Take a trip back in time
at the new American
Revolution Museum at
Yorktown … page 5
Vol. 17,
11, No. 2
TowneBank Foundation’s
Annual Golf Tournament
raises $137,500 for
charity … pages 10-11
NEWS FOR
NEWS
OUR
FOR
COMMUNITY
OUR FAMILY
& FAMILY
OF MEMBERS
OF MEMBERS
Lighting up the Towne
Art by Day, Magic by Night
Spring 2016
2010
TowneBank Soars to Top –
No. 1 in Market Share
E
arlier this year, a 200-foot dragon, a Beijing
Temple, life-size elephants, and massive
flowers filled the 175-acre landscape at
Norfolk Botanical Garden as LanternAsia came to
town. The impressive lanterns, which highlighted
traditional Asian themes, were crafted from silk,
steel, and other materials. It was LanternAsia’s first
trip to Virginia, and TowneBank was honored to be
the presenting sponsor.
Thousands of visitors toured the exhibit, which
was extended for an additional week due to its
popularity. During the set-up phase, more than 30
artists traveled from China to Norfolk to install and
create the colossal, custom structures. The intricacy
of the work was amazing. The White Pagoda, for
example, stood four-stories high and included one
million china plates, teacups, and spoons. Each
porcelain piece was strung by hand.
The exhibit opened to the public with 30 spectacular lantern displays. By day, visitors could appreciate the craftsmanship of these mystical works of art,
while at night, they experienced illuminated art in
massive proportions.
The adventure in light continues later this
year, when the Norfolk Botanical Garden hosts
their holiday display—the Dominion Garden of
Lights. For more details on this popular event, and
all the other great happenings at the garden, visit
norfolkbotanicalgarden.org. ◆
I
n its most recent deposit report, the FDIC ranking places TowneBank in the
No. 1 spot with 21.51% market share in our primary market area. This includes
27 of our offices in the Virginia Beach-Norfolk-Newport News, VA-NC MSA,
which covers all of Hampton Roads, the Peninsula and Williamsburg, as well as
Currituck County in
North Carolina.
NO. OF
MARKET
OFFICES
BANK
DEPOSITS
Based on Towne’s
SHARE
IN MSA
organic deposit growth,
TowneBank
$5.13 billion21.51%27
the bank was already
Wells
Fargo
$4.71 billion19.75%
54
moving steadily to the top.
SunTrust
$3.89 billion16.29%
39
Thanks to new members
BB&T
$3.12
billion13.07%
49
and relationships from
Bank of America
$2.85 billion11.96%
37
Monarch who joined the
Source: FDIC Market Share, June 30, 2016
Towne Family in June, we
Virginia Beach-Norfolk-Newport News VA-NC MSA
were excited to see our
“official” market share ranking as of June 30, 2016.
“This accomplishment is a tribute to our loyal members, our directors and shareholders, and our family members who have all worked so hard these past 17 years,”
says Bob Aston, TowneBank chairman and CEO. “Together, we have created a true
community asset, and a hometown bank where relationships and friendships are
valued. I am so proud of everyone who has made this top ranking possible, and extend
our warmest welcome to our Monarch friends, who helped put us ‘over the top!’” ◆
TowneBank Richmond Headquarters
Now Open!
The White
Pagoda was
one of the
magnificent
works of art
that filled
the Norfolk
Botanical
Garden
when
LanternAsia
came to
town.
P.O. Box 7188
Portsmouth, VA 23707-9971
The Lost Colony–
Celebrating 80 years
of music, dance, and
history … page 6
TowneBank wins Community
Impact Award! Presented by
CoVa BIZ magazine, the award
honors local businesses that
are making an impact in the
community by giving back.
T
o smiles and applause, TowneBank’s new
headquarters in Richmond opened at the
Gateway Plaza on September 15, 2016.
“We have been looking forward to this day with
much anticipation,” said Pat Collins, TowneBank
Richmond president. “There have been so many
wonderful contracting, design, and facilities folks
contributing their talents to this project and—as you
can see—the results are spectacular!”
PRESORTED STANDARD
US POSTAGE PAID
NORFOLK VA
PERMIT # 33
The professional hometown bankers in the Gateway office
are looking forward to meeting members and friends.
Cutting the ribbon at the official opening are (l. to r.)
Tim Joyce, president and CEO, YMCA of
Greater Richmond; Richard Cullen, chairman of
McGuireWoods; Pat Collins; Bob Aston; and the
Mayor of Richmond, Dwight C. Jones.
Continued on page 2
1
■
Dear Friends,
Whether you are “red” or “blue,” one thing
is certain. You are likely glad to see this year’s
negative election year rhetoric come to an end. It
is time to move on to the promise of tomorrow.
As Americans, we are blessed to live in an
aspirational society that continues to set the stage
and tone for greatness. Yes, there are challenges.
Wrongs to be righted and problems to be solved.
However, never underestimate the power of our
democracy and the common good that always
finds a way to be served.
Each generation that has come along has
worried about the younger generation and how
cultural changes will affect the future leadership
and direction of our country. Yet, with every
generational shift, America continues to innovate,
grow, prosper, and improve the plight of mankind.
Much has been written in recent years about
the millennial generation and how they have been
raised, protected, and pampered by “helicopter”
parents while relieving them of personal responsibility, commitment, and hard work. Hence,
they are judged by some to be weak, tender, and
delicate.
Recently, I was privileged to be invited by
Paul Trible, president of Christopher Newport
University, to meet and speak to nearly 800 young
students who are participants in CNU’s President’s
Leadership Program. This highly unique and
engaging program prepares students for lives of
leadership, service, and civic responsibility. In
essence, to build lives of purpose and passion.
Towne Helps
Businesses
Grow and thrive
It was a great honor for TowneBank to be selected as an
SBA 504 First Trust Lender. An SBA representative
traveled to Suffolk to present the award. (L. to r.)
Pat Gomez, Tidewater Business Financing Corp;
Carl Knoblock, SBA District director; Cecil Hobbs,
TowneBank senior loan administrator, and John
Baiocco, TowneBank SEVP/Commercial Lending.
T
owneBank is honored to again be recognized
by the U.S. Small Business Administration as
a Top 504 First Trust Lender in Virginia. Carl
Knoblock, SBA District director, visited TowneBank
to present the award.
As a hometown bank, Towne knows how important it is to help local businesses thrive. The SBA 504
program provides businesses with long-term, fixedrate financing to acquire or renovate land, buildings,
and equipment. During the award period (fiscal year
ending 9/30/15), TowneBank financed more than
$7.5 million in SBA 504 loans.
In 2015, TowneBank also provided $196.3
million in financing for 1,161 small businesses. Of
those, 468 loans were to businesses with gross annual
revenues of $1 million or less, and 701 loans were
for $100,000 or less. An important part of Towne’s
mission is to support local businesses that provide job
opportunities and help stimulate economic growth.
The SBA 504 program helps TowneBank enhance
and support a robust lending program focused on
small and middle-market businesses. Congratulations
to the businesses that make a difference in our community, and to the Towne lending team who work
diligently to help small businesses. ◆
Bob had the
honor of
speaking to
students at
Christopher
Newport
University
during the
President’s
Leadership
Program.
As I rode across the campus in a golf cart with
President Trible on our way to the Ferguson Center
where I was to deliver my presentation, I observed
these extraordinary young people in their professional dress and engaging smiles calling out “Good
evening, President Trible” as they were walking
to the concert hall with a sense of excitement and
passion for the evening’s event. I must admit, they
actually made me a little nervous as I thought to
myself, “Boy, you better be on your ‘A’ game tonight!”
For me, it was an incredible experience that left
an indelible mark in my mind about the future of
our country. These bright and talented young people
were warmly
gracious in style,
inquisitively
engaged in learning and sharing,
and joyously
engaged with each
other in constructing their future.
The spontaneous handshakes and thank-yous as I
exited the auditorium were genuine and reflective
of the highly developed interpersonal skills possessed by these amazing young men and women.
Here at TowneBank, we also have a wonderful
group of young men and women who serve in
various capacities, from enthusiastic banking
and lending officers to talented Member Service
Center and Towne affiliate employees. They
are the future of TowneBank, and you can rest
assured our company will be in good hands as
they assume new leadership roles in the years
to come.
As we in America continue our journey in
embracing Lincoln’s famous words, “government
of the people, by the people, and for the people,”
take comfort in our next generation of young
people. They are going to be really good!
Sincerely,
G. Robert Aston, Jr.
Chairman and CEO
TowneBank Richmond Headquarters Now Open!
Continued from page 1
In this new high-rise, located at
800 E. Canal Street in the heart of
downtown, TowneBank has opened
a first-floor banking center, led by
manager and vice president, Missy
Reynolds. Also on the first floor is
a stunning commercial and private
banking center where many of the
Richmond lenders will now be based.
The 7th floor, which is home
to TowneBank Richmond’s
executive and administrative offices,
encompasses a suite of offices, a
spacious boardroom, and a gorgeous
terrace overlooking the James River.
Richmond’s new Towne Wealth Management group,
led by Matt Buckley and Vince Wood, is also on the
7th floor.
Joining Pat at the ribbon-cutting ceremony was
Richmond Mayor Dwight Jones; Richmond YMCA
president and CEO, Tim Joyce; McGuireWoods
chairman, Richard Cullen; and TowneBank
chairman and CEO, Bob Aston. About 450 guests
attended the festivities, enjoying the camaraderie
and excitement surrounding this grand event. The
mayor declared Gateway a “first-class building with a
first-class bank,” and complimented TowneBank on
“bringing up-close, personal service that makes you
feel like your name matters.”
In his remarks, Richard added his welcome and
commented on how nice it is to have new neighbors
in the building. McGuireWoods has made Gateway
its world headquarters, and now has more than
600 attorneys and staff occupying the majority of
space in the building. Other tenants include The
Riverstone Group and BCG Consulting.
As part of the celebration, a check was presented
to the YMCA of Greater Richmond to support the
valuable work they do enriching, assisting, and
serving the needs of the community. Tim was on
hand to accept the bank’s generous donation, calling
it a stunning investment for the region’s programs
and services.
2
■
The Gateway lobby provides a warm welcome to
TowneBank in downtown Richmond.
In his comments, Bob underscored the bank’s
commitment to Richmond and the central Virginia
community. “In every region that we serve,” he said,
“we believe in becoming a true community asset—
providing loans for economic growth and jobs, lending financial support to enhance the quality of life,
and partnering with local organizations and nonprofits to meet the needs of the local community. Our
Towne Family has a culture of caring that is evident
in all that we do. It’s part of our DNA!”
Special thanks to all the individuals and firms
who brought these new offices to fruition. Clayco,
the developer for Gateway, was a great partner
throughout the process. The architectural firm
of HBA Architects Interior Design ensured that
everything was engineered and built-out to the
bank’s satisfaction. And interior design firm, PC&A
Business Environments, ensured that every space was
professionally designed and furnished for that warm,
welcoming feel.
Next time you are in Richmond, be sure to stop
by the Gateway Plaza and say hello! It’s an exciting
time for TowneBank Richmond, and we look
forward to sharing our unique style of hometown
banking with business associates, neighbors, and
friends. ◆
Successful Monarch Integration
Speaks to Foundation of Trust
O
n June 24, 2016, the marriage of two
top performing banks took place on
the Harbour View campus in Suffolk,
Virginia. The courtship was a short
one … just six months, but the relationship was
strong. And the honeymoon is shaping up to be
something spectacular.
It was a huge undertaking to bring together two
hometown banks the size of Monarch Bank ($1.2
billion in assets) and TowneBank ($6.4
billion in assets). It required months of
planning, technical integration, strong
member communication, and great
teamwork. But both teams were up to
the challenge—successfully “tying the
knot,” while working through all the operational
details in the Member Service Center, the banking
offices, and the lending centers.
On Monday, June 27, the two banks opened as
one, and Bob Aston, TowneBank chairman and
CEO, sent out warm greetings and thanks to all.
“Today is an exciting day as we officially welcome our
Monarch friends and clients to the Towne Family.
Together, we will continue our journey to build a
great community asset by embracing a warm spirit of
caring as the foundation for our future.”
HOW THE STORY BEGAN
mortgage originations. He has been named chairman and CEO of TowneBank Mortgage and Realty
Group, succeeding Jackie Amato who is retiring later
this year. A warm welcome to these and all of the
other talented Monarch employees who have joined
the family!
CHARITABLE GIVING
Monarch’s Children’s Charities golf tournament has
raised more than $1.5 million throughout its history.
MONARCH LEADERSHIP
The Towne Family is pleased to welcome many
Monarch employees and members of their executive
management team. Brad Schwartz has
joined Towne’s corporate management
group as senior executive vice president
and chief operating officer. He is quickly
LOOKING FORWARD
settling in to his new role, integrating
TowneBank has now taken the No. 1
Monarch and Towne’s operational
position in market share in the Virginia
and technology teams and preparing
Beach-Norfolk-Newport News, VA-NC
for the future growth of this now $7.9
MSA, well beyond national financial
billion bank. Neal Crawford, Monarch
institutions in the market like Wells
president, has also joined the Towne
Br ad Schwartz
Fargo, SunTrust, BB&T, and Bank of
Family as president and chief executive
America. It’s an exciting
officer of Towne Financial
time for a hometown
Services Group. In this
bank just 17 years old.
role, he leads Towne’s
Best of all, Towne and
affiliates, including insurMonarch can continue
ance, employee benefits,
to do what they’ve
mortgage, real estate,
always done … be a
investments, etc. Will
source of strength and
Morrison brought over a
support for the comlarge Monarch Mortgage
munity and the regions
division with more than
Neal Cr awford
Will Morrison
they serve. ◆
$2.1 billion in annual
Monarch founding president William “Tree” Rountree Jr.
