TowneBank Management

Management criteria checks 4/4

TowneBank's CEO is Bill Foster, appointed in Dec 2022, has a tenure of 1.92 years. total yearly compensation is $1.46M, comprised of 61.5% salary and 38.5% bonuses, including company stock and options. directly owns 0.065% of the company’s shares, worth €1.69M. The average tenure of the management team and the board of directors is 6.5 years and 20.7 years respectively.

Key information

Bill Foster

Chief executive officer

US$1.5m

Total compensation

CEO salary percentage	61.5%
CEO tenure	1.9yrs
CEO ownership	0.07%
Management average tenure	6.5yrs
Board average tenure	20.7yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Bill Foster's remuneration changed compared to TowneBank's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	US$149m
Jun 30 2024	n/a	n/a	US$151m
Mar 31 2024	n/a	n/a	US$150m
Dec 31 2023	US$1m	US$900k	US$154m
Sep 30 2023	n/a	n/a	US$172m
Jun 30 2023	n/a	n/a	US$177m
Mar 31 2023	n/a	n/a	US$182m
Dec 31 2022	US$2m	US$603k	US$189m
Sep 30 2022	n/a	n/a	US$182m
Jun 30 2022	n/a	n/a	US$183m
Mar 31 2022	n/a	n/a	US$192m
Dec 31 2021	US$2m	US$451k	US$215m
Sep 30 2021	n/a	n/a	US$225m
Jun 30 2021	n/a	n/a	US$209m
Mar 31 2021	n/a	n/a	US$188m
Dec 31 2020	US$1m	US$440k	US$146m
Sep 30 2020	n/a	n/a	US$131m
Jun 30 2020	n/a	n/a	US$134m
Mar 31 2020	n/a	n/a	US$134m
Dec 31 2019	US$2m	n/a	US$139m

Compensation vs Market: Bill's total compensation ($USD1.46M) is about average for companies of similar size in the German market ($USD1.92M).

Compensation vs Earnings: Bill's compensation has been consistent with company performance over the past year.

CEO

Bill Foster (68 yo)

1.9yrs

Tenure

US$1,464,533

Compensation

Mr. William I. Foster, III, also known as Bill, serves as Chief Executive Officer and President of TowneBank since December 31 2022. He is President of Central Virginia & the Carolinas at TowneBank since S...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
G. Aston	Executive Chairman	26.8yrs	US$1.65m	0.57% € 14.8m
William Foster	CEO, President & Director	1.9yrs	US$1.46m	0.065% € 1.7m
William Littreal	Senior EVP & CFO	6.7yrs	US$1.10m	0.087% € 2.3m
Brian Skinner	President & Regional Banking Director for Virginia and Northeastern North Carolina	6.1yrs	US$851.49k	0.073% € 1.9m
William Morrison	President & CEO of TowneBank Financial Services Group and Director	no data	US$1.41m	0.22% € 5.8m
R. Clark	Senior Executive VP & COO	1.8yrs	no data	0.027% € 688.9k
Kevin Fly	Senior EVP & Chief Accounting Officer	6.5yrs	no data	0.0074% € 191.0k
Denys Diaz	Senior EVP & Chief Information Officer	8.4yrs	no data	0.018% € 476.7k
George Whitley	Senior EVP & Chief Legal Officer	8.1yrs	no data	0.027% € 706.1k
Scott Williams	Executive VP and Director of Marketing & Member Experience	5.8yrs	no data	no data
James Bradner	Executive Vice President of Towneinsurance	no data	no data	no data
C. Morgan	President of Portsmouth & Real Estate Finance Group	no data	no data	no data

6.5yrs

Average Tenure

58yo

Average Age

Experienced Management: 3T8's management team is seasoned and experienced (6.5 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
G. Aston	Executive Chairman	26.8yrs	US$1.65m	0.57% € 14.8m
William Foster	CEO, President & Director	19.5yrs	US$1.46m	0.065% € 1.7m
William Morrison	President & CEO of TowneBank Financial Services Group and Director	8.4yrs	US$1.41m	0.22% € 5.8m
William Hodsden	Advisor & Director Emeritus	no data	no data	no data
William Copeland	Advisor & Director Emeritus	no data	US$158.02k	no data
Gordon Gentry	Chairman of TowneBank Peninsula	no data	US$53.21k	no data
Alan Witt	Independent Director	20.7yrs	US$114.86k	0.13% € 3.3m
Jeffrey Benson	Independent Vice Chairman of the Board	8.4yrs	US$101.19k	0.16% € 4.2m
Richard Thurmond	Independent Director	24.1yrs	US$85.61k	0.12% € 3.0m
Juan Montero	Independent Director	25.8yrs	US$93.61k	0.026% € 665.6k
William Lewis	Independent Director	25.8yrs	US$101.21k	0.24% € 6.2m
Elizabeth Robertson	Independent Director	9.4yrs	US$119.44k	0.082% € 2.1m

20.7yrs

Average Tenure

73.5yo

Average Age

Experienced Board: 3T8's board of directors are seasoned and experienced ( 20.7 years average tenure).

