TowneBank (TOWN)

TowneBank Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	644.58	627.24	573.13	439.87	408.55	424.5
Interest Income on Investments	145.35	147.29	132.12	78.07	34.9	35.66
Total Interest Income	789.92	774.53	705.24	517.94	443.45	460.16
Interest Paid on Deposits	293.3	318.42	219.98	40.82	27.11	57.86
Interest Paid on Borrowings	8.59	13.5	27.49	15.76	13.98	22.15
Total Interest Expense	301.89	331.92	247.46	56.57	41.08	80.02
Net Interest Income	488.03	442.61	457.78	461.37	402.37	380.14
Net Interest Income Growth (YoY)	12.69%	-3.31%	-0.78%	14.66%	5.85%	6.08%
Mortgage Banking Activities	46.98	46.96	39.42	47.15	109.3	112.17
Gain (Loss) on Sale of Investments	2.24	0.31	9.38	-	1.22	27.26
Gain (Loss) on Sale of Equity Investments	1.24	1.24	-0.97	0.56	1.33	2.1
Other Non-Interest Income	192.49	183.27	170.18	161.07	150.48	129.47
Total Non-Interest Income	263.13	251.15	236.34	225.57	277.96	284.19
Non-Interest Income Growth (YoY)	10.83%	6.26%	4.78%	-18.85%	-2.19%	38.23%
Revenues Before Loan Losses	751.16	693.75	694.12	686.94	680.33	664.34
Provision for Loan Losses	9.34	-0.55	18.68	8.61	-16.77	67.18
Revenue	741.83	694.3	675.44	678.33	697.1	597.16
Revenue Growth (YoY)	11.04%	2.79%	-0.43%	-2.69%	16.74%	7.68%
Salaries and Employee Benefits	291.27	281.38	263.14	250.41	240.21	230.2
Amortization of Goodwill & Intangibles	13.23	12.77	14.16	10.62	11.13	11.5
Selling, General & Administrative	138.03	139.39	128.46	113.82	105.21	97.23
Other Non-Interest Expense	73.07	69.04	73.88	65.37	59.71	56.97
Total Non-Interest Expense	515.66	502.57	479.63	440.21	416.25	395.89
EBT Excluding Unusual Items	226.17	191.72	195.82	238.12	280.85	201.27
Pretax Income	206.29	190.38	186.22	237.05	279.83	201.33
Income Tax Expense	31.56	27.65	31.09	46.58	54.8	31.9
Earnings From Continuing Operations	174.72	162.73	155.14	190.47	225.03	169.43
Minority Interest in Earnings	-1.08	-0.98	-1.42	-1.48	-9.65	-23.9
Net Income	173.64	161.76	153.72	188.99	215.38	145.54
Net Income to Common	173.64	161.76	153.72	188.99	215.38	145.54
Net Income Growth	14.84%	5.23%	-18.66%	-12.26%	47.99%	4.87%
Basic Shares Outstanding	75	75	75	73	72	72
Diluted Shares Outstanding	75	75	75	73	73	72
Shares Change (YoY)	0.72%	0.67%	2.87%	0.02%	0.30%	0.22%
EPS (Basic)	2.31	2.16	2.06	2.60	2.97	2.01
EPS (Diluted)	2.30	2.15	2.06	2.60	2.97	2.01
EPS Growth	14.10%	4.41%	-20.80%	-12.46%	47.76%	4.69%
Dividend Per Share	1.020	1.000	0.980	0.890	0.780	0.720
Dividend Growth	2.00%	2.04%	10.11%	14.10%	8.33%	2.86%
Effective Tax Rate	15.30%	14.52%	16.69%	19.65%	19.58%	15.84%

Updated May 7, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.