(seated) with some original Monarch employees. The
bank started in the attic of a law office.
TowneBank and Monarch have many similarities.
Both opened for business in April of 1999. Both had
humble beginnings … Bob Aston started TowneBank
in his home garage, while William Rountree Jr. led
the Monarch team from the attic of a law office.
Both raised significant start-up capital and weathered
the economic downturn in 2008. Over their 17-year
history, both banks received numerous awards, and
earned the respect of peers and competitors. Most of
all, these two great hometown banks were focused
on improving the quality of life in the communities
they serve. That charitable spirit continues to shine
brightly today!
A FOCUS ON FRIENDSHIPS
AND RELATIONSHIPS
At Monarch, customers were called clients, and
at TowneBank, they are called members. But at the
end of the day, the most important name is “friend.”
That hometown philosophy of “creating a warm
sense of belonging” and “building lasting relationships through exceptional service” continues to be
at the heart of the bank’s foundation. Throughout
the merger, the entire bank family worked tirelessly
to make the transition as smooth as possible for
new Monarch members. As Bob Aston and Brad
Schwartz, Monarch’s CEO, both shared, “it’s
rewarding to be in a business where you can take
great care of your members, support the growth of
local companies, create new job opportunities, and
lend a hand to those in need.”
Philanthropic support and volunteerism is
extremely important to the Monarch and Towne
families. The legacy that was created by the late
“Tree” Rountree continues through Monarch’s
Children’s Charities. Through an annual golf
tournament, more than $1.5 million has been raised
in support of many deserving children’s charities.
$200,000 was raised at this year’s event, held
October 6 at the Aeropines at Oceana. TowneBank
and the TowneBank Foundations will also continue
to generously support the communities
we serve; in 2015, donations exceeded
$5 million.
How Do You Define Generous?
V
TowneBank Has the Answer!
irginia Business magazine has once again placed TowneBank on their annual list of Generous
Virginians. TowneBank has been in the top 10 ever since the list began in 2010, and this year,
Towne moved up to No. 4, after coming in at No. 7 last year.
To compile the list for
the Generous Virginians
Total Corporate Donations
Project, Virginia Business
A sampling of companies’ total contributions to Virginia nonprofits in 2015.
surveys companies across
Company
Location
Total VA Donations
the Commonwealth and
Altria Group
Richmond
$16,872,268
then honors those that made
Dominion
Resources
Richmond
8,700,000
charitable contributions
San
Francisco;
Regional
of $500,000 or more.
Wells Fargo
6,012,638
headquarters in McLean
TowneBank’s donations
5,247,629
Portsmouth
TowneBank
in excess of $5.2 million
4,374,000
Richmond
WestRock
represent support to hundreds
4,219,457
Norfolk
Norfolk Southern Corp.
of charities and nonprofits in
4,017,739
Woodbridge
Potomac Health Foundation
the areas TowneBank serves.
McLean, Richmond
2,758,000
Ernst & Young
“Over the years, the
(Va. locations)
word ‘generosity’ has come
Anthem Blue Cross and
2,600,000
Richmond
Blue Shield, Virginia
to be synonymous with
Union Bank & Trust
1,571,984
Richmond
TowneBank, and that is
Williams Mullen
589,100
Richmond
something that fills me with
Impact
Makers
230,000
Richmond
joy,” said Bob Aston. “This is
Keiter
123,703
Glen Allen
a recognition of the generous
Orbital
ATK
95,000
Dulles
spirit of an amazing group
Richmond, Newport News,
of people who every day
Dixon Hughes Goodman LLP
Chester, Norfolk, Virginia Beach,
give their time, talent, and
63,000
Roanoke, and Tysons Corner
resources to help people in
Source: Virginia Business survey
our community.” ◆
3
■
PENINSULA
TowneBank Sails Unfurled
at the Hampton Yacht Club
Leaving a Lasting Legacy
“At the end of the day, it’s not about
what you have or even what you’ve
accomplished. It’s about what you’ve
done with those accomplishments.
It’s about who you’ve lifted up,
who you’ve made better.”
J
~ Denzel Washington
OHN MARKS knew about giving and
The Sonar Fleet is underway in Hampton, showcasing their new TowneBank sails.
n August, the Towne laurel took to the water
logo reproduced well. By all accounts, it was “misas part of the Hampton Yacht Club’s (HYC)
sion accomplished!”
Sonar Fleet. With new and striking sails, adult
David Hare, TowneBank senior executive vice
and junior participants in the club’s sailing program
president, was on hand for the presentation. “As the
headed out for an afternoon of sailing, along with
largest sailing club locally, the HYC has great vissome friendly racing competition.
ibility and participation from both sides of the water.
Many Towne employees and members are active
What a fun way to showcase the Towne name in a
with the Yacht Club, including Judy Carr Miller,
‘perfect beam reach,’ and honor one of our region’s
who was the catalyst behind the project. “The previmost deeply-rooted maritime traditions.”
ous sails were quite worn,” said Judy, “It was time for
Sailing is a great way to develop seamanship and
a replacement, and Towne was pleased to step in with
team spirit, plus it’s a whole lot of fun! The junior
a community sponsorship for six new sails.”
sailing program has been especially popular, with
Alyson Wyatt, TowneBank’s graphic designer
many participants moving on to sailing competitions
created an image that was beautiful, eye-catching,
at the high school and college level. Next time you
and easily associated with TowneBank. Jim Miller, of
are near the Hampton waterfront, be sure to watch
Doyle Sails Hampton, coordinated the production of
for the Towne sails, and to learn more about the
the custom sails and ensured that the graphics and
Hampton Yacht Club, visit hamptonyc.com. ◆
I
generosity. He’d made a practice of it for
decades, even before he had any savings.
John and his twin brother, Jimmy, were 1953
graduates of Peninsula Catholic High School
(then called St. Vincent de Paul). They carried
the school and its mission in their hearts, and
each year they would give what they liked
to call “private scholarships.” Five thousand
dollars here and another $5,000 there—they
regularly impacted the lives of students who
could not afford the tuition.
Manufacturing for Cars, the Stars…
W
and Everything in Between
hen you talk with Mabel
(Mabs) Goble, it’s not just the
gentle southern accent you
notice. It’s the pride in her voice. She
has good reason to be proud, heading up
Engineering Development Laboratory
Inc.—the premier electronics manufacturing services firm in southeastern
Virginia.
Mabs started the firm with her
husband Ross Goble, Ph.D., in 1984.
“Ross was the youngest division chief
at NASA Langley when he came home
one day and said, ‘Mabs, let’s start a
company!’ I knew he was smart and very
entrepreneurial, so I said okay,” recalls
It’s all in the family at Engineering Development Lab. (L. to r.)
Mabs. With kids grown and out of the
Steve Patterson, Pamela Patterson, Mabs Goble, Debbie Noble,
house, the couple launched Engineering
Jay Noble, and Greg Goble surround a photo of Ross Goble.
Development Laboratory Inc. (EDL).
The firm’s 30 employees manufacture the latest
Although the firm started out providing engineerelectronics technology for commercial and military
ing design and build services for Space Shuttle Life
clients. “We have a wide range of capabilities and
Sciences flight hardware, that changed when Siemens
personnel who have been with us for decades,” said
called to outsource manufacturing an aftermarket
Mabs. “We constantly update our equipment and
line of products for General Motors and Ford. “We
train personnel so they’re up to date on the latest
expanded our work. Contracts with Canon Virginia,
manufacturing processes, including soldering to meet
nView, and Pressure Systems (now TE Connectivity)
IPC Class 3 standards.”
followed because once we were known, people really
EDL, an ISO 9001:2008 certified firm, was the
liked our work.” Now the firm designs and builds
first small business in the state to get the SHARP
products for industry giants like Raytheon, Rockwell
award from the Virginia Department of Labor and
Collins, Continental Corp., NASA Langley and
Industry for safety in the workplace and was Supplier
many local firms.
of the Year for Canon Virginia multiple times. Mabs
Over time, all of the couple’s grown children and
attributes the firm’s success to their flexibility and
spouses have come to work for the family firm after
cost-effectiveness.
working for other companies. “A great deal of our
EDL began their relationship with Towne 14
growth and success has been because of their hard
years ago when building their 25,000-square-foot
work and dedication,” says Mabs. Their daughter
manufacturing facility. “We’d known Brian Skinner,
Debbie is the firm’s comptroller; Pam directs
Peninsula/Williamsburg president and regional
electronic parts purchasing; and son Greg is director
executive officer, and talked to him about financing,”
of engineering and serves as the company’s IT and
said Mabs. “Before long, we moved all of our insurquality person. The sons-in-law play critical roles,
ance and benefits needs over to Towne as well.”
too—Jay Noble (Debbie’s husband) is director of
Mabs encourages anyone with electronic product
manufacturing. Pam’s husband Steve Patterson serves
ideas or designs to call them. To learn more about
as director of marketing. “Our grandchildren even
EDL, visit edli.com. ◆
worked here during school breaks,” Mabs laughs.
4
■
Towne Investment Group’s Steve Kennedy (l.)
enjoyed getting to know John Marks (r.) as both
his financial advisor and friend.
“It’s a wonderful success story in a day
when we hear so much negativity,” says Steve
Kennedy, vice president and financial advisor
with Towne Investment Group. “Johnny was
a banker for many years, and Jimmy worked
at the shipyard. They adopted Peninsula
Catholic early on, volunteering and helping
out wherever they could.”
Several years ago, John decided to leave
a large amount of his estate to Peninsula
Catholic. Jimmy knew of his wishes, and
shortly before John’s death this past April,
the two talked about the donation and
if they should make it public knowledge.
“They wanted to inspire others,” Steve says.
“Whether it’s Catholic education or other
private education, schools are in need, so
Jimmy decided to shout it from the rooftops.”
John Marks spent a
lifetime giving to his
community. He had
a special place in his
heart for Peninsula
Catholic High
School.
Originally founded in 1903, today,
Peninsula Catholic serves nearly 300 students.
Steve relates how he conveyed the news.
“When I called Janine Franklin, principal of
Peninsula Catholic, to tell her about the donation, she burst into tears. To have a bequest
larger than $300,000 is stunning. Frankly, I
have never seen anything like it in a smaller
market like Hampton Roads.”
TowneBank hosted an event at the
Williamsburg office where Jimmy Marks
presented the check to Janine, while family
and friends looked on. “All of this to honor a
man who should be honored in every sense of
the word,” Steve said. ◆
Raymond James is not affiliated with John and Jimmy
Marks and/or the Peninsula Catholic High School.
WILLIAMSBURG
Take a Trip to the Past in Yorktown
The entrance lobby and mezzanine of the museum.
M
ore than 200 years after the decisive
shot in our country’s revolution was
fired in Yorktown, the American
Revolution continues to fascinate
Americans of all ages. While the historic triangle
area preserves the feel of Colonial America, the
American Revolution Museum at Yorktown expands
on the story. With work nearing completion—and
a new name—the museum will help thousands of
visitors annually understand the causes, meaning,
and continuing impact of this seminal event in our
nation’s history.
The museum, formerly known as the Yorktown
Victory Center, opened in 1976 as one of three
Virginia visitor centers for our nation’s bicentennial.
During the 1990s the museum’s focus was broadened
to encompass the entire Revolution. Ultimately the
Jamestown-Yorktown Foundation—the Virginia
state agency which operates the museum—chose
to replace the Yorktown Victory Center with a new
80,000-square-foot building and new living-history
areas on the 22-acre site.
New permanent galleries and an introductory
film are being introduced this fall. “Together with
the new Continental Army encampment and 18thcentury farm living-history sites, which are scheduled
to open by next spring, the American Revolution
Museum at Yorktown will strengthen the historic
triangle’s prominence as one of the nation’s premier
American Revolution destinations,” notes Peter
Armstrong, Jamestown-Yorktown Foundation senior
director of museum operations and education.
will officially launch the American Revolution
Museum at Yorktown March 23–April 4, 2017.
TowneBank has been a longtime supporter of the
Jamestown-Yorktown Foundation’s work and mission. TowneBank first became involved during The
Campaign for Jamestown Settlement, 1607–2007,
and then continued that commitment in 2013 by
becoming one of the earliest donors to
the American Revolution Museum at
Yorktown. “That early support enabled
us to really focus on what artifacts
we wanted to acquire, what topics we
wanted to cover, and how we would
present them,” Peter explains. “It gave
us that early boost we needed to deliver
this magnificent museum.” To honor
that significant donation, an informational pavilion that will assist visitors
with the transition from indoor galleries
to the outdoor living-history experience
will be named TowneBank Pavilion.
Brian Skinner, Peninsula/Williamsburg
president and regional executive officer,
is pleased to lend his support to this
important project by serving on the
Entrance to the American Revolution Museum at Yorktown with the Jamestown-Yorktown Foundation Inc.,
Freedom’s Sentinel eagle sculpture on the pediment above the columns. board of directors.
