Towne Bank Mortgage Rates, Fees & Info

Portsmouth, VA

LEI: 54930039UO39UJGI7078

Tax ID: 54-1910608

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

Towne Bank is a small bank specializing in Home Purchase loans. Towne Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Virginia Beach, Washington, Baltimore, Richmond, and Charlotte among others. We have data for 101 markets. (Some data included below & more in-depth data is available with an active subscription.)

Towne Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Towne Bank is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
Home Equity Line of Credit (HELOC)	6.27%	11/22/24
30 Year Conventional Purchase	6.63%	11/22/24
30 Year Conventional Refi	6.49%	11/22/24
30 Year Cash-out Refi	6.66%	11/22/24
30 Year FHA Purchase	7.14%	11/22/24
30 Year FHA Refi	7.16%	11/22/24
30 Year VA Purchase	6.15%	11/22/24
30 Year VA Refi	5.87%	11/22/24
30 Year USDA Purchase	6.60%	11/22/24
30 Year USDA Refi	6.78%	11/22/24
15 Year Conventional Purchase	6.12%	11/22/24
15 Year Conventional Refi	6.12%	11/22/24
15 Year Cash-out Refi	6.12%	11/22/24
15 Year VA Refi	6.04%	11/22/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Towne Bank Mortgage Calculator

Purchase Price:

Loan Amount:

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% Deposit:

Interest Rate:

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Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Towne Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.

Originations

9,063

Origination Dollar Volume (All Markets)