TowneBank Management

Management criteria checks 4/4

Key information

Recent management updates

Insider recently sold €396k worth of stock

Insider recently sold €281k worth of stock

Insider recently sold €217k worth of stock

Insider recently sold €217k worth of stock

Townebank Announces Retirement of Jacqueline B. Amato and Bradford L. Cherry as Members of Board of Directors

Independent Director recently sold €415k worth of stock

Recent updates

TowneBank Declares Fourth-Quarter Cash Dividend, Payable on January 14, 2025

Insider recently sold €396k worth of stock

TowneBank Reports Net Charge Off for the Third Quarter Ended September 30, 2024

Third quarter 2024 earnings released: EPS: US$0.57 (vs US$0.60 in 3Q 2023)

TowneBank (NasdaqGS:TOWN) signed a definitive agreement and plan of reorganization to acquire Village Bank and Trust Financial Corp. (NasdaqCM:VBFC) for approximately $120 million.

TowneBank (NasdaqGS:TOWN) signed a definitive agreement and plan of reorganization to acquire Village Bank and Trust Financial Corp. (NasdaqCM:VBFC) for approximately $120 million.

Upcoming dividend of US$0.25 per share

Second quarter dividend of US$0.25 announced

Townebank Announces Quarterly Cash Dividend, Payable on October 11, 2024

Insider recently sold €281k worth of stock

Second quarter 2024 earnings released: EPS: US$0.57 (vs US$0.56 in 2Q 2023)

New minor risk - Insider selling

First quarter dividend of US$0.25 announced

TowneBank Announces Second-Quarter Cash Dividend, Payable on July 12, 2024

Insider recently sold €217k worth of stock

Insider recently sold €217k worth of stock

First quarter 2024 earnings released: EPS: US$0.46 (vs US$0.52 in 1Q 2023)

Townebank Announces Retirement of Jacqueline B. Amato and Bradford L. Cherry as Members of Board of Directors

Upcoming dividend of US$0.25 per share

Independent Director recently sold €415k worth of stock

TowneBank, Annual General Meeting, May 22, 2024

TowneBank Appoints Sachin Shetty to the Board of Directors

Fourth quarter dividend of US$0.25 announced

Full year 2023 earnings released: EPS: US$2.06 (vs US$2.61 in FY 2022)

TowneBank Declares First-Quarter Cash Dividend, Payable on April 12, 2024

Full year 2023 earnings released: EPS: US$2.06 (vs US$2.61 in FY 2022)

Now 21% undervalued

Now 21% undervalued

Upcoming dividend of US$0.25 per share at 3.3% yield

Insider recently sold €271k worth of stock

TowneBank Announces Quarterly Cash Dividend, Payable on January 12, 2024

New minor risk - Insider selling

Insider recently sold €263k worth of stock

TowneBank to Report Q3, 2023 Results on Oct 26, 2023

TowneBank to Report Q3, 2023 Results on Oct 26, 2023

Third quarter 2023 earnings released: EPS: US$0.60 (vs US$0.69 in 3Q 2022)

Upcoming dividend of US$0.25 per share at 4.3% yield

TowneBank Declares Cash Dividend for the Third-Quarter, Payable on October 13, 2023

Second quarter 2023 earnings released: EPS: US$0.56 (vs US$0.64 in 2Q 2022)

Upcoming dividend of US$0.25 per share at 4.1% yield

TowneBank Appoints Ernest Piccioli as Chief Risk Officer

Insider recently bought €81k worth of stock

TowneBank Declares Second-Quarter Shareholder Cash Dividend, Payable on July 14, 2023

Independent Director recently bought €118k worth of stock

Upcoming dividend of US$0.23 per share at 3.3% yield

Insider recently bought €58k worth of stock

Insider recently sold €444k worth of stock

Senior EVP recently sold €52k worth of stock

Senior EVP recently sold €52k worth of stock

Full year 2022 earnings released: EPS: US$2.60 (vs US$2.97 in FY 2021)

Townebank Names Clark as Chief Operating Officer

Upcoming dividend of US$0.23 per share

TowneBank Announces Quarterly Cash Dividend, Payable on January 12, 2023

TowneBank Announces Chief Executive Officer Changes

Insider recently sold €255k worth of stock

Independent Director recently bought €279k worth of stock

Independent Director recently bought €279k worth of stock

Third quarter 2022 earnings released: EPS: US$0.69 (vs US$0.69 in 3Q 2021)

TowneBank Announces Executive Changes

TowneBank Appoints Dawn S. Glynn as Leader of the Bank’s New Corporate Services Group. as Chief Experience Officer

Upcoming dividend of US$0.23 per share

Chief Information Officer recently sold €89k worth of stock

TowneBank Announces Executive Changes

TowneBank Announces Quarterly Cash Dividend, Payable on October 14, 2022

TowneBank (NasdaqGS:TOWN) signed a definitive agreement to acquire Farmers Bankshares, Inc. (OTCPK:FBVA) for $59.4 million.

Second quarter 2022 earnings released: EPS: US$0.64 (vs US$0.77 in 2Q 2021)

Townebank Appoints Ted Wolfe to President of Townebank Charlotte

Upcoming dividend of US$0.23 per share

TowneBank Announces Quarterly Cash Dividend, Payable on July 12, 2022