Local residents who
The new Liberty
live in James City County,
Fever movie will provide
York County, and the
guests with the historical
City of Williamsburg
background to view and
receive complimentary
understand the close
admission, and Virginia
to 500 artifacts housed
residents who purchase
in the museum’s new
the American Heritage
22,000-square-foot
Annual pass online
permanent exhibition
can visit the American
galleries. Included in the
Revolution Museum at
exhibit is a Declaration of
Yorktown and Jamestown
Independence broadside
Introductory panel for the American Revolution timeline. Settlement for one year
dating to July 1776, and
for the price of a one-day ticket. If you’d like to visit
an extremely rare early southern American long
or learn more about how you can volunteer or suprifle. The outdoor living-history areas are undergoing
port the Jamestown-Yorktown Foundation museums,
reconstruction to expand opportunities for guests to
visit historyisfun.org. ◆
participate in activities. A grand opening celebration
Your Hometown Bank at Work in the Community
T
owneBank has been out and about in
Williamsburg and on the Peninsula,
and we have the photos to prove it! The
5th Annual ShinDIG was an evening of music,
barbecue, and beautiful views of the James
River. TowneBank executive vice president Doug
Burgoyne was there on guitar with the “Who Ever
Shows Up” band. Proceeds for the event benefited
the Jamestown Rediscovery Project which is
investigating the remains of the original settlement at Jamestown established in 1607.
Towne was also honored to help sponsor the
Williamsburg Craft Beer Festival which has raised
more than $30,000 in its two-year history to help
local nonprofits. The Williamsburg Rotary put on
the event and this year’s charities included:
■■ Literacy for Life – offering free one-to-one
tutoring to help adults gain the literacy skills
required for self-sufficiency and meaningful
participation in the community.
■■ Avalon – a center that provides shelter for
women and children experiencing domestic
violence or sexual abuse.
■■ Child Development Resources – CDR
helps babies and toddlers with disabilities or
developmental delays.
■■ Beyond Boobs – supporting young women
diagnosed with breast cancer and providing
breast health education for all.
Organizers came together to present
checks to the nonprofits at Towne’s
Williamsburg office (pictured below).
Brian Skinner, TowneBank’s
Peninsula/Williamsburg president
and regional executive officer (right),
5
■
serves as vice chair for
An Achievable Dream
Academy and regularly
visits the school. The
academy is a unique
partnership between
Newport News Public
Schools, the city of
Newport News, and
the local business
community that gives
at-risk students a chance to succeed. Students
in kindergarten through 12th grade are offered
a quality education in a nurturing environment,
and have the opportunity to develop meaningful
relationships with caring adults.
No matter what community you live or
work in, you’ll be sure to see TowneBank there,
making a difference. That’s what hometown
banking is all about. ◆
North Carolina
80 Years of Dr ama and History
E
ach summer, more than 200 actors,
dancers, technicians, designers, and
volunteers bring The Lost Colony story
to life. The stage is more than three times
larger than most Broadway stages. The audience is seated in the center with action happening on three sides—epic battles, Native
American dances, the pageantry of the Queen
and her court, and the birth of Virginia Dare,
the first English child born in America.
Produced by the Roanoke Island
Historical Association, The Lost Colony
celebrates its 80th anniversary next season.
First staged in 1937, The Lost Colony is the
nation’s longest-running symphonic drama.
Many readers are familiar with the
story. In 1587, 117 English colonists came
The Tony Award winning The Lost Colony
celebrates 80 years next season, making it the
nation’s longest running symphonic drama.
Outer Banks Honors
Longtime Tourism
Advocate
A
special dedication ceremony was held in
June to honor a very special woman—
Sarah Alford Owens. Family, friends, and
area dignitaries gathered to pay tribute
to Sarah at the Outer Banks Welcome Center located
in Manteo near the Virginia Dare Memorial Bridge. A
bronze plaque under her photos states, “This Welcome Center is
Sarah Alford Owens was
dedicated with deep appreciation to the memory of Sarah Alford
a pioneer, along with Aycock Brown,
Owens, who played a large role in encouraging visitors to fall in
in promoting the Outer Banks as a
love with Dare County’s Outer Banks.”
tourism destination. The Welcome
Center in Manteo (below) was
A native of Manteo, Sarah was the wife of TowneBank
dedicated in her honor.
director Bobby Owens and mother to TowneBank director R.V.
Owens. She passed away in May of 2015. For nearly 30 years, she worked side-by-side with Aycock
Brown, founding director of the
Dare County Tourist Bureau, and
namesake of the Welcome Center
located in Kitty Hawk. The two
were tireless in their promotion
of tourism on the Outer Banks in
the early days and paved the way
for the extraordinary popularity
the area enjoys today. Sarah never
thought about retiring and continued to greet locals and visitors
with her winning smile at Owens
Restaurant.
Our warmest regards go out
to the Owens family and Sarah’s
many friends and neighbors. She
will be remembered fondly by all. ◆
6
■
to Roanoke Island to establish a permanent English
settlement in the New World. Three years later, when
English ships returned with supplies, they found the
island deserted with no sign of the colonists except
the single word, “CROATOAN,” carved into the
surface of an abandoned structure and the letters,
“CRO,” scratched into the bark of a tree. After nearly
450 years, the mystery of what happened to the
colonists remains unsolved.
The Lost Colony is performed on the site where
these actual events occurred. Written by Pulitzer
Prize-winning playwright Paul Green, The Lost
Colony brings our nation’s oldest mystery to life.
Roanoke Island’s Waterside Theatre was designed by
Albert “Skipper” Bell, an Englishman who relocated
to North Carolina. Using labor from the Civilian
Conservation Corps and materials supplied by WPA
(Works Progress Administration) funding, it took
Bell and his team six months to complete the project.
The Lost Colony has won numerous awards over
its nearly 80 years and in 2013 was presented a Tony
Honor for Excellence in the Theatre, the first theatre
in North Carolina to be presented with a Tony
Award. Actor Andy Griffith started his acting career
playing Sir Walter Raleigh in The Lost Colony and
loved the area so much he retired in Manteo.
Recently, TowneBank and TowneBank’s North
Carolina president, Taylor Sugg, were presented
with the Skipper Bell Award by the Roanoke Island
Historical Association. The award is given to a
business and an individual each year for their support
of The Lost Colony. “It was a real privilege for us to
receive this distinguished award,” Taylor said. “The
Lost Colony is an Outer Banks treasure that draws
thousands of visitors and residents each season.
TowneBank is honored to be a part of its ongoing
success.” For more information and a 2017 schedule,
visit thelostcolony.org. ◆
Teaching Children to Save
TowneBank’s Johnny Caddy (center) and Kim Ferebee
(far left) visited Griggs Elementary School in Poplar
Branch as part of Teach Children to Save (TCTS) Day.
This program is sponsored by the American Bankers
Association and teaches children the basics of saving,
how to create a budget, and how to distinguish wants
from needs. (See more TCTS photos on page 18.)
VIRGINIA
BEACH
S
CHESAPEAKE BAY ACADEMY
Celebrating the Uniqueness of Every Child
ometimes a child with a
learning challenge like
ADHD or dyslexia can
fall between the cracks in the
education system. That’s where
Chesapeake Bay Academy
(CBA) steps in to help with a
curriculum custom designed
for each student.
“We serve students with a
variety of learning differences,”
says Dr. Judy Jankowski, Head
of School. “We go beyond labels like ADHD
and autism, and recognize that our students are
capable young people who can find success in the
classroom when they receive instruction in the
way they learn best.” CBA offers multisensory
instruction that engages students through movement and hands-on components that allow them
to connect with new information in ways that are
comfortable to them.
“CBA offers an individualized approach to
education that embraces the whole child and
provides exactly what is needed for students to
find success in higher education, careers, and
life,” Judy said. “All children can benefit from an
academic program designed specifically to meet
their learning needs. This is especially true in the
case of students with learning differences.”
Chesapeake Bay Academy was founded by a
group of parents who wanted to create a learning
Running, Rolling
& Strolling
for a Good Cause
Team Towne was on hand to support the Annual Run,
Roll or Stroll event to benefit Jewish Family Services.
T
owneBank was honored to be presenting
sponsor for the 12th Annual Run, Roll
or Stroll event to benefit Jewish Family
Services (JFS). The event, held at the Virginia Beach
oceanfront, featured an 8K run, a 5K run, and a 1M
fun run.
It was a beautiful day in June, and participants
had a great time helping a good cause. The annual
Run, Roll or Stroll event raises funds to help JFS
provide services to more than 3,000 individuals of
all faiths and ages. Their programs provide a variety
of support, including assistance to families facing
financial crisis, individuals recovering from surgery
or a debilitating illness, or children coping with the
loss of a loved one. Over 60 percent of their clients
are impoverished, so services provided by JFS are a
valuable safety net to those in need. Towne and its
employees are pleased to lend a hand. ◆
environment where their children would
be understood. “The parents could not
find what they needed for their children
in the public school system,” Judy said. “In
the early years, the school worked primarily
with students who were dyslexic. Now CBA
reaches a much broader group of students
with learning differences.”
In 1994, CBA served 37 students,
aged 5 through 12. The school was housed
at Heritage United Methodist Church in
Virginia Beach until 2000 when they moved to a
state-of-the-art, 50,000-square-foot building directly behind the church
off Baker Road. Today, CBA is a K–12 school with 100 students and
more than 40 faculty and staff.
Looking to the future, the school recently initiated the MAKE CBA
program, which gives upper school students the opportunity to create
and run their own business. It includes hands-on, interactive sessions
and mentoring by CBA faculty
as well as entrepreneurs from the
Hampton Roads Community. CBA
was recently awarded a grant to
expand MAKE CBA. “When our
students graduate, we want them to
be empowered with the skills, strategies, and confidence necessary to
realize their full potential,” Judy said.
TowneBank is honored to support
the good work at CBA. “Partnering
with TowneBank has been a natural fit for us, and we are so grateful for their
support over the years,” Judy said. For more information, visit cba-va.org. ◆
Students find
a place to excel
at Chesapeake
Bay Academy.
Each student has
a curriculum
custom designed
for their unique
learning method.
Dishing Up Yummy Food –
W
A Breeze for this Company
hen best friends, chefs
and co-workers, Kelly
McMoran and Lori Verity,
were laid off in 2009, that could have
been seen as a setback. But these two
entrepreneurial women turned lemon
into lemonade and launched Yummy
Goodness Catering Company. And
talk about a success story! This year
they celebrated their fifth anniversary,
expanded their kitchen twice last year,
and now average 200 major events
annually.
“Working for yourself is so much
fun,” Kelly smiles. “I always wanted
Lori Verity and Kelly McMoran started Yummy Goodness Catering
to work in a fun environment so I
Company and their yummy food has been greeted with great success.
was able to create one. Our employees
look forward to coming to work each day.” The
meals for children at the E3 School in Norfolk.
name of the company comes from a pasta sauce
They also help support the literacy needs of at-risk
that Kelly has been making for more than 20
and homeless children through the REACH
years. “I made a big pot of it today. It’s a roasted
program. And they are big supporters of area
garlic, roasted tomato, red pepper cream sauce.
foodbanks.
When we were trying to figure out a name for our
Kelly describes how Yummy Goodness
company, I said, ‘Why don’t we name it after the
Catering has become TowneBank’s “biggest
pasta sauce?’ Yummy Goodness is a good name
fan.” “We were with a large bank and not that
for a catering company!”
happy with their service. Everyone kept telling
Weddings, brunches, bridal and baby showers,
us to go with Towne. It was the best decision we
corporate events, and holiday meals—Yummy
ever made. Annette Yaba is our amazing banker
Goodness does it all. Yummy Goodness also
at First Colonial who will even come to us at the
sponsors a Community Kitchen, the only one
shop if we are too busy to make it to the bank.
in Hampton Roads, which serves as a “culinary
Beth Prever, TowneBank’s P.R. and event director,
incubator.” “When we first started, we struggled
asked us to come in so their team could sample
to find kitchen space to rent,” Lori said. “Now
our dishes. Ever since, we’ve been thrilled to cater
we are pleased to offer small culinary-based
many of the bank’s events. The faith that Beth
businesses the opportunity to rent kitchen space
and Towne have put in to us has made us even
to produce their products.”
better caterers.”
Lori and Kelly are dedicated to giving back to
For more information, be sure to visit
their community. Each day they provide healthy
yummygoodnesscateringco.com. ◆
7
■
I
Art, History, Gardens & Sunsets on the River
n 1895, William and Florence Sloane moved
In 2014, the
from New York to Norfolk to operate a textile
Hermitage offered the
mill. They built an arts and crafts style house
Bruce Munro light show,
on the Lafayette River which today is home to the
a large exhibit that filled
Hermitage Museum. “Mrs. Sloane was interested in
the gardens and drew
the arts, and she filled the house with art,” relates
thousands of visitors.
Jen Duncan, executive director of the Hermitage
Recently, the Hermitage
Museum. “Mrs. Sloane helped establish the Norfolk
presented a show of
Museum of Art and Sciences which is now the
contemporary origami.
Chrysler Museum. Her goal for the Hermitage was
“The origami creations
that it should be a place where the community could
were huge. One filled an
experience all types of art—visual arts, the performentire room,” Jen says. “We hung some pieces from
ing arts, as well as the art and
the ceilings and filled the galleries
beauty of the natural environment.
with origami. The juxtaposition of
She really was a woman ahead of
that art with the work Mrs. Sloane
her time.”
had collected was fascinating.”
