TowneBank Completes Merger with Village Bank and Trust Financial Corp.
April 1, 2025 – TowneBank (Nasdaq: TOWN) is pleased to announce the successful completion of its merger with Village Bank and Trust Financial Corp. and its subsidiary, Village Bank. This strategic move enhances TowneBank’s presence in the Hampton Roads region of Virginia.
Impact on Customers
The merger is expected to bring numerous benefits to TowneBank’s customers. With the addition of Village Bank’s customer base, TowneBank will expand its reach and provide a broader range of financial products and services. Customers of both institutions can look forward to enhanced digital banking capabilities, increased convenience through expanded branch locations, and access to a larger network of ATMs.
- Improved digital banking capabilities
- Expanded branch locations
- Access to a larger network of ATMs
Impact on the Financial Industry
The merger of TowneBank and Village Bank and Trust Financial Corp. is a significant event in the financial industry, particularly in the Hampton Roads region of Virginia. This consolidation is part of a larger trend of mergers and acquisitions in the banking sector, as financial institutions seek to expand their footprint and enhance their offerings.
- Continuation of the consolidation trend in the banking sector
- Expansion of presence in the Hampton Roads region
Conclusion
The merger of TowneBank and Village Bank and Trust Financial Corp. represents a strategic move for both institutions, offering numerous benefits to their customers and the financial industry as a whole. With the addition of Village Bank’s customer base, TowneBank will expand its reach and provide a broader range of financial products and services. The consolidation is also part of a larger trend of mergers and acquisitions in the banking sector, as financial institutions seek to stay competitive in an ever-changing market.
As a customer of either TowneBank or Village Bank, you can expect to see improvements in digital banking capabilities, expanded branch locations, and access to a larger network of ATMs. The financial industry will continue to see consolidation as institutions seek to expand their footprint and enhance their offerings.
TowneBank remains committed to providing exceptional service to its customers and looks forward to the opportunities that this merger brings.
