TowneBank Second-Quarter Profit Surges on Resort Property Sale Gain

Earnings
โดย GlobeNewswire·Read original
Summary · why it matters

TowneBank reported second-quarter 2026 net income of $193.19 million, or $2.09 per diluted share, driven by a nearly $200 million gain on the sale of its Resort Property Management segment. Excluding that gain and other items, core earnings were $72.01 million, or $0.78 per diluted share, compared with $63.39 million, or $0.84 per diluted share, a year earlier. Total revenue jumped 111.46% to $444.27 million, while net interest income rose to $185.12 million as loan volumes and yields improved and deposit costs fell 25 basis points. The company also paid a special dividend of $0.70 per share, representing about 32% of the pre-tax gain, and made a $25 million charitable foundation contribution. Total deposits grew to $18.71 billion, and the net interest margin widened to 3.68% from 3.38% a year ago.

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Towne Bank
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Core earnings beat and special dividend announced, driven by property sale gain.

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