$2,500,155,000

Employee count

2,174

Awards

Towne Bank 30 Year Conventional Loans bronze

Show all (6) awards

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market	Originations	Total Value	Average Loan	Average Fees	Average Rate
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA\|USDA\|VA)	2,421	$634,305,000	$262,001	$5,990	4.72%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA\|USDA\|VA)	1,713	$554,235,000	$323,546	$6,714	4.63%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA\|USDA\|VA)	1,288	$359,110,000	$278,812	$6,198	4.63%
RICHMOND, VA (FHA\|USDA\|VA)	892	$231,940,000	$260,022	$5,318	4.74%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA\|USDA\|VA)	644	$153,580,000	$238,478	$4,813	4.80%
RALEIGH-CARY, NC (FHA\|USDA\|VA)	462	$145,850,000	$315,693	$5,215	4.76%
WILMINGTON, NC (FHA\|USDA\|VA)	277	$77,735,000	$280,632	$3,652	4.69%
Kill Devil Hills, NC (FHA\|USDA\|VA)	252	$67,870,000	$269,325	$4,070	4.65%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA\|USDA\|VA)	138	$36,680,000	$265,797	$3,426	4.75%
Outside of Metro Areas	147	$34,155,000	$232,347	$4,855	4.77%
DURHAM-CHAPEL HILL, NC (FHA\|USDA\|VA)	63	$28,485,000	$452,143	$4,554	4.80%
CALIFORNIA-LEXINGTON PARK, MD (FHA\|USDA\|VA)	101	$27,295,000	$270,248	$5,380	4.64%
CHARLESTON-NORTH CHARLESTON, SC (FHA\|USDA\|VA)	101	$21,275,000	$210,644	$4,742	4.69%
FAYETTEVILLE, NC (FHA\|USDA\|VA)	82	$14,510,000	$176,951	$4,439	4.83%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA\|USDA\|VA)	47	$10,005,000	$212,872	$5,305	4.70%
SALISBURY, MD-DE (FHA\|USDA\|VA)	42	$8,590,000	$204,524	$4,426	4.58%
ASHEVILLE, NC (FHA\|USDA\|VA)	27	$7,145,000	$264,630	$4,858	4.72%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA\|USDA\|VA)	21	$5,605,000	$266,905	$6,518	4.60%
Morehead City, NC (FHA\|USDA\|VA)	14	$5,600,000	$400,000	$4,149	4.85%
YORK-HANOVER, PA (FHA\|USDA\|VA)	23	$5,235,000	$227,609	$6,248	4.57%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA\|USDA\|VA)	11	$4,125,000	$375,000	$6,930	4.72%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA\|USDA\|VA)	14	$3,640,000	$260,000	$4,923	4.74%
Albemarle, NC (FHA\|USDA\|VA)	22	$3,490,000	$158,636	$4,131	4.82%
CHARLOTTESVILLE, VA (FHA\|USDA\|VA)	11	$3,205,000	$291,364	$5,794	4.75%
Elizabeth City, NC (FHA\|USDA\|VA)	20	$3,110,000	$155,500	$4,607	4.94%
BURLINGTON, NC (FHA\|USDA\|VA)	15	$3,045,000	$203,000	$4,934	4.88%
Easton, MD (FHA\|USDA\|VA)	7	$2,995,000	$427,857	$5,551	4.48%
JACKSONVILLE, NC (FHA\|USDA\|VA)	10	$2,910,000	$291,000	$5,383	4.76%
ROCKY MOUNT, NC (FHA\|USDA\|VA)	18	$2,560,000	$142,222	$3,709	4.91%
Roanoke Rapids, NC (FHA\|USDA\|VA)	3	$2,115,000	$705,000	$3,587	4.21%
PITTSBURGH, PA (FHA\|USDA\|VA)	8	$1,940,000	$242,500	$6,723	4.53%
Pinehurst-Southern Pines, NC (FHA\|USDA\|VA)	4	$1,870,000	$467,500	$5,051	4.54%
GREENSBORO-HIGH POINT, NC (FHA\|USDA\|VA)	11	$1,645,000	$149,545	$3,156	5.05%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA\|USDA\|VA)	5	$1,475,000	$295,000	$4,562	4.93%
GETTYSBURG, PA (FHA\|USDA\|VA)	7	$1,385,000	$197,857	$6,125	4.36%
HICKORY-LENOIR-MORGANTON, NC (FHA\|USDA\|VA)	5	$1,345,000	$269,000	$3,745	4.80%
WINSTON-SALEM, NC (FHA\|USDA\|VA)	4	$1,130,000	$282,500	$4,526	4.88%
NAPLES-MARCO ISLAND, FL (FHA\|USDA\|VA)	2	$1,110,000	$555,000	$4,886	4.88%
ROANOKE, VA (FHA\|USDA\|VA)	4	$1,100,000	$275,000	$3,407	4.81%
STAUNTON, VA (FHA\|USDA\|VA)	6	$1,100,000	$183,333	$4,667	4.98%
CAPE CORAL-FORT MYERS, FL (FHA\|USDA\|VA)	4	$1,070,000	$267,500	$5,494	4.56%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA\|USDA\|VA)	5	$1,065,000	$213,000	$6,368	4.69%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA\|USDA\|VA)	3	$1,055,000	$351,667	$4,768	4.58%
GREENVILLE-ANDERSON, SC (FHA\|USDA\|VA)	6	$1,040,000	$173,333	$4,202	4.74%