Over the years, the Hermitage
Jen came to the Hermitage three
evolved into a museum with an art
years ago through an interesting
collection spanning 5,000 years,
series of events. “I was living on a
contemporary exhibition galleries,
sailboat and stopped in Portsmouth
a visual arts studio, and 12 acres
for repairs. I was there about a
of gardens. “A few years ago, the
month and explored Norfolk during
Hermitage Museum and Gardens
that time. I thought it was a pretty
began to welcome the community
cool place and could imagine myself
through those big iron gates and
living here. Three years later, I saw
into the building,” Jen smiles.
an ad for the Hermitage Museum
“That helped set in motion what we
and remembered Norfolk. I had
are focused on today—reaching
worked at a similar museum in
Large origami sculptures were
a broader audience—people who
St. Louis and knew I could help the
featured in the “Above the Fold:
have never been here or perhaps
Hermitage in their efforts to reach
New Expressions in Origami” show. out to the community.”
haven’t been here in 30 years.”
The Hermitage is also focused on preserving the
natural beauty surrounding their location. They
worked with the Virginia Outdoors Foundation to
permanently protect the area from development, and
received a Lifetime Achievement award from the city
of Norfolk for their wetlands restoration work.
TowneBank was honored to sponsor the Sunsets
on the River concert series this past summer, which
will begin again in May of 2017. “We had about 150
Artist Patrick Dougherty created an amazing outdoor
to 300 people attending each concert. It’s a lovely
environmental sculpture at the Hermitage in October.
experience with the sun setting on the Lafayette
M
Caring for the
Most Critically Ill
The Bruce Munro light
show filled the gardens at
the Hermitage Museum
with sparkling lights.
River,” Jen said. “When
Towne came onboard, it
dramatically helped us
expand the program. We
now have 600 to 1,000 in
attendance. The museum
is open during the concerts, and just about everybody takes the opportunity
to walk through the museum.” If you’d like to learn
more about upcoming events, classes, or the museum
itself, be sure to visit thehermitagemuseum.org. ◆
A Fun Run with Blair
Middle School Students
TowneBank was honored to be presenting sponsor
for the annual Blair Middle School Clipper
Classic. This one-mile fun run through the heart
of Ghent was a great chance for some of our
Hometown Bankers to join in the fun, running
with Blair Middle School students. Towne’s
sponsorship provided funding for more than 100
students to take part in the race.
ost hospital CEOs don’t hear from
wife had been very sick with meningitis, was
patients or their families once
able to go home after discharge, and is well
they’re discharged—Aimee Vergara
now. Those are the stories that motivate our
is different. Aimee is the CEO of Sentara’s
staff to continue providing the safest environHospital for Extended Recovery, a long-term acute
ment for the chronically and catastrophically ill.”
chronic, medically complex conditions, its staff
care (LTAC) hospital that opened in 2001. The
In addition to their everyday patient care, the
provides a very high level of service. “We have a very
hospital cares for “very sick patients
hospital gives back to the community by particilow nurse to patient ratio—one nurse
who come to us for up to a month
pating in the American Cancer Society’s annual
for every three or four patients­— and
of intensive medical care after
Relay for Life and the American Heart Society’s
our admissions team does a lot of
leaving ICU or a step-down unit.”
annual Heart Walk, as well as collecting food for
front-end work before patients are
The hospital, which is located
the Southeastern Virginia Food Bank, and pet
admitted. They talk at length with
within Sentara Norfolk General
supplies for the Norfolk SPCA. “Our patients just
their case manager, family members,
Hospital, provides a huge advantage
love it when therapy dogs come to visit,” smiles
and physicians so we are fully
for patients. “We are the only
Aimee. “Many of these patients have been in the
equipped to provide the best, safest
LTAC hospital in the area within a
hospital for more than a month, and they despercare for patients,” explains Aimee.
Aimee
Vergar
a,
CEO
hospital, and are situated within a
ately miss their own pets.”
It’s that type of deep care, provided
Level 1 Trauma Center,” says Aimee. “It provides
The hospital has been a TowneBank member
daily for three or four weeks, that creates bonds
seamless access to anything our patients might
for more than 10 years.
between the hospital’s staff
need, and gives their family members greater
Aimee says that the
and patients. “One of the
peace of mind.”
hospital’s relationship
unique things about working
Since opening, the hospital has provided care
with TowneBank Norfolk
in a long-term acute care
for nearly 4,000 patients. Although the hospital
manager Sherry Dewar
hospital is that we get to
is owned by Sentara, it operates separately from
has been hugely positive
watch our patients’ progress,
Sentara Norfolk General Hospital. “We have our
and helpful. “Sherry is
which is really gratifying,”
own board of directors and pay a lease to Norfolk
spectacular! She is always
says Aimee. The hospital
General for our physical space. Any service that
asking what she can do
specializes in ventilator
Conveniently located within Sentara Norfolk
we don’t provide on our own, we purchase from
to help increase people’s
weaning, complex wound
Norfolk General,” explains Aimee. While most
awareness about our work,
care, and respiratory illnesses. General, the Hospital for Extended Recovery
provides intensive long-term care for patients.
patients are referred by Sentara, some are transand makes sure that we
“Nearly half of our patients
ferred from Chesapeake General, DePaul, and
are taken care of. As a member, and a fairly new
go directly home once they’re discharged, which is
Bon Secours facilities, due to the hospital’s ability
CEO who is committed to providing the best care
amazing, considering how sick they are,” says Aimee.
to provide specialty-level care.
for our community, I appreciate the service she
“In fact, the husband of a patient we cared for nine
Because the hospital cares for patients with
provides, which is above and beyond!” ◆
years ago came back just last month to thank us. His
8
■
◆
SERA-BRYNN
STRIKE ONE!
Bob Aston was in
fine form when he
threw out the first
pitch at the ODU
vs. UVA game at
Harbor Park.
T
owneBank’s chairman and CEO Bob
Aston was on hand to throw out the
first pitch at the ODU vs. UVA baseball
game this summer. Held at Harbor Park,
Towne Family members enjoyed a great day at
the ballpark under beautiful blue skies.
UVA was in strong form, coming off last
year’s NCAA championship title. But this
was no walk in the park, as ODU had won
three games in their last four meet-ups. With
enthusiastic cheers from the stands, both teams
battled hard. At the end of the day, UVA came
out on top with a final score of 8–4.
Rumor has it that talent scouts were
impressed with our CEO’s pitching form.
(Maybe the Major League will be calling
soon!) ◆
Chart-Topping Performance in Virginia & Nation
S
era-Brynn, a Towne strategic
partner, continues to surge up
the Cybersecurity Ventures list
that measures the hottest and most
innovative cybersecurity firms. In
the most recent 2016 Cybersecurity
500 rankings, Sera-Brynn was listed
as 7th in the U.S. and 10th globally,
while retaining its No. 1 position in
Virginia.
“We are thrilled to be listed in the
top 10 of the world’s most innovative
cybersecurity solutions companies,”
said Sera-Brynn CEO, Rob Hegedus.
The team at Sera-Brynn (l. to r.) Derek Dabbs, Heather Engel, Rob
“Our firm is a recognized leader
Hegedus, and John Kipp stand ready to help with your cybersecurity needs.
in innovative, inclusive, uniform,
support for government contractors required to meet
and affordable cybersecurity compliance solutions
the 12/31/17 Department of Defense cybersecurity
for clients across a broad range of industry and
deadline.
government regulatory requirements.” Sera-Brynn
Sera-Brynn’s experienced security engineers
works with healthcare corporations, municipalities,
and compliance auditors help clients monitor their
national nonprofits, accounting and law firms, and
computing environment, limit their cyber risk and
many Fortune 1000 companies. Their client list
liability, meet compliance guidelines, and assist with
includes the city of Newport News, the Virginia
incident response. Penetration testing, vulnerability
Department of Motor Vehicles, and the National
assessments, mobile device security, and log manageCatholic Risk Retention Group, among others.
ment are just a few of the tools employed to help
Headquartered in Suffolk, the company is one
clients protect their data and secure their networks.
of the fastest growing cybersecurity firms in the
If you are facing mandatory implementation
country. They are the only cybersecurity firm workregulations, or want to learn more about protecting
ing with the Department of Treasury to establish
your company from cyber risk, visit sera-brynn.com
cybersecurity guidelines for the financial services
or contact them directly at (757) 243-1257. ◆
industry, and are providing audit and advisory
New Name, Same Great Service—Towne Benefits
E
arlier this year, Towne’s
employee benefits division
changed its name from
TFA Benefits to Towne Benefits. Richard Herzberg,
president, is excited that this name change more
closely aligns the benefits company with the Towne
Family. “TowneBank and its affiliates are well
respected and have such great name recognition in
the marketplace. The name change is a very positive
one for us.”
The healthcare and benefits landscape is constantly changing, and individuals and businesses face
many difficult decisions regarding healthcare benefits,
costs, and compliance. “We’ve been serving this
market for nearly 30 years, offering superior benefit
design, time saving systems, and expert staff to
answer questions and provide support,” says Richard.
“As we look to the future, we’ll
continue to enhance our
services—providing the tools
and technologies needed in today’s complex benefit
environment.”
As a leading benefits provider in Virginia and
North Carolina, Towne Benefits provides customized solutions to employers, individuals, brokers
and the community. From group benefits and HR
services, to compliance and individual health insurance, Towne Benefits offers a comprehensive array of
products and solutions to help you stay ahead of the
curve. For more information, visit townebenefits.com
or call (757) 340-3873. ◆
Insurance products offered through Towne Benefits, a subsidiary
of TowneBank, are not a deposit, not FDIC-insured, and are not
guaranteed by TowneBank.
Protect Your ATM & Debit Card with Text & Phone Alerts!
T
owneBank is pleased to provide our
bank members with an important
service to identify and prevent fraudulent charges on your ATM and Debit
Card. Cardholders with a phone number on file
may receive phone calls regarding card activity.
Cardholders who provide a mobile number
with AT&T, Sprint, T-Mobile, or Verizon are also
eligible to receive Text Alerts, as these carriers
support this program at this time.
It’s important to note that in order to receive
text messages or phone calls regarding suspicious
activity on your ATM/Debit Card, we must have
a current phone or mobile number on file. Please
contact your hometown banker to verify that
we have your up-to-date contact information for
your TowneBank ATM or Debit Card. To find
your nearest hometown banker, visit us online at
townebank.com/locations.
How do fraud alerts work? Transactions may
trigger a text or phone alert if
they are unusual or atypical of
a cardholder’s normal spending
activity. When that occurs,
members will receive a text
message or a phone call with
the dollar amount and details.
What happens when you
text back? By responding
‘YES’ to an alert, you are
indicating that the transaction
is valid, and your account will
be unblocked, usually within
5-10 minutes. Once the validation is updated in our
fraud system, you can attempt the transaction again.
If you respond ‘NO’ to an alert, you are indicating that the transaction is unauthorized or fraudulent.
This response will block the transaction and suspend
your card for additional transactions. After responding ‘NO,’ you will receive contact information in
9
■
order to follow up with cardholder support.
How do I know if my telephone number is
on file? Any hometown banker would be happy
to verify what phone numbers are on file for your
ATM or Debit Card. (It’s important to note that
mobile phone numbers added to online banking
for login verification do not automatically carry
over to the profile used for alerts.) ◆
Golfers Tee
Platinum Sponsors
Clayco Inc
Claycorp.com • (312) 658-0747
Clayco is a full-service real estate, architecture,
engineering, design-build and construction firm that delivers clients around the world the
highest quality solutions. Clayco developed the award-winning Gateway Plaza in Richmond,
where TowneBank has its Richmond headquarters. Their innovative approach enables them
to build any project anywhere, and they’ve executed more than 350 iconic and complex
projects across the country.
CPG Inc. General Contractor
• (757) 488-7228
CPG Inc. has been in the construction business for more than 20
years. Their customer orientation has led them to become a leader in
architecture building construction, new building construction, and
steel building construction. CPG’s work can be seen all over Hampton Roads, including
TowneBank’s office in Great Bridge and the Harbour View Financial Center in Suffolk.
Dixon Hughes Goodman LLP
DHGllp.com • (757) 624-5100
Headquartered in Charlotte, NC, DHG ranks among the top
20 public accounting firms in the nation. With more than
2,000 professionals in 12 states, DHG combines deep experience with a strong commitment
to personal service. They are passionate about helping their clients succeed—and they do
so through a resourceful approach to solving problems, providing solutions and helping
their clients achieve their goals.
Endurance IT
Endurance-it.com • (757) 216-3671
Since 2008, Endurance IT has worked to help companies
meet their goals and grow their business. Headquartered in Virginia Beach, Endurance IT’s
primary focus is to assist companies in planning, building, and managing their network
infrastructure and application software to optimize business performance.
IES Commercial & Industrial
IESCI.net • (757) 424-5164
IES Commercial is a premier provider of electrical and communications
contracting solutions throughout the United States. The company designs,
installs and maintains electrical and low-voltage communications. IES provides services
that include designing, building and maintaining electrical, data communications and
utilities systems for commercial, industrial and residential customers. Headquartered in
Houston, IES has nine main offices, including one in Suffolk.
Sussex Development Corp.
sussexdevelopment.com • (757) 422-2400
Specializing in the development and construction of commercial and
industrial projects, Sussex Development guarantees quality from
concept to occupancy. Sussex has developed an unmatched reputation with projects that
include everything from healthcare centers to hotels to schools. Their spirit of excellence
extends to the community where they support programs to help youth and the military.
