TOWN TowneBank

TowneBank (the “Company” or “Towne”) (Nasdaq: TOWN) is pleased to announce the selection of Dawn S. Glynn as the leader of the bank’s new Corporate Services Group. In her new role as President and Chief Experience Officer, she will have company-wide responsibility for executive oversight of human resources, marketing, private banking, retail banking, product development, and process improvement along with setting the standards for exquisite member and employee experiences.

On the importance of this new role, TowneBank Executive Chairman G. Robert Aston, Jr. shared, “Dawn understands what it means to create a warm sense of belonging, and it is that experience we seek to deliver to our members, our employees, and the community every day. As a founding officer of TowneBank, Dawn is an exceptional heart led leader who exemplifies the caring spirit of our Towne family in everything she does.”

Glynn has more than 35 years of experience in banking. She attended Old Dominion University and is a graduate of Virginia Bankers Association School of Bank Management, American Bankers Association School of Private Banking and Wealth Management, and the Stonier Graduate School of Banking. With serving others as her hallmark, Glynn is a board member with many local organizations including United Way of South Hampton Roads and its Women’s Leadership Council, Suffolk Women’s Impact, Hampton Roads Chamber of Commerce, EVMS Foundation Board of Trustees, and Hampton Roads Community Foundation.

Founded in 1999, TowneBank is a company built on relationships, offering a full range of banking and other financial services, with a focus of serving others and enriching lives. Dedicated to a culture of caring, Towne values all employees and members by embracing their diverse talents, perspectives, and experiences.

Today, TowneBank operates over 40 banking offices throughout Hampton Roads and Central Virginia, as well as Northeastern and Central North Carolina – serving as a local leader in promoting the social, cultural, and economic growth in each community. Towne offers a competitive array of business and personal banking solutions, delivered with only the highest ethical standards. Experienced local bankers providing a higher level of expertise and personal attention with local decision-making are key to the TowneBank strategy. Towne has grown its capabilities beyond banking to provide expertise through its controlled divisions and subsidiaries that include Towne Wealth Management, Towne Insurance Agency, Towne Benefits, TowneBank Mortgage, TowneBank Commercial Mortgage, Berkshire Hathaway HomeServices Towne Realty, Towne 1031 Exchange, LLC, and Towne Vacations. With total assets of $16.86 billion as of June 30, 2022, TowneBank is one of the largest banks headquartered in Virginia.

For more information, contact:G. Robert Aston, Jr., Executive Chairman, 757-638-6780Sara Jo Rubin, Rubin Communications Group, 757-456-5212

Investor contact:William B. Littreal, Chief Financial Officer, 757-638-6813

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4139cc07-2148-4b57-b55c-bba61452b321