LYNCHBURG, VA (FHA\|USDA\|VA)	6	$1,010,000	$168,333	$4,123	4.93%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA\|USDA\|VA)	3	$985,000	$328,333	$4,387	4.96%
Greenwood, SC (FHA\|USDA\|VA)	6	$970,000	$161,667	$3,723	4.60%
GREENVILLE, NC (FHA\|USDA\|VA)	6	$940,000	$156,667	$3,968	5.06%
PORT ST. LUCIE, FL (FHA\|USDA\|VA)	4	$920,000	$230,000	$4,042	4.56%
PENSACOLA-FERRY PASS-BRENT, FL (FHA\|USDA\|VA)	3	$825,000	$275,000	$5,887	4.71%
Kinston, NC (FHA\|USDA\|VA)	1	$815,000	$815,000	$0	4.99%
Key West, FL (FHA\|USDA\|VA)	1	$795,000	$795,000	$7,584	4.88%
Boone, NC (FHA\|USDA\|VA)	2	$750,000	$375,000	$6,469	4.88%
READING, PA (FHA\|USDA\|VA)	2	$740,000	$370,000	$6,716	4.50%
LANCASTER, PA (FHA\|USDA\|VA)	3	$655,000	$218,333	$3,276	4.46%
CHATTANOOGA, TN-GA (FHA\|USDA\|VA)	2	$600,000	$300,000	$4,501	5.38%
Sanford, NC (FHA\|USDA\|VA)	3	$525,000	$175,000	$4,292	4.67%
HARRISBURG-CARLISLE, PA (FHA\|USDA\|VA)	2	$520,000	$260,000	$2,389	4.63%
Brevard, NC (FHA\|USDA\|VA)	2	$510,000	$255,000	$3,609	4.69%
NEW BERN, NC (FHA\|USDA\|VA)	1	$505,000	$505,000	$7,473	4.38%
CHAMBERSBURG-WAYNESBORO, PA (FHA\|USDA\|VA)	3	$495,000	$165,000	$5,048	4.50%
Cambridge, MD (FHA\|USDA\|VA)	5	$455,000	$91,000	$5,441	4.50%
Wilson, NC (FHA\|USDA\|VA)	3	$445,000	$148,333	$5,796	4.38%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA\|USDA\|VA)	1	$415,000	$415,000	$0	4.96%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA\|USDA\|VA)	1	$415,000	$415,000	$3,410	4.75%
JACKSONVILLE, FL (FHA\|USDA\|VA)	2	$390,000	$195,000	$8,557	4.19%
JOHNSON CITY, TN (FHA\|USDA\|VA)	1	$365,000	$365,000	$3,467	4.88%
HARRISONBURG, VA (FHA\|USDA\|VA)	1	$325,000	$325,000	$3,251	4.63%
BLACKSBURG-CHRISTIANSBURG, VA (FHA\|USDA\|VA)	2	$310,000	$155,000	$4,662	4.88%
LEBANON, PA (FHA\|USDA\|VA)	1	$295,000	$295,000	$9,470	4.00%
Sayre, PA (FHA\|USDA\|VA)	1	$295,000	$295,000	$9,435	4.50%
GOLDSBORO, NC (FHA\|USDA\|VA)	1	$295,000	$295,000	$8,586	5.38%
WINCHESTER, VA-WV (FHA\|USDA\|VA)	1	$265,000	$265,000	$6,196	4.88%
ATHENS-CLARKE COUNTY, GA (FHA\|USDA\|VA)	1	$265,000	$265,000	$0	5.25%
PUNTA GORDA, FL (FHA\|USDA\|VA)	1	$255,000	$255,000	$5,364	5.00%
HOMOSASSA SPRINGS, FL (FHA\|USDA\|VA)	1	$245,000	$245,000	$3,419	4.50%
Cullowhee, NC (FHA\|USDA\|VA)	1	$235,000	$235,000	$5,597	4.13%
FLORENCE, SC (FHA\|USDA\|VA)	3	$235,000	$78,333	$0	3.90%
Washington, NC (FHA\|USDA\|VA)	2	$220,000	$110,000	$3,475	4.94%
CLARKSVILLE, TN-KY (FHA\|USDA\|VA)	1	$215,000	$215,000	$5,899	4.13%
North Wilkesboro, NC (FHA\|USDA\|VA)	1	$215,000	$215,000	$3,057	5.00%
DOVER, DE (FHA\|USDA\|VA)	2	$210,000	$105,000	$3,009	4.81%
Danville, VA (FHA\|USDA\|VA)	2	$210,000	$105,000	$0	5.42%
Georgetown, SC (FHA\|USDA\|VA)	1	$205,000	$205,000	$3,165	4.38%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA\|USDA\|VA)	1	$205,000	$205,000	$8,229	4.63%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA\|USDA\|VA)	1	$165,000	$165,000	$0	5.00%
North Port-Sarasota-Bradenton, FL (FHA\|USDA\|VA)	1	$145,000	$145,000	$2,311	4.38%
COLUMBIA, SC (FHA\|USDA\|VA)	1	$145,000	$145,000	$2,698	5.00%
ALBANY, GA (FHA\|USDA\|VA)	1	$145,000	$145,000	$2,696	4.00%
CUMBERLAND, MD-WV (FHA\|USDA\|VA)	1	$145,000	$145,000	$4,092	5.88%
UTICA-ROME, NY (FHA\|USDA\|VA)	1	$145,000	$145,000	$0	5.25%
SPARTANBURG, SC (FHA\|USDA\|VA)	1	$125,000	$125,000	$2,599	5.75%
HINESVILLE, GA (FHA\|USDA\|VA)	1	$125,000	$125,000	$0	6.13%
SUMTER, SC (FHA\|USDA\|VA)	1	$125,000	$125,000	$3,854	4.38%
Henderson, NC (FHA\|USDA\|VA)	1	$115,000	$115,000	$6,725	5.00%
Lumberton, NC (FHA\|USDA\|VA)	1	$105,000	$105,000	$2,638	4.88%
Gaffney, SC (FHA\|USDA\|VA)	1	$95,000	$95,000	$4,643	5.13%
OCALA, FL (FHA\|USDA\|VA)	1	$95,000	$95,000	$0	4.18%
Shelby, NC (FHA\|USDA\|VA)	1	$85,000	$85,000	$5,074	4.88%
Rockingham, NC (FHA\|USDA\|VA)	1	$75,000	$75,000	$2,838	5.13%
Orangeburg, SC (FHA\|USDA\|VA)	1	$45,000	$45,000	$0	4.93%