W.M. Jordan Company Inc.
wmjordan.com • (757) 596-6341
W.M. Jordan Company’s wealth of experience in the construction
industry enables them to provide effective building solutions to help clients meet their
goals. By focusing on each client and developing individualized solutions, the company has
grown to become one of the premier builders in the country. W.M. Jordan is also deeply
committed to the community—donating to over 200 charities each year.
Gold Sponsors
Silver Sponsors
Bakefresh Company LLC
Barnes, Brock, Cornwell & Painter
Thomas C. Broyles
Cherry Carpet and Flooring Inc.
Cypress Point Country Club
FIS Global
Grubb Printing & Stamp Co.
KPMG
Klett Consulting Group, Inc.
New Day Office Products & Furnishings
SafeGuard Business Systems
SIGNMedia
Sinnen-Green & Associates
Stealth Shredding Inc
Surf Rider Restaurants
Total Business Solutions
Tri-City Developers Inc.
Wilcox Savage
Williams Mullen
HOWARD HANNA
A 16-year Partnership (and Counting!)
H
oward Hanna Real Estate Services has served as lead sponsor
for the annual TowneBank Foundation Golf Tournament
from the very beginning. Their support and encouragement
have significantly contributed to the yearly success of the tournament.
Established in 1957 by Howard and Anne Freyvogel Hanna with a
single office, the family-owned and operated Howard Hanna Real Estate Services is now the third
largest real estate company in the country. Partnering with market leader William E. Wood and
Associates in 2014, Howard Hanna provides the finest in real estate, mortgage, title, and insurance
services throughout its 16 locations in southeast Virginia and North Carolina. The Hanna Team
is tremendously dedicated, supporting many causes, notably free medical care to children in the
communities they serve through the Howard Hanna Free Care Fund, which has donated more
than $12 million since 1988, including $80,000 to CHKD in 2015.
For years, Howard Hanna has sponsored the Nike Pro tent at the TowneBank tournament, and
provided golfers with complimentary ‘Bucks’ that can be used toward Nike merchandise of their
choice. Blake White of Endurance IT said, “The idea of an onsite pro shop is awesome—my guests
thought it was totally unique and a great addition to the tournament.”
Our deepest thanks to Howard Hanna Real Estate Services for their long partnership with the
TowneBank Foundation Golf Tournament! ◆
Special Events & Gift Sponsors
10
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Up for a Great Cause
At 16 Annual
Golf Tournament
F
th
or 16 years, golfers have
gathered to take part in the
TowneBank Foundation’s
Annual Golf Tournament, held at
the Riverfront Golf Club
in Suffolk, Virginia. It’s
always a special day for
golfing, philanthropy, and
connecting with friends.
The men and women who
come out for this annual
event know there is an
important purpose beyond
the camaraderie—and that
is raising funds for the
TowneBank Foundation.
This year’s tournament was extremely
successful, netting $137,500 and
bringing the 16-year total to more
than $1.5 million. Proceeds from
this fundraiser support the good work
provided by many local charities and
nonprofits.
Sunshine and
smiles greeted
guests on May 26 as
they checked in at
TowneBank’s Member
Service Center in
Suffolk. There was much to
enjoy throughout the day,
with a delicious picnic on the
veranda, cool refreshments
along the course, shopping
at the on-site Nike Pro
Shop sponsored by Howard
Hanna, and plenty of
giveaways from our
wonderful sponsors. The
closing reception included
a delicious dinner
and toasts to the top
foursomes in each flight.
Co-chairs John Fruit and Andy
Rivenbark worked with a group
of faithful volunteers to ensure
that the tournament went smoothly
for participants. “Every May, our
friends in the community dedicate a
day to support and enjoy this terrific
fundraiser for the Foundation,” says
John. “We are very fortunate to have
so many sponsors, members, and
11
■
volunteers return year
after year.”
“Our goal is to create
a memorable outing for
all of our guests, and
to raise a lot of funds
for the TowneBank
Foundation,” adds Andy.
“We were very excited
that, again this year, we
set a new record in
contributions!”
The Golf
Tournament is one of
two major fundraising
events held annually
to support the
philanthropic mission
of the TowneBank
Foundation. The other
is the Fall Extravaganza,
held each October. Funds
raised through these two
events support hundreds
of local charities who serve
critical needs throughout
the community. We extend
our heartfelt thanks to our golfing
friends, our enthusiastic volunteers, and
of course, our loyal sponsors. An event
of this caliber could not be presented
without all of your support! Be sure
to mark your calendars for next year’s
tournament, scheduled for May 18,
2017. ◆
B
One Family Committed to Building
Beautiful Communities
rothers John and Lucky Peterson know a thing
or two about homebuilding. You could say it
was in their blood. “We have pictures of us
as toddlers playing on a new home worksite,” laughs
John. Today, the duo is managing Terry-Peterson,
the homebuilding and development firm their father
John started in 1974, and expanded with Fred
Napolitano and Richard Olivieri in 1984.
After college and working outside Hampton
Roads, the brothers moved back to work with their
father. “We brought expertise from other businesses
when we started working in partnership with him
and Tuck Bowie, our president, who started with
Dad 22 years ago and is really responsible for much
of the company’s growth and success,” says John.
Although new homebuilding is the firm’s primary
business line, they also specialize in commercial
development, land development projects, and apartment complex construction. John says that deep
research is one factor that sets Terry-Peterson apart
from its competitors. “Dad was always studying
other builders and then integrating those ideas with
his own concepts,” says John. Instead of buying lots
from other developers, the firm “develops everything
from raw ground,” explains John. “We think about
how the land plan relates to the home design itself,
and then develop the individual homes and whole
neighborhood around the land plan. Not many
other builders take that kind of long-term, intensive
approach to home design and land planning.”
That kind of intentional, intensive approach
earned the firm awards from the National
Association of Home Builders and a Virginia Beach
City award for its Sajo Farm development. “We’re
especially proud of our work on the waterfront,
which minimizes impact, and retains the property’s
natural beauty and the ecosystem,” says John.
One of the firm’s most visible projects is the
redevelopment of the old Duck Inn off Shore Drive
in Virginia Beach. “We purchased the property in
A Hot Meal,
A New Pair of Shoes
Oasis Helps Those in Need
F
A second generation guides the building and design work
at Terry Peterson Companies–(l. to r.) John Peterson III,
Richard “Tuck” Bowie, and Lucky Peterson.
2005 with Napolitano Homes, and, with financing
from TowneBank, are working on a condo development project.” They just completed a shopping center
in the Hampton Roads Crossing mixed-use site, and
are finishing Sunfall at the Riverfront, a development
project on the Suffolk Riverfront in Harbour View.
The firm is active in the community, supporting
CHKD and the United Way. They also renovated
the teachers’ lounge at John Yeates Middle School
in Suffolk. “When a PTA member told us that the
lounge was in decrepit condition, we were happy to
marshal some contractors to renovate it. If anyone
deserves a nice place to relax during a stressful work
day, it’s middle school teachers!” laughs John.
Terry-Peterson first began its relationship with
TowneBank in 2006. “We needed to fund an office
building, and because it was an incredibly complex
project with tax credits, the larger national banks
weren’t flexible enough to meet our needs,” explains
John. “Towne was not only very accommodating, but
also creative in their solution. It was a very good start
to our relationship. It taught us the power of working
with a bank in tune with the local market.”
To view their new home communities across
Virginia Beach and Suffolk, visit terrypeterson.com. ◆
orty-five years ago, a few parishioners
started giving peanut butter sandwiches
to the homeless around St. Paul’s
Catholic Church in downtown Portsmouth.
Responding to the needs in their community,
five local Catholic parishes came together
to found Oasis Social Ministry. Initially,
the organization operated a food pantry to
distribute groceries to local families. By 1981,
a soup kitchen was added. Today, the ministry
operates out of a 15,000-square-foot building
on Williamsburg Avenue in Portsmouth,
providing not only food, but also clothing and
household items, housing and job assistance,
and clinic space.
Oasis Social Ministry provides nutritious and
delicious meals to those in need in Portsmouth.
Their new facility has enhanced opportunities to
accomplish their mission.
“Last year our soup kitchen served over
47,000 meals, and, together with our food
pantry, we provided over 207,000 meals to the
local community. And by the way, we serve
much more than soup!” says Jo-Anne Roisen,
Oasis executive director. “We offer delicious
and nourishing meals.” The number of people
Oasis has helped has doubled since 2010, and
many of those served are under the age of 18.
Tumbling Champions – Amazing Young Athletes
O
ne of the most popular events at the
Summer Olympics is the gymnastics
competition. You can be sure that the
young athletes at Ocean Tumblers Gymnastic
School are watching carefully to pick up some tips
they can apply to their own routines.
Ocean Tumblers got its start in
the early ’70s. Owner and president
Diane Berry has guided the company
since 1984 through tremendous
growth with two locations now in
Virginia Beach and Chesapeake.
More than 1,500 athletes come
each week to take part in classes
that range from tots to elite competitive teams.
Ocean Tumblers Gymnastics is identified as a
USA National Training Center.
“Our athletes compete at the
state, regional, national,
and international level,”
Diane said. “Our teams
consistently place in the top
three in Virginia, and we
have many athletes who have
reached level 10 in Nationals,
the highest level in the Junior Olympic program.”
The school’s goal is to encourage students to
have fun and enjoy the sport of gymnastics. “Our
motto is: ‘Teach children to succeed and it is a
lesson they learn for life,’” Diane said. “It’s about
so much more than gymnastics. These children
are driven to be the best they can be, not only in
sports, but also academically.”
Diane started out as a special education teacher
and wanted to learn more about gymnastics when
her daughter began classes. She especially enjoys
following students over the years. “When you are
a teacher in a classroom, you have students for
one year. With Ocean
Tumblers, I have
children as young as 18
months, and I am able
to be part of their life
till they reach age 18. I
get to be part of their
growth, helping build
character.” Some of the
athletes Diane has mentored over the
years are now bringing their children
to classes at Ocean Tumblers.
“People ask me if I’m going to
retire one day, but I don’t
know what else could make
me this happy,” Diane smiles.
Ocean Tumblers will soon
move to a new facility across
the street from their current
location in Chesapeake. “TowneBank
and especially Jerry Kent have been wonderful
partners on our project,” Diane said. “We had
thought of new construction, but then this
building became available. TowneBank made it
all possible, and, in the end, we will have about
30,000 square feet where every program will
have its own space and equipment.” For more
information, visit oceantumblers.com. ◆
12
■
Jo-Anne has worked with Oasis for 17
years, starting as kitchen manager and moving
up to executive director. She credits the
community with the success of Oasis. “Every
day when we open the doors, we know we can
keep them open because of the generosity of
the community. We are able to serve people
in need, let them know that their community
cares, and provide a place to go when they are
in crisis.”
Every Friday, Chef Grace Peart arrives in
the kitchen at Oasis ready to train a group
of recently incarcerated individuals in the
culinary arts. “It’s an 18-week course that
trains them to become cooks so they have
an opportunity to go out in the world and
get a job,” Jo-Anne says. “At the end of the
course, they have a graduation here. This is
Chef Grace’s fifth class, and it’s been a great
partnership.”
Oasis also partners with Portsmouth
Volunteers for the Homeless (PVH), which
is housed in the Oasis facility. PVH provides
sheltering for the homeless during cold weather
Continued on page 13
Singing and Playing
the Hits Raises Funds
for Local Temple
O
ur multi-talented president Morgan Davis
was a big hit in April during “Let’s Sing,”
a fundraiser at Temple Israel. Joel Rubin,
who co-produced the program with his wife Sara Jo,
knows Morgan’s talents at the piano very well. So
Joel handed him a challenge—perform at least one
number each from a host of Jewish songwriters and
performers … from Neil Sedaka, Barbra Streisand,
and Carole King, to Lesley Gore, Barry Mann, and
Billy Joel. Morgan Davis led the singing at the Temple Israel fundraiser—a tribute to Jewish songwriters and performers.
All 200 guests were given copies of the lyrics so
they could sing along. One by one, the table guests
gathered around Morgan to belt out the standards.
“Morgan was so wonderful and engaged with the
crowd,” says Sara Jo. “He knew the artists and the
songs like the back of his hand. The whole night was
a blast, and we made our fundraising goal.”
With a history that dates back to the end of World
War II, Temple Israel is located at 7255 Granby Street
in Norfolk. They are TowneBank members, and Joel
and Sara Jo have served in several leadership roles
with the temple. It was the perfect time to organize a
fundraiser combining their favorite passions!
The Temple Israel congregation is active in the
community with regular programs to feed the homeless, provide transportation for shut-ins, and reaching
out to those in need. They have a busy calendar that
includes services, socials, classes for all ages, and
many opportunities for friendship and fellowship.
For more information, visit templeisraelva.org. ◆
Oasis Helps Those in Need
Continued from page 12
and operates a year-round outreach service
center where clients can shower, do laundry,
receive mail, and meet with a case manager for
support in becoming self-sufficient.
TowneBank is a longtime supporter of
Oasis, providing Thanksgiving baskets, coats,
socks, gloves, and other supplies. “There has
never been a time when TowneBank hasn’t
responded with great generosity,” Jo-Anne says.
“I get to meet so many wonderful volunteers.
It’s sad and challenging to see the obstacles our
clients face, but at the same time, the services
we provide are very rewarding.” For more
information on how you can donate or lend
your support, visit oasissocialministry.org. ◆
Virginia Homeownership Month
D
id you know that June
Commissioners, was on hand for
is officially considered
the ceremony held at VHDA. She
to be Homeownership
was excited that Mary White, a
Month? Governor Terry
TowneBank
mortgage loan offiNMLS #512138
McAuliffe was in attencer and Gold Circle
dance at the Virginia
VHDA honoree was
Housing Development
also able to attend.
