Banking on You Featuring TowneBank

It started with a big dream and a small garage

Many of the world's most successful companies have origin stories rooted in humble beginnings. Virginia based, TowneBank (NASDAQ: TOWN) is no exception. It all started with a vision to assemble the very best banking talent in the Hampton Roads, VA market to create a community bank, relentlessly focused on serving its members’ unique needs. In 1999, Bob Aston Jr. set up shop in the 2-car garage of his Portsmouth, VA home. It was there that the original founders created the vision that would become TowneBank. 25 years later, TowneBank operates 51 banking offices throughout Hampton Roads, Central Virginia, and Northeastern and Central North Carolina – backed by more than $17 billion in assets and over 2,400 employees. While Towne continues to grow, it remains steadfast in its commitment to delivering the very best in member service. 

"We are proud to be a Main Street bank where our greatest reward is enhancing the lives of our community to help make dreams come true." – Bob Aston Jr.

Beyond Banking: Hampton University & Bon Secours Harbour View Hospital

“A shared commitment to the well-being of the community”.

A community bank forms an unwritten agreement with the communities it serves, embracing a commitment that extends beyond banking. Towne has taken this commitment seriously, with the bank contributing $12 million in grants and sponsorships in 2023, and $114 million since its founding in 1999. 

In April 2023, TowneBank made a historic $1 million contribution to Hampton University, marking its largest gift to an HBCU. This donation aims to strengthen the partnership with the university through new initiatives in the Department of Athletics and Office of Career Services. TowneBank has actively participated in career fairs at Hampton University and collaborates with the Office of Career Services to promote professional development opportunities, including internships and the LEAD program. The bank also hosted an alumni panel featuring Hampton graduates who have built careers at TowneBank.

In January 2024, TowneBank announced a $500,000 donation to Bon Secours Hampton Roads, supporting the construction of the Bon Secours Harbour View Medical Center in Suffolk, Virginia. This significant contribution from TowneBank serves as a cornerstone for the success of this ambitious project, supporting the vision of accessible and advanced healthcare for the community. The collaboration between Bon Secours and TowneBank reflects a shared commitment to the well-being of the region. TowneBank applauded the healthcare organization for seeing and acting on the need to bring a surgically focused hospital to the Harbour View community of Suffolk. A project of this magnitude that provides state-of-the-art medical care benefits everyone – from the lives it saves, to the talent it draws, to the increased economic activity it creates in the community.

TowneBank understands that true community involvement extends beyond financial contributions; it encompasses a commitment of time and energy as well. Recognizing this, the bank’s team devotes thousands of volunteer hours each year to serve on boards and commissions and to perform acts of service.

Serving Others, Enriching Lives in Charlotte: Sullenberger Aviation Museum

Sullenberger Aviation Museum, previously known as Carolina Aviation Museum, was founded in 1992 by aviation enthusiast Floyd Wilson. Alongside his wife, Floyd worked closely with the Charlotte Douglas International Airport to rescue and restore aircraft that were in danger of deteriorating. In 2011, the museum acquired the “Miracle on the Hudson,” an Airbus A320-2145 piloted by Captain C.B. “Sully” Sullenberger. The plane was carrying 150 passengers and five crew members in 2009 when it hit a flock of migrating geese causing both engines to shut down. In a story that captured the nation’s attention, Captain Sully made an emergency landing in the Hudson River, keeping all passengers and crew safe. “The historic flight still draws interest today,” says Stephen Saucier, museum president. “We not only celebrate the heroism displayed, but also use it as an opportunity to solidify our role as stewards of this important story in aviation history while also leveraging it to attract and inspire the next generation of aviation innovators.” 

For the passengers aboard that flight bound for Charlotte, the events of that fateful day knitted together a new community. Many who live in the area have remained close and were invited to a special ceremony for the museum’s reopening in June 2024, where Capt. Sullenberger proposed a toast “to our stories, to flight 1549 and our families, and for the museum to inspire others for generations to come.” It is that spirit of community and inspiration that resonated with TowneBank and motivated a transformational gift to the museum’s capital campaign. Today, a classroom wall features the bank’s tagline, “Serving Others. Enriching Lives.” as it welcomes students of all ages to enjoy the museum’s STEM educational programs.

Building Homes, Building Community: Marlyn Development Corporation

Marlyn Development Corporation (MDC) believes everyone deserves to love where they live. For decades, the Virginia Beach based company has dedicated itself to creating quality housing at affordable prices throughout Virginia, North Carolina, and Maryland.

While MDC has vast experience in the construction and development of all types of multifamily housing, they find their affordable communities to be the most rewarding. The team works closely with Anne Conner, president of public finance and community investment at TowneBank, to utilize the Low-Income Housing Tax Credit program.

“The program allows us to reach those that are the most impacted by high housing costs,” says Brian Staub, president at MDC. “TowneBank has played an integral role in helping us build much needed affordable apartment homes for families and seniors.”

The partnership between MDC and TowneBank has created 1,200 units of affordable housing in Hampton Roads and Richmond, with additional projects in the pipeline. “Marlyn was our very first community investment partner,” says Anne. “Their mission to produce high-quality, accessible housing dovetails perfectly with the TowneBank goal of enriching lives in the communities we serve.”

“TowneBank is the finest regional bank that I’ve worked with,” says Dave Jester, MDC chairman and founder. “The management is connected and intelligent. They are proactive and always look for ways to make things happen.”

“We are grateful for TowneBank’s commitment to our community and the impactful investment they have made toward improving housing security for lower income households,” adds Brian.

Empowering Local Development in Virginia Beach: Gold Key PHR

For development and tourism visionary Bruce Thompson, doing business with dedicated local advisors who understood his goals and lived in the same community always made the most sense. While his projects grew in scale, his need for a trusted financial partner remained constant, and TowneBank was with him every step of the way. Bruce’s company is behind the most notable hotel developments in Hampton Roads – from The Main in Downtown Norfolk, to the Hilton Virginia Beach Oceanfront, to The Cavalier Resort in Virginia Beach featuring the Marriott Oceanfront Resort, the Embassy Suites and the iconic Historic Cavalier Hotel on the hill. It’s fair to say he’s altered the landscape and skyline in Hampton Roads. As part of his plans, Bruce and his team did their due diligence to select the best bank.

“We talked to a lot of national banks,” Bruce shared. “We talked to all the big hotel lenders but picked TowneBank as our lender. This was the difference: TowneBank came to me on the front end and said, ‘Just keep operating your business the way you've been operating your business, and we’ll take care of your financial needs and requirements.’”

That assured partnership gave Bruce and Gold Key PHR the greenlight to transform the Hampton Roads shorelines into luxury resort destinations.

Despite growing from humble beginnings to over 50 banking offices across two states, TowneBank has never lost sight of the mission that started it all. The same commitment to serving others and enriching lives that began in that Portsmouth garage continues to drive the bank forward.  From empowering local developments to enhancing education and healthcare, TowneBank’s impact goes far beyond the walls of its branches. As it continues to expand, personal touches and a culture of caring remain trademarks of the TowneBank experience. Everyone who does business with TowneBank is part of the Towne family, and benefits from the same care and dedication that built the bank from the ground up.