Towne Bank's top markets include Virginia Beach, Washington, Baltimore, Richmond, and Charlotte among others.

Their top states include:

Virginia (FHA|USDA|VA)

Maryland (FHA|USDA|VA)

North Carolina (FHA|USDA|VA)

District of Columbia (FHA|USDA|VA)

South Carolina (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against Towne Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

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Columbia Bank
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NEWPORT NEWS SHIPBUILDING EMPLOYEES
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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	5,581	$1,637,415,000	$293,391	$4,511	4.84%
FHA	1,441	$366,725,000	$254,493	$8,565	4.61%
HELOC	864	$153,370,000	$177,512	n/a	4.17%
VA	841	$277,705,000	$330,208	$7,428	4.50%
USDA	217	$46,585,000	$214,677	$5,883	4.63%
FHA	60	$9,240,000	$154,000	$0	5.02%
FHA	59	$9,115,000	$154,492	$0	4.51%

For 2018, Towne Bank's most frequently originated type of loan was Conventional, with 5,581 originations. Their 2nd most popular type was FHA, with 1,441 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	7,057	$1,969,485,000	$279,082	$5,804	4.75%
Refi	990	$327,320,000	$330,626	$5,003	4.61%
Cash Out Refi	422	$110,310,000	$261,398	$5,433	4.84%
Other	374	$61,520,000	$164,492	$4,289	4.08%
Home Improvement	219	$31,215,000	$142,534	$4,200	4.23%
NA	1	$305,000	$305,000	$0	4.25%

For 2018, Towne Bank's most frequently cited loan purpose was Home Purchase, with 7,057 originations. The 2nd most popular reason was Refi, with 990 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	6,952	$1,958,660,000	$281,741	$5,721	4.72%
30+ year	853	$164,315,000	$192,632	$18,743	4.15%
Other	293	$107,845,000	$368,072	$8,683	5.13%
15 Year	284	$65,350,000	$230,106	$4,274	4.35%
5 Year	233	$55,165,000	$236,760	$2,270	5.02%
1 Year	232	$40,280,000	$173,621	$2,847	5.66%
20 Year	107	$29,225,000	$273,131	$3,595	5.02%
10 Year	99	$76,655,000	$774,293	$6,190	4.80%
3 Year	10	$2,660,000	$266,000	$0	5.26%