Authority (VHDA)
“Mary is a terrific loan
celebration on June 13
officer who provides
to recognize the role
exquisite service to her
that homeownership
members, and knows
plays in strengthening
the VHDA loan profamilies, stabilizing
grams extremely well,”
neighborhoods, and
said Sarah. “It was great
promoting economic
for all of us to hear firstopportunity.
time homebuyer, Santia
What started nation- (L. to r.) Mary White, TowneBank Mortgage Lender;
Nance, speak about the
Santia Nance, homebuyer; and Sarah Stedfast, NewTowne home-buying process
ally in 1995 as a weekMortgage venture president, are all smiles at the VHDA
long celebration grew
from a first-timer’s perHomeownership
Month celebration.
into a month-long awarespective, and to compliness program under President George W. Bush in
ment Mary on her kind and knowledgeable assis2002. The goal was to help more families achieve the
tance during the VHDA FHA loan process.” Santia
American Dream and to encourage all Americans to
was delighted to be a new homeowner—“Everyone
learn more about financial management and explore
went the extra mile to make homeownership a reality
homeownership opportunities in their communities.
for me!” (NMLS# 239330 Mary White)
The VHDA, in partnership with the Virginia
During the event in Richmond, Governor
Department of Housing and Community
McAuliffe presented VHDA with a certificate
Development, has been a leader in assisting
of recognition proclaiming June as Virginia
Virginians attain quality, affordable housing.
Homeownership Month. He was joined by many of
The VHDA also teaches free homebuyer classes,
Virginia’s housing partners, including lenders, homesupports housing counseling, and helps people with
builders, local governments, and nonprofits. “The
disabilities and the elderly make their homes more
Commonwealth provides many programs that help
livable. They also administer the federal Housing
our citizens achieve the goal of homeownership,” said
Choice Voucher and Housing Credit programs in
Governor McAuliffe, “and we know that safe and
Virginia. Since its founding in the early ’70s, VHDA
affordable housing is a key component for healthy
has committed financing for more than 182,000
communities.”
single family homes and 144,000 multifamily units.
Sarah Stedfast, venture president of NewTowne
For more information, visit vhda.com. ◆
Mortgage and vice chair of the VHDA Board of
Investing in the Communities We Serve
I
n 2013, Towne created a new division called
Public Finance and Community Investment
as a way to grow and expand the ways in
which we invest in our communities. The desire
to be a true community asset has always been
a guiding principle for TowneBank, and Anne
Conner was tapped to lead the new division.
Towne has made dramatic progress in achieving the goals set out for this division,
which is tasked with making equity
investments in affordable housing
projects, providing construction and
permanent financing for those projects, pursuing Affordable Housing
Program grants through the Federal
Home Loan Bank of
Atlanta, and establishing relationships
with Community
Development
Financial Institutions.
In the past three
years, over $28
million in equity
investments have
been made, and over $38 million in construction financing has been provided. Projects like
Catalina Crossing in Chesapeake (pictured above)
provides 124 affordable units for folks making 60
percent of area median income. These apartment
homes combine amenities like energy-efficient
appliances and open-concept floor plans, along
with a community clubhouse and a state-of-theart fitness center. More importantly, our friends
and neighbors in Chesapeake will benefit from
high quality, safe, affordable housing.
13
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We were also
delighted to recently
learn that Towne will
receive $1,500,000 in
Affordable Housing
Program grants
from the Federal
Home Loan Bank of Atlanta to
support three different projects
located across Hampton Roads. In
congratulating those institutions who
were awarded grants, Senator Mark
Warner said, “Affordable housing
is one of the bedrocks of economic
security and financial stability for
American families. These funds will provide
valuable resources for existing housing networks
in Virginia, which are already on the ground
working to provide individuals with a place to
live that is within their reach. This support will
help revitalize local neighborhoods, create jobs,
and encourage economic development within the
Commonwealth.”
We couldn’t agree more and are proud to play
our part in ensuring that everyone, regardless of
income, has a place to call “home sweet home.” ◆
PORTSMOUTH
SUFFOLK
I
Johnny Joannou
April 22, 1940 – May 6, 2016
T
he Towne Family was saddened by the
news that Johnny Joannou, a founding
director for TowneBank, passed away after
a battle with lung cancer. Johnny was born
in Brooklyn to Bessie and Tommy Joannou
who immigrated to the United States in the
1930s. His father was from Cyprus, and his
mother was from Greece. The family moved to
Portsmouth in 1945.
Johnny was a graduate of Woodrow Wilson
High School, Virginia Tech, and the T.C.
Williams School of Law at the University of
Richmond. He formed a close bond with his
city, opening a private law practice and serving
the citizens of Portsmouth in the Virginia
General Assembly for more than 30 years. He
was active in many civic organizations and was
a member of the Order of AHEPA and a 33rd
Degree Mason.
“As a founding director, Johnny played an
important role in helping us grow our market
presence in Portsmouth to what it is today,”
said Dawn Glynn, TowneBank president and
regional executive officer. “He loved to share
the Towne story with all of his friends and
professionals in Portsmouth. We will miss his
leadership in our community.”
Delegate Chris Jones said, “Johnny was a
man of great character. I trusted and respected
him deeply. His experience and understanding
of state government made him an invaluable
member of our House Appropriations
Committee.”
Johnny is survived by his wife of 49 years,
Chris Joannou, of Portsmouth, daughter Dr.
Stephanie Joannou Menefee, son-in-law Keith,
and granddaughter Athena. The Towne Family
expresses our condolences to the family on the loss
of Johnny Joannou, a true public servant. ◆
A TASTE OF EUROPE in Portsmouth
n the 1980s, Mike Simko was living in New
York City, working three restaurant jobs, and
dreaming of someday opening a restaurant
of his own. Today, Mike and his wife, Veronique,
are celebrating the 30th anniversary of their
restaurant, Café Europa, one of the most popular
fine dining venues in Hampton Roads. Dreams
really can come true!
Mike was a soccer star in his native
Czechoslovakia and learned to love the restaurant
business as a young man. He came to the U.S. to
visit his sister who owned a restaurant in New
York City. She and her husband later sold it and
opened the Monastery Restaurant in Norfolk.
“She was the only family I had in this country so
I would visit her often,” Mike said. “Virginia was
more like where I grew up in Slovakia and seemed
more European that New York City.” Mike’s sister
encouraged him to move to be near his family.
“In New York, many people have an apartment
upstairs and a business downstairs, and I liked
that idea. One day my sister called me in New
York and said a real estate friend had found a
building in downtown Portsmouth. She said she
Jenny Crofton Photography
Continued on page 15
D
Michael Fabrizio and his
is larger than Duke or Johns Hopkins’
partners are very sensitive not only
urology departments,” says Dr. Fabrizio.
to patients’ medical needs, but the
UVA has been previously recognized,
time and financial cost of accessing
via the physicians’ work at Sentara
healthcare. “Most patients have high
Norfolk General Hospital, as one of
deductible insurance plans with
the nation’s Top 50 Urology Programs
expensive co-pays, and small busiby U.S. News & World Report.
nesses are paying for their employees’
The practice’s main campus in
healthcare, so I want to honor that and
Virginia Beach has two 45,000-squareprovide the best possible care in the
foot, state-of-the-art buildings featurmost efficient and cost-effective way
ing a large physical therapy departpossible,” says Dr. Fabrizio.
ment, onsite lab and x-ray, urodynamDr. Fabrizio is CEO of Urology of
ics and ultrasound testing, Chesapeake
Virginia (UVA). Founded in the early
Regional ambulatory surgical center,
Dr. Michael Fabrizio
is CEO of Urology
1930s by Charles Devine Sr., MD, the
MRI & CT Diagnostics imaging
Associates of Virginia.
practice grew, and, after a series of
center, and The Paul F Schellhammer
mergers, became a fully independent
Cancer Center and the Devine-Jordan
practice in 2011. Today, it is a premiere national
Center for Reconstructive Surgery. “We provide one
center for genitourinary reconstruction and the area’s
campus where patients can get all of their urological
largest urology practice provider. The fully integrated
needs handled more efficiently and effectively than
practice offers diagnostic and treatment services for
through hospital-based care,” says practice COO
all urological specialties at six convenient locations.
Dana Adams.
The practice has more than 300 employees,
UVA has a large research program and is at the
including 33 physicians. “Our faculty of practitioners
forefront of cutting-edge clinical research. “We were
involved in FDA trials for robotic surgery and have
led trials for cancer drugs—including the first immunotherapy drug for the treatment of prostate cancer,”
notes Dr. Fabrizio. Many of UVA’s physicians serve
as faculty for Eastern Virginia Medical School and
Portsmouth First Citizen Lynn Wiggins
on national committees and boards with organizahas spent her lifetime working to make
tions such as the American Urological Association.
her city a better place to live.
As part of its dedication to stamping out prostate
Portsmouth Naval Shipyard Museum.
cancer, UVA participates in the national ZERO
She worked with the League for 50
Prostate Cancer Run/Walk. This year’s 5K event
years, serving as president, while
was held at the Norfolk Zoo. Proceeds from the race
raising three daughters. She also
were split between the national Zero Foundation and
served as president of the YMCA and
the Schellhammer Urological Research Foundation
chaired the administrative board of
(SURF), created in honor of UVA senior partner Dr.
Monumental United Methodist.
Paul Schellhammer. SURF funds urological research,
“Lynn’s selection as Portsmouth
resident training, and medical mission work.
First Citizen is well deserved,” said Dawn Glynn,
UVA has enjoyed a longtime relationship with
TowneBank president and regional executive
TowneBank senior vice president Michelle Butler
officer. “She served our city for over 50 years; all
and became a TowneBank member in 2010 when
while raising three talented daughters, and helppurchasing its first facility. “Towne helped us out
ing her husband, Ben, build his dental practice.
at a critical time as we became a fully independent
Everywhere you travel in Portsmouth, you can see
practice and also needed to meet payroll two weeks
organizations that have grown and benefited from
after opening,” says Dana. “We believe that our
Lynn’s leadership. She is someone who is commitindependent practice is the best way to serve patients,
ted to getting the job done and is a wonderful role
and TowneBank has been part of that equation.”
model for others.” ◆
To learn more about the practice or to schedule an
appointment, visit their website at urologyofva.net. ◆
r.
A Role Model for Community Service
ongratulations to Lynn
Wiggins who was honored
as Portsmouth’s First Citizen for
2015. Lynn has a long history of
community service, giving her time
to many organizations, including
the Portsmouth Historical Society,
Holiday House, the Red Cross,
the Virginia Sports Hall of Fame
and Museum, and the Portsmouth
Community Foundation.
A native of the Eastern Shore, Lynn graduated
from the University of Richmond, where she
met her husband, Ben Wiggins Jr., who was a
student at the Medical College of Virginia. After
three years in the Army Dental Corps, the couple
settled in Portsmouth, and Lynn started giving
back to her community. In 1966, she joined the
Portsmouth Service League and helped in their
efforts to establish the Children’s Museum of
Virginia, the Portsmouth Girls’ Club, and the
thought this location could work for me. In those
days there was no Internet, so I had to fly to
Virginia to check it out in person,” Mike smiled.
He fell in love with the building and the
location at 319 High Street. “The façade makes
it the most beautiful building on High Street, so
Leading the Way in High Impact Urology & Patient Care
Portsmouth First Citizen
C
Mike and Veronique Simko are celebrating 30 years
of success at their restaurant in the heart of Olde
Towne in Portsmouth—Café Europa.
14
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A TASTE OF EUROPE in Portsmouth
Continued from page 14
I decided to go for it. I hired a contractor to
build it, and traveled back and forth to New
York City during the two years it was under
construction. We opened in 1986.”
Veronique, who met Mike in New York
when they worked together at a French
restaurant, has been an important part of
Café Europa’s success. A native of France, she
serves as maître d’, greeting guests with her
enchanting accent. She also creates the mouthwatering desserts the restaurant serves daily.
Mike’s days and nights are hectic as he
serves as chef and co-owner. He eventually
built out the space above the restaurant,
creating an office and a New York-style flat
on the top floor, where he sometimes crashes
if he’s working late. The couple’s two children,
Natalie and Sebastian, have grown up in the
restaurant and worked at Café Europa.
As a longtime Portsmouth business owner,
Mike knew the story of TowneBank and was
impressed with how the bank helped out in
the community. “They would come into the
restaurant, enjoy a good meal, and say, ‘We’re
from TowneBank. If you ever need anything,
we’re here for you.’ So at some point it hit
me that these are people I can trust, people I
know. To some banks you are just a number,
but when you are dealing with someone in
your community, that’s a different thing. So I
told Veronique we had to go with TowneBank.
We’ve built a great relationship,” Mike said.
For more information and to see their
tempting menu, visit thecafeeuropa.com. ◆
What a Kick!
Trophy for Towne
As part of an ongoing series in TowneToday, the professionals located at Towne
Investment Group are pleased to provide informative articles on a variety of
investment topics. In this issue, Jim Camp discusses handling emotions when
investing in the market.
Jim Camp, Financial Advisor
Raymond James
Financial Services, Inc.
