![Towne Bank Logo](https://ik.imagekit.io/kkbzr2uz4cp/stock/nasdaq/town.png?tr=w-200)
Towne Bank
NASDAQ:TOWN
![Towne Bank Logo](https://ik.imagekit.io/kkbzr2uz4cp/stock/nasdaq/town.png)
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Towne Bank
Interest Expense
Towne Bank
Interest Expense Peer Comparison
Competitors Analysis
Latest Figures & CAGR of Competitors
Company | Interest Expense | CAGR 3Y | CAGR 5Y | CAGR 10Y | ||
---|---|---|---|---|---|---|
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Towne Bank
NASDAQ:TOWN
|
Interest Expense
$330.3m
|
CAGR 3-Years
90%
|
CAGR 5-Years
25%
|
CAGR 10-Years
29%
|
|
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PNC Financial Services Group Inc
NYSE:PNC
|
Interest Expense
$13B
|
CAGR 3-Years
191%
|
CAGR 5-Years
27%
|
CAGR 10-Years
31%
|
|
![]() |
M&T Bank Corp
NYSE:MTB
|
Interest Expense
$4.2B
|
CAGR 3-Years
212%
|
CAGR 5-Years
42%
|
CAGR 10-Years
31%
|
|
![]() |
Truist Financial Corp
NYSE:TFC
|
Interest Expense
$11.1B
|
CAGR 3-Years
136%
|
CAGR 5-Years
42%
|
CAGR 10-Years
30%
|
|
![]() |
Fifth Third Bancorp
NASDAQ:FITB
|
Interest Expense
$4.9B
|
CAGR 3-Years
118%
|
CAGR 5-Years
28%
|
CAGR 10-Years
28%
|
|
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First Citizens BancShares Inc (Delaware)
NASDAQ:FCNCA
|
Interest Expense
$5.1B
|
CAGR 3-Years
331%
|
CAGR 5-Years
131%
|
CAGR 10-Years
60%
|
Towne Bank
Glance View
Towne Bank, founded in 1998 in the heart of Hampton Roads, Virginia, is a testament to community-focused banking. It was established by a group of local business leaders driven by the vision of nurturing personal relationships within the banking space. Headquartered in Suffolk, Virginia, the bank’s operations span across the Mid-Atlantic region, catering primarily to individuals and small to mid-sized businesses. Towne Bank functions by offering a comprehensive suite of financial products, including personal and commercial banking services, insurance, real estate, and wealth management. Their operating model thrives on localized decision-making and community engagement, aiming to foster a sense of belonging and trust among its members—customers whom they refer to much like family. The bank makes its money through interest income, which comes from loans provided to individuals and businesses. By maintaining a low-cost deposit base and offering competitive loan rates, Towne Bank positions itself as a reliable financial partner. Additionally, the bank diversifies its revenue streams through fee-based services in insurance and asset management, areas that often benefit from economies of scale. This approach not only creates a buffer against interest rate fluctuations but also enhances its resilience in varied economic climates. By integrating traditional banking with broader financial services, Towne Bank leverages its regional knowledge and personal touch to sustain profitability while emphasizing community reinvestment and support—continuing its mission of promoting accessible financial solutions with a distinctly local flair.
![](https://ik.imagekit.io/kkbzr2uz4cp/stock/nasdaq/town.png?tr=w-200)
See Also
What is Towne Bank's Interest Expense?
Interest Expense
330.3m
USD
Based on the financial report for Sep 30, 2024, Towne Bank's Interest Expense amounts to 330.3m USD.
What is Towne Bank's Interest Expense growth rate?
Interest Expense CAGR 10Y
29%
Over the last year, the Interest Expense growth was 70%. The average annual Interest Expense growth rates for Towne Bank have been 90% over the past three years , 25% over the past five years , and 29% over the past ten years .