TowneBank FY26 Q2 net income more than quadruples to $193.19 million; revenue rises 111.46% to $444.27 million - TOWN News | RalliesTowneBank FY26 Q2 net income more than quadruples to $193.19 million; revenue rises 111.46% to $444.27 million
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TOWN• TowneBank reports sharply higher quarterly profit and revenue
- TowneBank posted Q2 net income of $193.19 million, or $2.09 a share, up from $40.89 million, or $0.54 a share, a year earlier.
- Revenue more than doubled to $444.27 million, as noninterest income rose to $259.15 million on a $198.55 million gain from selling Towne Vacations.
- Net interest income climbed 34.91% to $185.12 million; net interest margin widened 30 basis points to 3.68%.
- Deposits increased 1.26% from the prior quarter to $18.71 billion, with noninterest-bearing balances up 4.39% to $5.84 billion.
- Management highlighted early momentum in the Carolinas, adding 24 experienced hires since the start of the year, including four market executives.
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