(757) 249-7608
Emotional Investing
E
motional Investing can take you off course. Everyone wants to “buy low and sell high,” but most investors do exactly the opposite
because investment decisions are often driven by emotion. Investors get excited and rush in when the market is rising and
everyone else is buying. Then they panic and rush out when everyone is selling.
Rather than reacting to the everyday ups and downs of the stock market, investors might be better served by adhering to the four
Principles of Prudent Investing:
1. Set clear, realistic, long-term goals.
2. Keep investing, regardless of market fluctuations.
3. Diversify–don’t put all of your eggs in one basket.
4. Select quality investments with professional advice.
Emotional investing can lead to long-term underperformance. When investors time their decisions poorly, their returns suffer. It
is important to remember the approach of “TIME IN” the market—not “TIMING” the market. Investors who pull their money out of
equities in volatile times may risk missing some of the stock market’s biggest gains. That’s because some of the market’s best days
have come right after periods of steep declines—when many market timers are still sitting on the sidelines.
As the table below shows, emotional reactions can cause investors to miss out on key days in the market and can have a significant negative impact on long-term results.
Missing the Best Days in the Market Substantially Reduced Returns
December 1994–
December 2014
S&P 500
Annualized Total Returns
Growth of
$10,000
All 5,036 trading days
Minus 10 best days
Minus 20 best days
Minus 30 best days
9.85%
6.10%
3.62%
1.49%
$65,464
$32,682
$20,364
$13,442
As of 12/31/2014. Source: Morningstar and Prudential Investments LLC, S&P 500 TR USD Index. This example is for
illustrative purposes only and is not indicative of the performance of any investment. It does not reflect the impact of taxes,
management fees, or sales charges. The S&P 500 is a weighted, unmanaged index composed of 500 stocks believed to be a broad
indicator of stock price movements. Investors cannot buy or invest directly in market indexes or averages. Past performance is no
guarantee of future results.
DOLLAR-COST AVER AGING CAN HELP
During market declines, heightened fear causes many investors to stop purchasing stocks for their portfolios. As a result, investors
who sit on the sidelines do not benefit from lower prices. Dollar-cost averaging is a time-tested strategy that can help smooth out
the effects of market volatility.
What is dollar-cost averaging? Dollar-cost averaging is the practice of putting the same amount of money in the same investment
option consistently, regardless of the market performance (price) of that investment. Dollar-cost averaging can be beneficial because
it allows you to automatically buy more shares when prices are lower and fewer shares when prices are higher. Over time, this tends
to reduce the average cost of the shares you purchase.
Total
invested
$5,000
Average
share price
$10.00
Total shares
purchased
500
Portfolio
value on
May 15
$6,000
Investor A invested $5,000 on January 15 when the share
price was $10.00. He purchased 500 shares. On May 15,
when the share price was $12.00, his portfolio was valued
at $6,000.
Total
invested
$5,000
Average
share price
$9.15
Total shares
purchased
546.4
Portfolio
value on
May 15
$6,557
Investor B used dollar-cost averaging to invest $1,000 per
month over five months. She purchased 546.4 shares at
an average price of only $9.15. On May 15, when the share
price was $12.00, her portfolio was valued at approximately
$6,557—9% higher than Investor A.
How did this work? It’s simple: Investor A’s price was set on January 15, when he purchased 500 shares at $10.00 per share. But
because Investor B was buying over the course of five months (and share prices go up and down over time), she was able to purchase
more shares when the investment was priced lower—and fewer shares when the price was higher.
IMPORTANT CONSIDER ATIONS FOR DOLLAR-COST AVER AGING
Dollar-cost averaging can be an effective “automatic investment strategy,” especially for those who find it challenging to save
consistently over time or who tend to make emotional decisions about investing.
■■ Dollar-cost averaging and other periodic investment plans do not guarantee a profit and do not protect against loss in declining
markets.
■■ Dollar-cost averaging involves continuous investment in securities, regardless of fluctuating price levels of such securities. You
should consider your financial ability to continue your purchases through periods of low price levels.
■■ In “up” markets: When you use dollar-cost averaging, if the prices of the investments you’ve chosen go up, the value of your
account should grow, since you purchased more shares when prices were lower.
■■ In “down” markets: Dollar-cost averaging can be a valuable tool, because the lower prices give you the opportunity to buy more
shares—at “sale” prices.
When you establish an investment strategy, it’s important that you make sure your portfolio stays consistent with your goals and
risk tolerance over time. That’s because some asset classes may outperform, while others underperform, causing portfolios to stray
from their original allocations. Following the 4 Principles of Prudent Investing is a way to keep your strategy in focus and on track. If
you’d like to learn more about this topic, please contact Jim Camp (757) 249-7608 or any of our other financial advisors. They would
be happy to assist you. ◆
■■
C
ongratulations to the Towne for Life team
for their first place win in the Hampton
Roads Chamber of Commerce Corporate
Kickball Challenge. HRCC hosted the event at
the Princess Anne Sport Complex to create a fun
networking and team-building event. It was a tough,
but friendly competition among local businesses.
Towne does not have an “official” kickball team
(yet!) and simply asked for employees to join in the
fun. Quite a few folks stepped forward and quickly
put together a team just for this tournament. To
everyone’s amazement and excitement, Team Towne
prevailed, taking home the Winner’s Trophy. The
team played five games in four hours, and thanks to
excellent base running, bunting, and kicking, Towne
soared past Chantel Ray Real Estate, then Buffalo
Wild Wings, and finally CBRE for the championship. It just goes to show that Towne for Life really is
getting lots of bankers in great shape! ◆
Investing involves risk; investors may incur a profit or a loss regardless of the strategy or strategies employed. Every investor’s situation
is unique; you should consider your investment goals, risk tolerance, and time horizon before making any investment or investment
decision. Prior to making an investment decision, please consult with your financial advisor about your individual situation.
Portions of this material prepared by Raymond James for use by its financial advisors. Securities are offered through Raymond James
Financial Services Inc., member FINRA/SIPC, and are: NOT insured by FDIC or any governmental agency, NOT guaranteed by
TowneBank, NOT deposits of TowneBank, and are subject to risk and may lose value. Towne Investment Group, Towne Wealth
Management and TowneBank are independent of Raymond James. 5806 Harbour View Boulevard, Suite 202, Suffolk, VA 23435
15
■
Holiday Entertaining Tips to Keep You Safe
T
he most wonderful time of the year is
coming up soon, and your friends at
Towne Insurance have some good advice on
how to have a safe and happy holiday. In addition
to planning delicious appetizers, sparkling
beverages, and festive décor, every organizer
should take steps to lessen the likelihood of
accidents or injuries. So whether you are planning
a large holiday party or a lavish corporate affair,
be sure to consider the following tips:
Hire Reputable Vendors
Obtain signed contracts and ensure that
vendors are licensed and bonded.
■■ Make sure vendors are adequately supervised
and share your expectations with them.
■■
Carefully Consider
Activity Choices
Obtain proper permits to avoid the risk of
fines or having your event closed early.
■■ Have basic first-aid equipment on hand to
treat minor injuries.
■■ Ensure activities are allowed by your locality.
■■
Be Smart when Serving Alcohol
Designate or hire a responsible bartender to
monitor alcohol consumption.
■■ Consider offering alternate transportation for
guests.
■■ Never serve alcohol to minors.
■■
Make Parking Part of the Plan
Determine if any zoning restrictions are in
place and obtain permits if needed.
■■ Alert your community association and your
neighbors if guests plan to park on the street.
■■ For large events, consider offering valet
parking or a designated lot with transportation
to the event.
■■
TowneBank has
four-legged fans
too! This cute
puppy enjoys a
ride in a Towne
tote bag.
Minimize Slipping Hazards
Ensure all walkways and stairs are clear of
obstacles.
■■ Maintain adequate lighting.
■■
Additional Safety Measures
Block off any part of your home you consider
private.
■■ Move fragile items out of high-traffic areas,
and securely lock up valuables or any
dangerous items.
■■ If small children are present, make sure they
are monitored, especially around lakes, pools,
whirlpools or other water features.
■■ Pets and parties don’t always go hand-in hand.
Consider providing your furry friends with a
quiet area away from all the activity.
Most of all, enjoy the season with family and
friends! Towne Insurance stands ready to assist
you at the holidays and throughout the year.
Feel free to visit TowneInsurance.com or call
(757) 468-6100. ◆
■■
Portions of this material provided by insurance carriers for educational and
marketing purposes. Insurance products offered through Towne Insurance,
a subsidiary of TowneBank, are not a deposit, not FDIC-Insured, and are
not guaranteed by TowneBank.
TOWNEBANK
SENIOR PARTNERS
TRAVEL CALENDAR
2016–2017
Sands Hotel & Casino
NOVEMBER 27–29
Tony Orlando Christmas Show, Touring & Shopping
Bethlehem, Pa – $465 per person
New York City
DECEMBER 6–9
2 Broadway Shows, Radio City, Macy’s,
World Yacht Dinner Cruise, New York Hilton
$1,960 per person (double)
2017 TRAVEL
“The Million Dollar Quartet”
Music of Elvis, Johnny Cash, Carl Perkins
& Jerry Lee Lewis
FEBRUARY 22
Riverside Dinner Theatre,
Fredericksburg – $108 per person
Harrington Raceway & Casino
MARCH 22–24
$30 free play at Harrington, $100 free play at Dover,
plus 2 breakfast buffets and 1 festival buffet
Dover Downs Hotel & Casino
$279 per person (double)
“Saturday Night Fever the Musical”
APRIL 5
Riverside Dinner Theatre, Fredericksburg
$113 per person
Take Time to Evaluate Your Medicare Coverage
D
id you know that Medicare’s Annual Open
Enrollment is from October 15 through
December 7? During this time, Medicare participants can make coverage changes that will go into
effect on January 1, 2017. So now is a good time to
evaluate your coverage. Remember, if you are pleased
with what you have, you don’t need to do anything.
When we work with our clients, we recommend
that they review the following questions:
1. How is your health?
2. Are you satisfied with your coverage?
3. Is your current coverage fitting your budget?
4. Are you taking new medications that you weren’t taking last year?
5. Are you able to access your physicians?
6. Are benefits like dental, vision or hearing important to you?
During Annual Open Enrollment, beneficiaries
may change their Medicare Prescription Drug
plans or their Medicare Advantage plans. A person
W
who has Original
Medicare and a
Medicare Supplement
may transition to a
Medicare Advantage
plan. And those with
Advantage plans may
apply for a Medicare
Supplement and
Prescription Drug
coverage. Everyone has options.
If you want to discuss or review your alternatives,
call or email the person who helped you set up your
coverage. If you’re not working with a particular
broker, Towne Benefits would be pleased to help.
Contact Steve Frazier, Benefits Specialist, by phone
at (757) 249-5481, or by email at stevefrazier@
townebenefits.com. ◆
Insurance products offered through Towne Benefits, a subsidiary
of TowneBank, are not a deposit, not FDIC-insured, and are not
guaranteed by TowneBank.
Virginia International Tattoo
APRIL 28
Norfolk Scope, Dinner at
Town Point Club–7:30 pm Show
$83 per person
Tennessee Music and More,
the Soundtrack of America
APRIL 30—MAY 5
Includes Knoxville, Nashville, Pigeon Forge
$2,130 per person (double)
A Day in the Life of James Monroe &
Thomas Jefferson
MAY 17
7 Nights Kings Wharf–Bermuda Cruise
MAY 28—JUNE 4
Celebrity Summit – Departing from Cape
Liberty, NJ – Special offers/promotions
may be available at booking
“Jonah”
JUNE 14–16
sight & Sound Theatre, Lancaster, PA
Coastal Elegance & History
Christ Church, Tides Inn,
Dog & Oyster Winery
JUNE 28
Fredericksburg Trolley Tour
JULY 26
Riverside Dinner Theatre, Dinner in Historic Downtown
Brandywine Valley – The Hotel DuPont
& DuPont Chateaus
SEPTEMBER 8–10
Yergey Appointed
e are pleased to
should be a smooth one as
announce that Robert
he follows in the footsteps of
Director of IIAV
“Bob” Yergey, president of
Jim Bradner, a fellow Towne
Yergey Insurance, a Towne Insurance
Family member who just completed a
Agency, has been appointed state
six-year term as national director.
national director of the Independent
Bob is well suited to this role,
Insurance Agents of Virginia (IIAV).
having been active at the local, state,
Bob has been an insurance agent for
and national levels of the association,
more than 23 years, and his agency
and holding executive level positions
joined Towne Insurance in 2013.
including IIAV president and chairAs part of the nation’s oldest and
man. He is also a recipient of the
largest association of independent insurance
Agent of the Year award, which is the highest
agents, the IIAV represents a network of more
honor bestowed by the IIAV. A graduate of West
than 7,000 agents and agency employees in the
Virginia University, Bob also volunteers his time
Commonwealth of Virginia. Bob’s transition
in the community. ◆
16
■
Includes Nemours, Hagley Mansion,
Longwood Gardens & Chaddsford Winery
$738 per person (double)
Fall Foliage Michigan –
Grand Hotel, Mackinac Island
OCTOBER 1–8
$2,050 per person (double)
Virginia Museum of Fine Arts
Faberge Eggs, John Marshall Hotel, New Kent Winery
NOVEMBER 14
New York City
DECEMBER 5–8
$2,060 per person (double)
Holiday Dinner Downtown &
Lights Tour by Trolley
DECEMBER 14
Richmond
For reservations or more information,
please call Carol Hernandez at (757) 638-6797.