For 2018, Towne Bank's most frequently cited loan duration was 30 Year, with 6,952 originations. The 2nd most popular length was 30+ year, with 853 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$1k-2k	2,999	$848,155,000	$282,813
$<1k	2,572	$660,200,000	$256,687
$2k-3k	610	$164,600,000	$269,836
$5k+	320	$197,190,000	$616,219
$3k-4k	319	$104,915,000	$328,887
$4k-5k	203	$83,655,000	$412,094

Towne Bank's average total fees were $5,721, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 2,999 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	6,261	$1,907,795,000	$304,711
5-6%	1,648	$385,940,000	$234,187
3-4%	453	$144,185,000	$318,289
2.5-3%	367	$43,195,000	$117,698
6-7%	111	$17,685,000	$159,324
7-8%	4	$240,000	$60,000
<2.5%	2	$10,000	$5,000

During 2018, Towne Bank's average interest rate for loans was 4.72%, while their most frequently originated rate bucket for loans was 4-5%, with 6,261 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	4,115	$1,158,935,000	$281,637	$5,693	4.66%
$100k-200k	2,430	$372,370,000	$153,239	$4,148	4.82%
$100,000 or less	1,073	$48,985,000	$45,652	$3,051	4.66%
$400k-600k	1,048	$490,830,000	$468,349	$7,437	4.62%
$600k-1MM	294	$211,490,000	$719,354	$8,126	4.68%
$1MM+	103	$217,545,000	$2,112,087	$13,377	4.71%

2018 saw Towne Bank place emphasis on $200k-400k loans with 4,115 originations, totaling $1,158,935,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	2,107	$423,185,000	$200,847	$5,315	4.68%
$100k-150k	1,738	$526,990,000	$303,216	$6,169	4.63%
$75k-100k	1,376	$359,510,000	$261,272	$5,860	4.64%
$50k or less	1,339	$179,645,000	$134,164	$4,467	4.74%
$150k-250k	1,187	$418,455,000	$352,532	$5,899	4.59%
$250k+	696	$362,350,000	$520,618	$7,076	4.60%

Towne Bank lent most frequently to those with incomes in the $50k-75k range, with 2,107 originations. The second most popular income band? $100k-150k, with 1,738 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	1,436	$407,960,000	$284,095	$5,200	4.60%
30-36%	1,406	$376,010,000	$267,432	$5,431	4.64%
<20%	568	$150,370,000	$264,736	$4,756	4.49%
44%	442	$103,230,000	$233,552	$6,003	4.70%
42%	410	$108,130,000	$263,732	$5,595	4.75%
50-60%	392	$118,800,000	$303,061	$8,340	4.51%
40%	381	$100,105,000	$262,743	$5,593	4.73%
39%	363	$97,505,000	$268,609	$5,635	4.71%
41%	361	$90,175,000	$249,792	$5,380	4.75%
43%	341	$87,705,000	$257,199	$6,079	4.76%
49%	329	$86,155,000	$261,869	$5,695	4.65%
38%	312	$84,190,000	$269,840	$5,514	4.73%
36%	301	$83,195,000	$276,395	$5,649	4.70%
37%	296	$81,560,000	$275,541	$5,471	4.71%
45%	281	$76,365,000	$271,762	$6,029	4.66%
48%	279	$77,865,000	$279,086	$5,796	4.70%
46%	266	$67,480,000	$253,684	$6,104	4.70%
47%	264	$72,670,000	$275,265	$5,896	4.71%
>60%	44	$14,310,000	$325,227	$7,214	4.50%

Towne Bank lent most frequently to those with DTI ratios of 20-30%, with 1,436 originations. The next most common DTI ratio? 30-36%, with 1,406 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	6,222	$1,693,650,000	$272,203	$5,458	4.64%
Black	1,249	$303,725,000	$243,175	$6,978	4.73%
Not applicable	458	$194,960,000	$425,677	$0	5.48%
Not provided	593	$155,805,000	$262,740	$5,906	4.69%
Asian	494	$140,460,000	$284,332	$5,512	4.66%
American Indian	20	$5,260,000	$263,000	$5,639	4.68%
Native Hawaiian or Islander	16	$3,830,000	$239,375	$5,313	4.73%
Asian Indian	3	$725,000	$241,667	$0	3.74%
Other Pacific Islander	3	$715,000	$238,333	$3,874	5.25%
Vietnamese	2	$410,000	$205,000	$0	4.00%
Other Asian	1	$385,000	$385,000	$3,689	4.38%
Japanese	1	$195,000	$195,000	$2,981	4.88%
Korean	1	$35,000	$35,000	$0	2.99%

