not provided or not focused on in the summaries.
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Planet-Friendly Business
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TowneBank does not have publicly available carbon emissions data or specific reduction targets, making it impossible to assess its carbon footprint or participation in reduction initiatives.
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No information is available regarding the share of its operational energy from renewables, water usage, waste diversion, or green building certifications for its facilities.
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The company also lacks public data on environmental compliance violations, climate-related financial disclosures, or investments in climate-positive initiatives.
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There is no evidence of specific programs addressing climate justice, just transition, or climate adaptation financing.
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Respect for Cultures & Communities
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TowneBank supports over 200 local non-profit organizations annually, having supported 1,448 non-profits since 1999.
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The TowneBank Foundation provides grants and donations to more than 200 non-profit organizations each year.
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This level of engagement significantly exceeds the threshold for over 20 formal partnerships with local community groups.
Safe & Smart Tech
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TowneBank experienced a data breach in August 2025 at a third-party vendor, Marquis Software Solutions, involving member information, though the company is not aware of any customers being victims of fraud or identity theft.
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Separately, a fraudster gained access to a member's cell phone number and rerouted communications, attempting to change a TowneBank password and make a wire transfer, which failed due to the bank's authentication questions.
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The company offers free credit monitoring programs to customers following the breach and notified customers by letter.
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TowneBank states its security measures comply with federal law and it is responsible for compliance with federal and state laws and regulations.
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However, it also states that the information provided is not intended to be legal, tax, or financial advice.
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Users have some control over their data, such as the ability to accept or decline cookies and opt out of online behavioral advertising and marketing promotions from the Towne family of companies, though opt-out requests take 10 to 15 days to process and only apply to personal consumers.
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The company recommends users install and regularly update anti-virus, anti-spyware, and firewall software, and use strong, different passwords for online accounts.
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Zero Waste & Sustainable Products
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TowneBank has implemented several waste reduction initiatives. The company encourages customers to use online and mobile banking and opt-in for electronic statements, with over 60% of mortgage loan applicants in 2024 applying online and over 92% of mortgage borrowers receiving, completing, and signing their loan packages electronically.
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Additionally, TowneBank utilizes energy-saving LED bulbs and fixtures throughout its facilities, and new and renovated locations include energy-efficient time-controlled HVAC systems and light fixtures with motion-detecting sensors.
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For customer waste education, TowneBank supports Reconsidered Goods, a non-profit that provides outreach programs, including field trips for children aged 8-15, to teach about reuse and recycling.
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Reconsidered Goods also engages with the community at events and festivals to discuss their work.
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