Towne Bank 2026年四季度报告

FOR IMMEDIATE RELEASE TOWNEBANK REPORTS FULL YEAR AND FOURTH QUARTERFINANCIAL RESULTS FOR 2025 Suffolk, VA.,January 28, 2026 - TowneBank (the "Company" or "Towne") (Nasdaq: TOWN) todayreported financial results for the full year and fourth quarter ended December 31, 2025. For the year endedDecember 31, 2025, earnings were $169.53 million, or 2.21 per diluted share, compared to$161.36 million, or 2.15 per diluted share, for the year ended December 31, 2024. Excluding certain itemsaffecting comparability, core earnings (non-GAAP) for 2025 were $231.55 million, or $3.02 per dilutedshare, compared to $163.24 million, or $2.17 per diluted share, for 2024. Earnings in the fourth quarter of2025 were $40.63 million, or 0.51 per diluted share, compared to fourth quarter 2024 earnings of$39.97 million, or 0.53 per diluted share. Excluding certain items affecting comparability, core earnings(non-GAAP) for fourth quarter 2025 were $55.29 million, or $0.70 per diluted share, compared to$40.12 million, or $0.53 per diluted share, for fourth quarter 2024. "We are pleased to announce record 2025 core earnings of $3.02 per share, which excludes the impacts ofone-time expenses related to merger activity. This year marks a significant period of transformation for ourcompany as we strengthened our presence in Hampton Roads, completed our expansion in the Richmondmarkets, and advanced our growing footprint in the Carolinas. We are firmly committed to strong creditperformance, robust liquidity and healthy capital levels. As we look ahead to 2026, I want to extend mysincere appreciation to our nearly 3,000 dedicated teammates. Your leadership and commitment to ourmission ofServing Others and Enriching Livesmake achievements like these possible," said G. RobertAston, Jr., Executive Chairman. Annual Highlights for 2025 Compared to 2024: •Total revenues increased to $835.72 million, compared to $693.29 million in the prior year. Netinterest income increased $121.00 million due to a combination of volume driven increases ininterest income and rate driven decreases in interest expense. Additionally, noninterest incomeincreased $21.43 million compared to prior year. •Completed acquisitions of Old Point Financial Corporation ("Old Point") and Village Bank andTrust Financial Corp. ("Village") added a total of $1.53 billion in loans, $283.14 million insecurities, and $1.85 billion in deposits, $0.54 billion of which was noninterest-bearing.•Loans held for investment increased $1.88 billion, or 16.38%, from December 31, 2024.•Total deposits were $16.51 billion, an increase of $2.07 billion, or 14.35%, compared to prior year.•Noninterest-bearing deposits increased 19.28% to $5.07 billion and represented 30.73% of totaldeposits at December 31, 2025.•Return on average common shareholders' equity was 7.53%, and return on average tangiblecommon shareholders' equity (non-GAAP) was 11.06%.•Net interest margin was 3.40% and taxable equivalent net interest margin (non-GAAP) was 3.42%compared to a prior year net interest margin of 2.87% and taxable equivalent net interest margin(non-GAAP) of 2.90%.•Effective tax rate of 18.87% compared to 14.58% in 2024. The increase in the effective rate in thecurrent year was primarily due to a decreased benefit from tax losses and credits related to LIHTCinvestment properties, an increase in state tax expense and nondeductible expenses related toacquisitions. Highlights for Fourth Quarter 2025: •Total revenues were $219.94 million in fourth quarter 2025, an increase of $44.40 million, or25.29%, from the prior year quarter. This increase was attributable to a combination of increasedloan volume, margin expansion, and income from acquisitions, including a full quarter ofcontribution from the Old Point transaction. Net interest income increased $40.91 million, or34.65%, driven by increases in loan interest income slightly offset by decreases in deposit costsbetween quarters. Noninterest income increased $3.49 million, or 6.07%, compared to the prioryear quarter.•Loans held for investment decreased $43.23 million, or 0.32%, from September 30, 2025.•Total deposits decreased $21.82 million, or 0.13%, compared to September 30, 2025.•Noninterest-bearing deposits decreased $66.33 million, or 5.12% on an annualized basis, comparedto the linked quarter.•In the quarter ended December 31, 2025, annualized return on average common shareholders'equity was 6.69% and annualized return on average tangible common shareholders' equity (non-GAAP) was 10.36%. •Net interest margin was 3.56% and taxable equivalent net interest margin (non-GAAP) was 3.58%compared to the prior year quarter net interest margin of 2.99% and taxable equivalent net interestmargin (non-GAAP) of 3.02%.•Effective tax rate of 23.72% compared to 13.86% in fourth quarter 2024 and 16.82% in the linkedquarter. The increase in the effective tax rate from fourth quarter 2024 to 2025 was primarily due toa decreased benefit from tax loss and credits related to L