Approval Rates

Total approvals of all applications
95.58%

Towne Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
79.12%

Towne Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	9,063	$2,500,155,000	$275,864

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Manufactured	1	$1,605,000	$1,605,000
Multifamily:Site-Built	47	$108,685,000	$2,312,447
Single Family (1-4 Units):Manufactured	8	$1,050,000	$131,250
Single Family (1-4 Units):Site-Built	9,007	$2,388,815,000	$265,218

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	448	$88,280,000	$197,054	$3,617	4.43%
40-60%	733	$180,785,000	$246,637	$3,836	4.73%
60-80%	1,953	$669,385,000	$342,747	$4,362	4.88%
80-100%	4,920	$1,436,340,000	$291,939	$6,016	4.70%
Over 100%	283	$93,945,000	$331,961	$10,911	4.51%
Under 20%	726	$31,420,000	$43,278	$3,035	4.32%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Towne Bank	5100 Nine Mile Road Richmond, VA 23223	Full Service B&M	$37,961
Towne Bank	1 Colley Avenue, Suite 100 Norfolk, VA 23510	Full Service B&M	$93,241
Towne Bank	1 Old Oyster Point Road, Suite 100 Newport News, VA 23602	Full Service B&M	$456,525
Towne Bank	1006 Colley Avenue Norfolk, VA 23507	Full Service B&M	$120,044
Towne Bank	109 East Main Street Norfolk, VA 23510	Full Service B&M	$633,206
Towne Bank	11001 Warwick Boulevard Newport News, VA 23601	Full Service B&M	$164,998
Towne Bank	1312 Greenbrier Parkway Chesapeake, VA 23320	Full Service B&M	$676,782
Towne Bank	137 Mount Pleasant Road Chesapeake, VA 23322	Full Service B&M	$232,727
Towne Bank	1510 Quarterpath Road Williamsburg, VA 23185	Full Service B&M	$91,150
Towne Bank	1717 Bellevue Ave Richmond, VA 23227	Limited, Mobile/Seasonal Office	$9,984
Towne Bank	178 Hwy 158 W Camden, NC 27921	Full Service B&M	$44,761
Towne Bank	2 Juniper Trail Southern Shores, NC 27949	Full Service B&M	$266,881
Towne Bank	200 High Street Portsmouth, VA 23704	Full Service B&M	$160,363
Towne Bank	250 Caratoke Highway Moyock, NC 27958	Full Service B&M	$118,902
Towne Bank	2525 S. Croatan Hwy Nags Head, NC 27959	Full Service B&M	$69,255
Towne Bank	2539 Princess Anne Road Virginia Beach, VA 23456	Full Service B&M	$94,986
Towne Bank	297 Constitution Drive Virginia Beach, VA 23462	Full Service B&M	$417,623
Towne Bank	3100 Shore Drive Virginia Beach, VA 23451	Limited, Mobile/Seasonal Office	$20,075
Towne Bank	3535 Glenwood Avenue Raleigh, NC 27612	Full Service B&M	$641,693
Towne Bank	4501 Cox Road Glen Allen, VA 23060	Full Service B&M	$179,520
Towne Bank	4901 Libbie Mill East Boulevard Richmond, VA 23230	Full Service B&M	$85,314
Towne Bank	5000 Valleystone Dr., Ste110 Cary, NC 27519	Full Service B&M	$94,533
Towne Bank	5200 Providence Road Virginia Beach, VA 23464	Full Service B&M	$94,428
Towne Bank	5216 Monticello Avenue Williamsburg, VA 23188	Full Service B&M	$247,434
Towne Bank	550 Settlers Landing Road Hampton, VA 23669	Full Service B&M	$105,415
Towne Bank	5716 High Street Portsmouth, VA 23703	Full Service B&M	$408,949
Towne Bank	5806 Harbour View Boulevard Suffolk, VA 23435	Full Service B&M	$225,542
Towne Bank	600 22nd Street, Ste 100 Virginia Beach, VA 23451	Full Service B&M	$482,963
Towne Bank	6001 Harbour View Boulevard Suffolk, VA 23435	Limited, Administrative	$0
Towne Bank	6201 Portsmouth Boulevard Portsmouth, VA 23701	Full Service B&M	$152,936
Towne Bank	6337 Morrison Boulevard Charlotte, NC 28210	Full Service B&M	$445,791
Towne Bank	6515 George Washington Memorial Highway Yorktown, VA 23692	Full Service B&M	$65,988
Towne Bank	6670 Caratoke Highway Grandy, NC 27939	Full Service B&M	$24,171
Towne Bank	7013 Three Chopt Road Richmond, VA 23226	Full Service B&M	$168,550
Towne Bank	7279 Bell Creek Road, South Mechanicsville, VA 23111	Full Service B&M	$115,038
Towne Bank	7500 Granby Street Norfolk, VA 23505	Full Service B&M	$57,210
Towne Bank	800 E. Canal St, Suite 100 Richmond, VA 23219	Full Service B&M	$80,419
Towne Bank	824 Ocean Trail Corolla, NC 27927	Full Service B&M	$27,599
Towne Bank	9000 West Huguenot Road Richmond, VA 23235	Full Service B&M	$106,239
Towne Bank	984 First Colonial Road Virginia Beach, VA 23454	Full Service B&M	$470,948
Towne Bank	9961 Iron Bridge Road Chesterfield, VA 23832	Full Service B&M	$77,240

