Press Release

TowneBank Expands Its Corporate Management Group

Company Release - 10/25/2018 8:30 AM ET

SUFFOLK, Va., Oct. 25, 2018 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ:TOWN) announced today the expansion of its Corporate Management Group with the addition of three new strategic leadership positions. On January 1, 2019, in addition to current members G. Robert Aston, Jr., Executive Chairman, J. Morgan Davis, President and CEO, William B. Littreal, CFO, and Brad E. Schwartz, COO, these three leaders will be added:

Brian K. Skinner - Chief Banking Officer. Skinner joined the Towne family in 2007 and has served as Regional Executive Officer of Peninsula/Williamsburg. With 28 years of banking experience, he brings an extensive background of banking knowledge to his new role. While maintaining our core values, he will be responsible for the leadership and development of all community banking strategies. Skinner will also work with the CEO to further the growth and integration of all the controlled divisions and subsidiaries within the Towne Financial Services Group.

Dawn S. Glynn – President, Retail and Private Banking. Glynn is a founding member of Towne who has previously served as Director of Private Banking and most recently as Regional Executive Officer for Portsmouth/ Chesapeake/Suffolk. In this newly created position, she will be responsible for the leadership and development of the Towne private and retail banking network focusing on pursuing deposit gathering activities, including treasury, merchant services, and director engagement. She will also be responsible for the design, implementation and administration of Towne’s sales incentive plans.

William I. Foster – President, Commercial and Real Estate Banking. Foster joined the Towne family in 2004 and has over 33 years of leadership experience in the banking industry. He will be responsible for leading and developing the commercial and real estate teams in pursuit of quality loan growth across the Towne footprint in Virginia and North Carolina. He will also lead our market presidents’ focus on lending and relationship development.

“Our Towne family is blessed with the extraordinary level of talent throughout the organization. With these additions, our long-term Management Succession Plan can continue to evolve over the next few years. I look forward to working with this expanded management team in shaping a bright future for Towne,” stated Mr. Aston.

About TowneBank:

As one of the top community banks in Virginia and North Carolina, TowneBank operates 40 banking offices serving Chesapeake, Chesterfield County, Glen Allen, Hampton, James City County, Mechanicsville, Newport News, Norfolk, Portsmouth, Richmond, Suffolk, Virginia Beach, Williamsburg, and York County in Virginia, along with Raleigh, Cary, Charlotte, Moyock, Grandy, Camden County, Southern Shores, Corolla and Nags Head in North Carolina. Towne also offers a full range of financial services through its controlled divisions and subsidiaries that include Towne Investment Group, Towne Wealth Management, Towne Insurance Agency, Towne Benefits, TowneBank Mortgage, TowneBank Commercial Mortgage, Berkshire Hathaway HomeServices Towne Realty, Towne 1031 Exchange, LLC, and Towne Vacations. Local decision-making is a hallmark of its hometown banking strategy that is delivered through the leadership of each group’s President and Board of Directors.

With total assets of $11.12 billion as of September 30, 2018, TowneBank is one of the largest banks headquartered in Virginia.

For more information contact:
G. Robert Aston, Jr., Executive Chairman, 757-638-6780
J. Morgan Davis, President and Chief Executive Officer, 757-673-1673
Sara Jo Rubin, Rubin Communications Group, 757-456-5212

Investor contact:
William B. Littreal, Chief Financial Officer, 757-638-6813

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Source: TowneBank