TowneBank FY26 Q2 net income more than quadruples to $193.19 million; revenue rises 111.46% to $444.27 million

Reuters2026/07/23 01:19

By:Reuters

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TowneBank posted Q2 net income of $193.19 million, or $2.09 a share, up from $40.89 million, or $0.54 a share, a year earlier.
Revenue more than doubled to $444.27 million, as noninterest income rose to $259.15 million on a $198.55 million gain from selling Towne Vacations.
Net interest income climbed 34.91% to $185.12 million; net interest margin widened 30 basis points to 3.68%.
Deposits increased 1.26% from the prior quarter to $18.71 billion, with noninterest-bearing balances up 4.39% to $5.84 billion.
Management highlighted early momentum in the Carolinas, adding 24 experienced hires since the start of the year, including four market executives.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. TowneBank published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202607222118PRIMZONEFULLFEED9766847) on July 23, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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TowneBank FY26 Q2 net income more than quadruples to $193.19 million; revenue rises 111.46% to $444.27 million

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