For 2018, Towne Bank had 41 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$422,141
Net interest income	$341,390
Total noninterest income	$271,599
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$11,491
Trading account gains and fees	$0
Additional Noninterest Income	$260,108
Pre-tax net operating income	$171,997
Securities gains (or losses, -)	$3
Income before extraordinary items	$137,774
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$137,774
Minority interest net income	$3,981
Net income	$133,793
Sale, conversion, retirement of capital stock, net	$7,204
Net operating income	$137,771

Towne Bank's gross interest income from loans was $422,141,000.
Towne Bank's net interest income from loans was $341,390,000.
Towne Bank's fee based income from loans was $11,491,000.
Towne Bank's net income from loans was $133,793,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$80,751
Provision for credit losses	$8,541
Total noninterest expense	$432,451
Salaries and employee benefits	$281,793
Premises and equipment expense	$42,121
Additional noninterest expense	$108,537
Applicable income taxes	$34,226
Net charge-offs	$1,578
Cash dividends	$44,865

Towne Bank's interest expense for loans was $80,751,000.
Towne Bank's payroll and benefits expense were $281,793,000.
Towne Bank's property, plant and equipment expenses $42,121,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	0.0%
Real Estate loans	0.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	0.0%
Multifamily residential loans	0.0%
1-4 family residential loans	0.0%
HELOC loans	0.0%
All other family	0.0%
Commercial & industrial loans	0.0%
Personal loans	0.0%
Credit card loans	0.0%
Other individual loans	0.0%
Auto loans	0.0%
Other consumer loans	0.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$8,411,320
Deposits held in domestic offices	$8,411,320
Deposits by Individuals, partnerships, and corporations	$7,890,549
Deposits by U.S. Government	$18
Deposits by States and political subdivisions in the U.S.	$513,311
Deposits by Commercial banks and other depository institutions in U.S.	$7,442
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$654,375
Demand deposits	$654,375
Nontransaction accounts	$7,756,945
Money market deposit accounts (MMDAs)	$5,158,387
Other savings deposits (excluding MMDAs)	$787,091
Total time deposits	$1,811,468
Total time and savings deposits	$7,756,945
Noninterest-bearing deposits	$2,663,659
Interest-bearing deposits	$5,747,661
Retail deposits	$7,452,430
IRAs and Keogh plan accounts	$214,036
Brokered deposits	$428,891
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$11,163,043
Cash & Balances due from depository institutions	$686,697
Interest-bearing balances	$592,093
Total securities	$1,145,936
Federal funds sold & reverse repurchase	$0
Net loans and leases	$8,187,138
Loan and leases loss allowance	$52,094
Trading account assets	$0
Bank premises and fixed assets	$211,796
Other real estate owned	$19,366
Goodwill and other intangibles	$492,410
All other assets	$419,700

