TowneBank Management

Management criteria checks 4/4

TowneBank's CEO is Bill Foster, appointed in Dec 2022, has a tenure of 1.33 years. total yearly compensation is $1.65M, comprised of 36.5% salary and 63.5% bonuses, including company stock and options. directly owns 0.053% of the company’s shares, worth €988.41K. The average tenure of the management team and the board of directors is 6.1 years and 20.1 years respectively.

Key information

Bill Foster

Chief executive officer

US$1.7m

Total compensation

CEO salary percentage	36.5%
CEO tenure	1.3yrs
CEO ownership	0.05%
Management average tenure	6.1yrs
Board average tenure	20.1yrs

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
Mar 31 2024	n/a	n/a	US$150m
Dec 31 2023	n/a	n/a	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 ($USD1.65M) is about average for companies of similar size in the German market ($USD1.62M).

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

CEO

Bill Foster (67 yo)

1.3yrs

Tenure

US$1,654,330

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	26.3yrs	US$1.54m	0.56% $ 10.4m
William Foster	CEO, President & Director	1.3yrs	US$1.65m	0.053% $ 988.4k
William Littreal	Senior EVP & CFO	6.1yrs	US$2.13m	0.091% $ 1.7m
William Morrison	President & CEO of TowneBank Financial Services Group and Director	no data	US$533.29k	0.21% $ 3.9m
R. Clark	Senior Executive VP & COO	1.3yrs	no data	0.018% $ 342.7k
Kevin Fly	Senior EVP & Chief Accounting Officer	5.9yrs	no data	0.0073% $ 135.4k
Denys Diaz	Senior EVP & Chief Information Officer	7.8yrs	no data	0.0094% $ 174.2k
George Whitley	Senior EVP & Chief Legal Officer	7.5yrs	no data	0.027% $ 506.2k
Scott Williams	Executive VP and Director of Marketing & Member Experience	5.3yrs	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
Philip Rudisill	Senior EVP & Chief Credit Officer	12.8yrs	no data	0.044% $ 824.9k

6.1yrs

Average Tenure

57yo

Average Age

Experienced Management: 3T8's management team is seasoned and experienced (6.1 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
G. Aston	Executive Chairman	26.3yrs	US$1.54m	0.56% $ 10.4m
William Foster	CEO, President & Director	18.9yrs	US$1.65m	0.053% $ 988.4k
William Morrison	President & CEO of TowneBank Financial Services Group and Director	7.8yrs	US$533.29k	0.21% $ 3.9m
Gordon Gentry	Chairman of TowneBank Peninsula	no data	US$53.21k	no data
Alan Witt	Independent Director	20.1yrs	US$79.83k	0.13% $ 2.4m
Jeffrey Benson	Independent Vice Chairman of the Board	7.8yrs	US$75.30k	0.16% $ 3.0m
Richard Thurmond	Independent Director	23.5yrs	US$53.30k	0.12% $ 2.1m
Juan Montero	Independent Director	25.3yrs	US$65.90k	0.027% $ 506.4k
William Lewis	Independent Director	25.3yrs	US$71.15k	0.26% $ 4.7m
John Failes	Independent Vice Chairman of the Board	25.3yrs	US$79.65k	0.11% $ 2.0m
Richard Bray	Independent Lead Director	17.9yrs	US$106.70k	0.11% $ 2.1m
Elizabeth Robertson	Independent Director	8.8yrs	US$95.30k	0.082% $ 1.5m

20.1yrs

Average Tenure

74yo

Average Age

Experienced Board: 3T8's board of directors are seasoned and experienced ( 20.1 years average tenure).

TowneBank Management

Management criteria checks 4/4

Key information

Recent management updates

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

TowneBank, Annual General Meeting, May 22, 2024

TowneBank Appoints Sachin Shetty to the Board of Directors

Insider recently sold €271k worth of stock

Insider recently sold €263k worth of stock

Recent updates

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

Independent Director recently bought €470k worth of stock

Independent Director recently bought €949k worth of stock

First quarter 2022 earnings released: EPS: US$0.63 (vs US$0.95 in 1Q 2021)

Townebank Announces Retirement of Directors

Upcoming dividend of US$0.20 per share

CEO & Director recently sold €288k worth of stock

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Townebank Announces Quarterly Cash Dividend, Payable on April 8, 2022

Senior EVP recently sold €51k worth of stock

TowneBank(NasdaqGS:TOWN) dropped from OMX Nordic Small Cap Index

TowneBank Announces J. Morgan Davis to Retire as Chief Executive Officer

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

TowneBank, Annual General Meeting, May 25, 2022

Upcoming dividend of US$0.20 per share

CEO & Director recently sold €1.2m worth of stock

Third quarter 2021 earnings released: EPS US$0.70 (vs US$0.48 in 3Q 2020)