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Q2 2026 · read from the 30 June 2026 Call Report · United States · Southeast · Virginia, the state note

Townebank

Portsmouth, Virginia · $22.62B in assets · beside the 5 other Virginia banks over $10B

The filing

0.22%
NPA / loans
1st of 6
2.07%
ROA
1st of 6
6.0x
Coverage of noncurrent
1st of 6

Townebank is the fifth largest of the 6 Virginia banks over $10B, with $22.62B in assets at 30 June 2026. Loans are 82.2% of deposits, 2nd of 6 against a median of 89.1%, and equity is 13.2% of assets, 4th of 6. Loans grew +22.9% in the year, 2nd of 6, and deposits grew 21.7%; the cohort's median loan growth is +4.4%.

Noncurrent loans are 0.22% of the book, the lowest in the cohort against a median of 0.85%; 0.20% is 30 to 89 days past due, and the allowance covers them 6.0 times. Commercial real estate is 41.8% of loans, 4th of 6 against a median of 41.1%, and 249% of capital, below the 300% screen, with construction at 51% against the 100% screen.

Return on assets is 2.07%, the highest in the cohort against a median of 1.58%, on an efficiency ratio of 57.8%, 5th of 6. Five years ago it was 1.65%. The question is which of these lines moves first over the next four quarters, and against which peer.

Nonperforming loans, share of loansVA banks over $10B · 30 June 2026 · lower is stronger, listed first
median 0.85% T Townebank 0.22% UB United Bank 0.44% AU Atlantic Union Bank 0.50% BH Burke & Herbert Bank & Trust Co. 1.19% HB HSBC Bank USA National Association 1.45% CO Capital One National Association 1.49%
Loans, year over yearVA banks over $10B · 30 June 2026 · no better direction, largest first
median +4.4% BH Burke & Herbert Bank & Trust Co. +43.1% T Townebank +22.9% AU Atlantic Union Bank +4.9% UB United Bank +3.9% CO Capital One National Association +2.2% HB HSBC Bank USA National Association -4.5%

SBA 7(a), FY2008 to FY2026

Townebank is the 8th largest 7(a) lender into North Carolina of 326, with $309M across 326 loans, 2.6% of everything approved in the state (Live Oak Banking Company leads with $1.40B). 107 of its 371 markets have had no approvals since before FY2023: an absence in the record, not a stated withdrawal.

Where it lends in North Carolina, and where it has gone quietshare movement, FY2023 to FY2025 against FY2020 to FY2022; outlined counties are on the book
Gaining shareLosing shareFlatGone quiet: nothing since FY2023Too thin to read a directionNo record
Every market on the book, largest firstrank and share among every lender in the county, FY2008 to FY2026
CountyApprovedRankShareTrend
Wake, NC$67M5th of 1813.9%-0.8 pts
Mecklenburg, NC$46M11th of 1772.3%-3.0 pts
Chesterfield, VA$25M1st of 778.6%-11.4 pts
New Hanover, NC$22M5th of 964.9%-4.0 pts
Palm Beach, FL$20M35th of 1950.8%-0.2 pts
Henrico, VA$20M4th of 995.8%-7.3 pts
Durham, NC$18M6th of 894.4%+7.5 pts
Cook, IL$17M59th of 2820.3%-0.1 pts
Iredell, NC$15M5th of 885.1%+1.3 pts
Duval, FL$15M23rd of 1711.1%-1.5 pts
Orange, FL$14M42nd of 2010.7%-1.9 pts
Lee, FL$13M24th of 1691.2%-2.9 pts
Miami-Dade, FL$13M53rd of 2150.3%-0.4 pts
358 smaller markets not shown.
What it lends to: the five largest industries on the bookshare of book is concentration; share of sector and rank are position, among every 7(a) lender nationally
IndustryLoansApprovedShare of bookShare of sectorRank
Accommodation & food services297$226M19.3%0.29%82nd of 2,596
Construction146$146M12.5%0.46%38th of 2,063
Other services153$132M11.3%0.38%55th of 2,248
Manufacturing147$120M10.2%0.30%59th of 2,246
Retail trade156$118M10.1%0.19%93rd of 2,589
7(a) lenders into North Carolina, share of approvals since FY2008326 lenders on record; the ten largest and Townebank
LO Live Oak Banking Company 11.7% $1.40B · 1,090 loans FN First National Bank of Pennsylvan… 5.5% $656M · 942 loans TB Truist Bank 5.4% $645M · 1,934 loans WF Wells Fargo Bank National Associa… 5.0% $600M · 2,368 loans PB Pinnacle Bank 4.2% $508M · 541 loans G Gbank 4.1% $497M · 177 loans UC United Community Bank 2.8% $334M · 426 loans T Townebank 2.6% $309M · 326 loans TH The Huntington National Bank 2.4% $282M · 632 loans FB First Bank 2.2% $263M · 424 loans