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$11,163,043
Total Liabilities	$9,624,624
Total deposits	$8,411,320
Interest-bearing deposits	$5,747,661
Deposits held in domestic offices	$8,411,320
% insured (estimated)	$53
Federal funds purchased and repurchase agreements	$46,439
Trading liabilities	$0
Other borrowed funds	$800,032
Subordinated debt	$247,861
All other liabilities	$118,972

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$8,187,138
Loan and leases loss allowance	$52,094
Total loans and leases (domestic)	$8,239,232
All real estate loans	$6,417,450
Real estate loans in domestic offices	$6,417,450
Construction and development loans	$1,067,240
Residential 1-4 family construction	$537,134
Other construction, all land development and other land	$530,106
Loans secured by nonfarm nonresidential properties	$3,230,597
Nonfarm nonresidential secured by owner-occupied properties	$1,262,749
Commercial real estate & other non-farm, non-residential	$1,967,848
Multifamily residential real estate	$260,987
1-4 family residential loans	$1,847,882
Farmland loans	$10,744
Loans held in foreign offices	$0
Farm loans	$4
Commercial and industrial loans	$1,172,728
To non-U.S. addressees	$0
Loans to individuals	$311,310
Credit card loans	$0
Related Plans	$32,674
Consumer Auto Loans	$254,197
Other loans to individuals	$24,439
All other loans & leases	$337,740
Loans to foreign governments and official institutions	$0
Other loans	$7,464
Loans to depository institutions and acceptances of other banks	$9,669
Loans not secured by real estate	$58,871
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$20,417
Non 1-4 family restructured loans & leases	$12,990
Total loans and leases (foreign)	$0

Towne Bank had $8,187,138,000 of loans outstanding in 2018. $6,417,450,000 of loans were in real estate loans. $1,067,240,000 of loans were in development loans. $260,987,000 of loans were in multifamily mortgage loans. $1,847,882,000 of loans were in 1-4 family mortgage loans. $4,000 of loans were in farm loans. $0 of loans were in credit card loans. $254,197,000 of loans were in the auto loan category.

Small Business Loans

Categorization	# of Loans in Category	$ amount of loans (in 000's)	Average $/loan
Nonfarm, nonresidential loans - <$1MM	2,210	$670,797	$303,528
Nonfarm, nonresidential loans - <$100k	254	$14,036	$55,260
Nonfarm, nonresidential loans - $100-250k	610	$79,295	$129,992
Nonfarm, nonresidential loans - $250k-1MM	1,346	$577,466	$429,024
Commercial & Industrial, US addressed loans - <$1MM	6,135	$444,215	$72,407
Commercial & Industrial, US addressed loans - <$100k	4,223	$101,088	$23,937
Commercial & Industrial, US addressed loans - $100-250k	944	$84,462	$89,472
Commercial & Industrial, US addressed loans - $250k-1MM	968	$258,665	$267,216
Farmland loans - <$1MM	29	$4,902	$169,034
Farmland loans - <$100k	7	$231	$33,000
Farmland loans - $100-250k	10	$1,182	$118,200
Farmland loans - $250k-1MM	12	$3,489	$290,750
Agriculture operations loans - <$1MM	2	$4	$2,000
Agriculture operations loans - <$100k	1	$4	$4,000
Agriculture operations loans - $100-250k	1	$0	$0