In 1999, a small group of bankers, business leaders, and friends gathered around a kitchen table in Hampton Roads with a vision: to create a bank that put people first. With a focus on relationships, community service, and trust, TowneBank was born; not as just another financial institution, but as a “Main Street Bank” rooted in caring for neighbors and enriching lives.
That small start has blossomed into one of Virginia’s largest financial institutions, and now, a rapidly expanding force across the Southeast. With the recent completion of its merger with Old Point Financial Corporation and the newly announced agreement to acquire Dogwood State Bank, TowneBank is writing its next chapter as a multi-billion-dollar financial institution serving Virginia, North Carolina, and South Carolina.
Along the way, Towne has kept its community-first culture intact, blending local decision-making with the resources of a top-tier regional bank.
On September 1, 2025, Towne completed its merger with Old Point Financial Corporation, a historic Hampton Roads institution. The partnership preserves Old Point’s legacy while strengthening Towne’s position in the Peninsula and beyond.
Just weeks earlier, Towne announced another milestone: a definitive agreement to acquire Dogwood State Bank, headquartered in Raleigh, North Carolina. The move dramatically expands Towne’s presence along the booming I-85 corridor, from Richmond to Charlotte and Greenville, while also adding coastal markets from the Outer Banks to Charleston. When combined with Old Point, the bank’s assets will total roughly $22 billion, placing it among the strongest community-focused banks in the Southeast.
Together, these strategic steps extend Towne’s reach while deepening its culture of service. Steve Jones, CEO of Dogwood, will join Towne as President of North and South Carolina operations, ensuring continuity and local leadership in newly added markets.
Even as it grows, TowneBank continues to emphasize its founding values. By welcoming the Dogwood and Old Point families into its fold, Towne not only expands its footprint but also reinforces its commitment to community banking built on relationships.
From that first kitchen table conversation in 1999, to a single office in Portsmouth, to a network of more than 55 offices across three states, TowneBank’s journey reflects what’s possible when humble beginnings are matched with vision, integrity, and a steadfast dedication to people.
And with its latest chapter unfolding, Towne’s story is only just beginning.