Commercial real estate against capital

Commercial real estate concentrationthe 2006 interagency screens against total risk-based capital; owner-occupied excluded; bold marks a screen met
TownebankRankCohort median
Total CRE against capital, the 300% screen249%3rd of 6257%
Construction against capital, the 100% screen51%5th of 639%
Construction and land development, share of loans8.5%5th of 66.1%
Non-owner-occupied nonfarm nonresidential, share of loans27.7%5th of 625.2%
Total CRE, the guidance definition, share of loans41.8%4th of 641.1%
CRE growth over 36 months, the third prong+33.1%4th of 6+30.7%

Among its peers

Where it sits among its peersnavy: the stronger half of each column; amber: the weaker; darker at the ends
InstitutionAssetsROAEfficiencyNPA / loansNet charge-offsAllowance / loansLoans / depositsEquity / assets
Capital One National Association$662.16B1.6%53.7%1.49%3.27%5.0%89.2%14.9%
HSBC Bank USA National Association$173.10B1.0%55.4%1.45%0.16%0.6%39.2%9.6%
Atlantic Union Bank$38.02B1.6%50.4%0.50%0.02%1.0%93.8%15.2%
United Bank$33.64B1.5%46.3%0.44%0.09%1.2%91.6%16.7%
Townebank$22.62B2.1%57.8%0.22%0.10%1.3%82.2%13.2%
Burke & Herbert Bank & Trust Co.$10.98B0.9%69.0%1.19%0.03%1.2%88.9%12.1%
Five years, 2021 to 2026same quarter, five years apart; dollars as growth, ratios in points
TownebankCohort median
20212026Change20212026Change
Loans$9.98B$15.48B+55%$15.60B$26.86B+72%
Deposits$13.08B$18.82B+44%$19.25B$28.96B+50%
NPA / loans0.13%0.22%+0.09 pts0.62%0.85%+0.23 pts
Efficiency66.0%57.8%-8.2 pts64.8%54.5%-10.3 pts
ROA1.65%2.07%+0.42 pts1.49%1.58%+0.09 pts

This read was prepared for Townebank's board and management from the public record, and is one slice of what Lynx builds for any bank from its own filing: the peer cohort, the capital, liquidity and rate models with the assumptions the institution sets, and a summary report of twenty sections for the board.

The full pack on Townebank is prepared on request, and thirty days on the institution's own numbers are open to anyone at the bank.

Ask for the pack

Prepared 7 September 2026
Filing 30 June 2026
Cohort VA banks over $10B
Institution www.townebank.com

Public record only: FFIEC Call Report, 30 June 2026; FDIC data; cohort by state and asset band; SBA 7(a) FOIA release as of the 2026 file, loans credited to the institution holding them today. Computed from the institution's own Call Report and its peers' as published; no estimate, no adjustment; not a rating, not an audited statement and not a supervisory judgement.
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