Cruising, Touring, Exploring
Join Our Senior Partners
Bob and Michele Graupmann
enjoying dinner onboard the
Anthem of the Seas.
F
Nancy
Strange met
comedian Steve Caouette,
a popular entertainer,
during the cruise.
rom a Caribbean cruise
to a tour of Cape
Cod, it’s obvious that
TowneBank’s Senior Partners don’t
stay home much. The year started with
a 12-night cruise to the sunny Caribbean—a great way
to escape the cold weather. The cruisers spent their
time aboard the Anthem of the Seas, the newest ship
in the Royal Caribbean Fleet. Stops included
Haiti, San Juan, St. Maarten, Martinique,
Barbados, Saint Kitts, and Nevis. Take a look
at the photos and you can see what a great
time they had—both on land and sea.
Next up was a trip to Lancaster,
Pennsylvania, a popular outing that many
seniors enjoy over and over again. They
toured the Hershey
Museum with a stop at
Chocolate World (yum!),
visited the Amish
Country for shopping
and dining, then took in
a brand new production
of Samson at the Sight &
Sound Theatre.
In June, the group
traveled to Cape Cod.
This adventure included a
visit to Newport, Rhode
Island, home to beautiful
historic homes including the
Breakers Mansion. In Cape
Cod, they visited Hyannis
Port with a stop at the John
F. Kennedy Memorial and
Museum and the Korean War
Memorial. A tour of the island
of Martha’s Vineyard ended with a delicious dinner. And there
was time for a visit to the Cape Cod National Seashore, Cape
Cod Lighthouse, and Chatham Lighthouse.
Whether you enjoy a
quick one-day trip or a
longer getaway, Carol
Hernandez, Senior
Partner coordinator,
has a space for you.
Upcoming trips are
highlighted in the
calendar. If you are
not yet a TowneBank
Senior Partner member,
now’s the time to join
the fun! Simply call
or visit a TowneBank
office to learn how you
can become a part of this
unique program, which
includes a great checking
and savings account, free
checks, a variety of free and
no-fee services, plus banking
benefits for your children
and grandchildren. ◆
(L. to r.) Daniele Spach, Mary Jane
McCarthy (seated), Maria Toneatto, and
Elizabeth Spach at the Kennedy Center
where they saw “Phantom of the Opera.”
(Left) Victor, Evelyn, and
Steven Goodman, and (right)
Jacqueline Duncan and Lula
Bell Harksen all had a great
time cruising the Caribbean.
Members of the International Tattoo visit
with Peg Hartman and Bernie Hogan.
While in Lancaster,
the Senior Partners
celebrated Ercell
Jackson’s 95th birthday.
(Above) Gloria
Watkins touring
Cape Cod. (Below)
Ginny Collins and
Linda Thompson at
the JFK Museum in
Hyannis Port.
(Right) Vicki and William
Gallant returning from a
walk on the beach.
17
■
Reaching Out
To Teach
and Mentor
PROMOTIONS
✰✰ BRITTANY ADAMS, Account Mgr., Insurance
✰✰ PAYTON ADAMS, IT Business Analyst, Mortgage
✰✰ ELEANOR ALLEN, AVP, Personal Lines, Insurance
✰✰ HANNAH ANGLES, Member Service Rep./Vault, New Town
✰✰ SUSAN ATKINS, AVP, Senior Relationship Specialist,
Chesapeake Commercial
✰✰ TESS BAKER, Small Business Underwriter
✰✰ MICHAEL BAKER, Database Administrator/Technology
Services Officer
✰✰ CAMERON BOONE, Branch Operations Mgr., York
✰✰ JOHNATHAN BOOTH, Treasury Services Support Rep.
✰✰ NANCY CANNON, EVP, Mortgage
✰✰ STEPHANIE CARTER, Mortgage Loan Coordinator
✰✰ TERI CONKLIN, VP, Training & Support Mgr., Mortgage
✰✰ ETHAN DAVIDHIZAR, Computer Operator
✰✰ SHAUN DEBNATH, Systems Engineer/Technology Services
Officer
✰✰ KATHERINE DENNIS, Consumer Loan Processing
Specialist
✰✰ JESSICA DENNY, AVP, Treasury & Merchant Sales
✰✰ JOANNA DESALVO, SVP, Human Resources, Towne
Financial Services Group
✰✰ JOSEPH DUSEWICZ, AVP, Branch Manager, Oyster Point
✰✰ SAMUEL EDWARDS, Mortgage Loan Closer
✰✰ JAMES FUQUA III, EVP, Marketing Manager, Insurance
✰✰ BENJAMIN GILLIAM, Financial Analyst, Insurance
✰✰ MELINDA GODFREY, Account Mgr., Insurance
✰✰ MARGARET GRANT, VP, Quality Assurance, Mortgage
✰✰ BLAKE HADLEY, Account Executive, Towne Benefits
✰✰ SHELBY HIRSCHFELD, AVP, Loan Processing & Support
✰✰ STACIE HOGAN, AVP, HRIS Administrator
✰✰ ERIK HOLLEY, Mortgage Loan Officer
✰✰ MARK HORTON, AVP, Insurance
✰✰ JOSEPH JOHANN, SVP, Information Security
✰✰ MARTHA JOHNSON, AVP, Commercial Lines Office Mgr.,
Insurance
✰✰ VERNON JOHNSON, Systems Administrator, Technology
✰✰ CINDY KEMPH, AVP, Accounting Team Leader, Insurance
✰✰ JOHN KING SR., AVP, Systems Support Analyst, Mortgage
✰✰ NICOLE KITTRELL, Loan Accounting Rep.
✰✰ GHISLAINE LAMBERT, AVP, Senior Risk Management,
Insurance
✰✰ ROBERT LAMM, EVP, Regional Sales Mgr., Mortgage
✰✰ LADA LEFFLER, AVP, Controller, Insurance
✰✰ LAURA LEWIN, AVP, Treasury & Merchant Sales
✰✰ANTHONY MAIER, Systems Administrator, Technology
✰✰ KRISTIN MARTINEZ, Client Services Mgr., Towne Benefits
✰✰ MICHELLE McHUGH, Indirect Credit Funder, Indirect
The Towne Family volunteered to help at JA Day at
Norview Elementary School.
T
owne Family members were all over town
for several outreach events in area schools.
Teach Children to Save (TCTS) is an annual
program sponsored by the American Bankers
Association. This year, Towne joined more than
760 banks and 13,000 bankers across the nation to
participate in TCTS, reaching nearly half a million
students altogether.
In schools
from Richmond
to Portsmouth to
the Outer Banks,
TowneBankers visited
17 schools and taught
classes for more than
2,800 students. That’s
an increase of 800
students over last
year’s efforts. Through interactive classroom activities,
bankers teach students the fundamentals of financial
literacy through age-specific examples and scenarios.
The lessons cover the basics of saving, as well as how
to create a simple budget and distinguish needs from
wants.
TowneBank was also pleased to support JA
Day. Sponsored by Junior Achievement of Greater
Hampton Roads, the goal was to reach out to
elementary schools over a one-week period. It was
Teaching Children to
Save—(Above) Marva
Harrell at Kempsville
Elementary School in
Virginia Beach, and
(left) Jennifer Edwards at
Simonsdale Elementary
School in Portsmouth.
a huge regional success
with 233 volunteers reaching 4,360 students in 222
classrooms. TowneBank sent 16 enthusiastic bankers
to Norview Elementary School in Norfolk.
Junior Achievement is the nation’s largest organization dedicated to giving young people the knowledge and skills they need to plan for their future, and
to make smart academic and economic choices.
Thanks to everyone who volunteered for these
programs. Because of you, young people in our area
have a brighter financial future! ◆
Lending
✰✰ MARIA MERILIC, Consumer Loan Processing Specialist
✰✰ KATHY MISTERKA, AVP, Senior Account Mgr., Insurance
✰✰ JUDY MITCHELL, Loan Accounting Officer, Team Leader
✰✰AMBER MORGAN, AVP, Facilities
✰✰ C. ROSS MORGAN, EVP, Senior Lending Officer,
Chesapeake Commercial
✰✰ T. JAMES MORGAN, VP, Insurance
✰✰ BRIDGET MURRAY, Loan Accounting Officer
✰✰ LORA NEAL, VP, Treasury and Merchant Sales
✰✰ GRETCHEN NEILD, VP, Senior Treasury Accountant
✰✰ COURTLAND PARNELL, Mortgage Loan Officer
✰✰ DENNIS PEDERSEN, VP, Mort Second Mktg Exec
✰✰ JASON PHELPS, AVP, Commercial Portfolio Mgr.,
Chesapeake
✰✰ JOSEPH PINOTTI, Commercial Credit Analyst Officer
✰✰ DAWN PROVOST, VP, Branch Manager, Portsmouth Blvd
✰✰ KIMBERLEY RITTER, EVP, Director of Human Resources
✰✰ SUSAN ROWE, EVP, Treasury Services Mgr.
✰✰ DEBRA SAMUEL, Exec. Assistant, Insurance
✰✰ SHIRLEY SASSER, Senior EVP, Corporate Sales Director,
Mortgage
✰✰ SHERRY SAVAGE, SVP, Electronic Banking Mgr.
✰✰ KATELYN SHANNON, Loan Accounting Rep.
✰✰ HILLARY SMITH, Relationship Specialist Officer,
Greenbrier
✰✰ NATHANIEL SMITH, VP, Mortgage Sales Mgr.
✰✰ TONYA SNYDER, Technology Implementation Mgr.,
Towne Benefits
✰✰ SHANNON SPRINGER, SVP, Mortgage
✰✰ANA STALLINGS, Assistant Account Mgr., Insurance
✰✰ MIRIAM STRICK, Client Services Specialist, Towne Benefits
✰✰ LINDA SULLIVAN, AVP, Real Estate Finance
✰✰ SARA SZYMANSKI, Relationship Specialist Officer,
Harbour View
✰✰ WANDA TORO, AVP, EPIC Analyst, Insurance
✰✰ SABRINA (BRIE) TUCKER, VP, Loan Processing Mgr.
✰✰ STEPHEN WEBB, VP, Commercial Portfolio Mgr., Richmond
✰✰ KIMBERLY WERTH, AVP, IT Business Analyst, Mortgage
✰✰ WILLIAM WEST III, SVP, Mortgage Sales Mgr.
✰✰ LISA WHALEN, Loan Servicing Officer, Indirect Lending
✰✰ JENNIFER WHITE, AVP, Operations & Funding Mgr.,
Indirect Lending
✰✰ D’LAWRENCE WHITE, Member Service Rep., Ghent
✰✰ PATRICIA WHITMORE, AVP, Senior Risk Management,
Insurance
✰✰ LINDA WILLIAMS, AVP, Branch Operations Mgr., Hampton
✰✰ TRACY WOLINSKI, AVP, Branch Mgr., Azalea
✰✰ MARCIA WOOD, AVP, Personal Lines, Insurance
✰✰ NATHAN WOODARD, Account & Sales Operations Admin.,
Insurance
✰✰ KRISTINA WOODWORTH, Member Service Rep./Vault,
Oyster Point
✰✰ KELLI WRIGHT, Credit Support Officer
✰✰ JEFFREY YOUNKINS, Member Service Spec., Churchland
✰✰ LISA ZELINSKY, AVP, Branch Operations Mgr., New Town
Towne
Family
Gathering–
Familiar Faces
plus New
Friends
I
t was a sultry afternoon in
mid-July, but that didn’t
stop hundreds of Towne
employees and their families
from enjoying a great time
at the annual Towne Family
outing. As guests arrived, they
brought with them donations
of pet supplies to distribute to area
animal shelters. Large bags of dog food,
kitty litter, treats, and toys were gathered to share
with our region’s furry friends.
Held on the Member Service Campus
in Suffolk, there were activities for every age
group—a rock wall for the brave, a mechanical
bull that didn’t look too fearsome, face painting,
and balloons twisted
into all sorts of animals.
And of course, lots of
good food—barbecue,
hot dogs, chicken, and
loads of side dishes. No
picnic would be complete without cotton
candy and snow cones,
and there were plenty
of sticky and colorful
faces attesting to their
“yumminess!”
18
■
From the smiles and
laughter, the event was a
great success. The Towne
Family has grown to over
2,000 employees, and this
was the first opportunity for
many of our Monarch employees to meet their counterparts
and make new
friends. Many
Richmond and
North Carolina
family members
also made the
trip just to join in
the festivities.
This event was wonderfully organized by
volunteers and the Towne Employee Club. The
Employee Club is funded by employees who
make a small payroll donation each paycheck.
In turn, these funds are used to create employee
goodwill across the company by sending small
gifts for births and weddings and flowers for
illnesses or a family passing. Those small tokens
of thoughtfulness go a long way!
Thanks to all the family members who came
out for the day’s activities, and an extra-big hug
for all the Employee Club members who made
this event possible! ◆
TowneBank’s Annual Shareholder Meeting
A Time for Friendships & Relationships
E
very May, TowneBank friends, family
members, and shareholders look forward
to the bank’s Annual Meeting, which is
filled with photos, anecdotes, performance
highlights, and exciting plans for the future.
Chairman and CEO Bob Aston spoke to the
group of close to a thousand, giving a touching and
informative overview of Towne’s history. He spoke
about the bank’s culture and vision, noting, “The
essence of true leadership is rooted in humility and
the ability to develop followership by engaging the
hearts and minds of those around you.” Indeed, the
hearts of shareholders and
employees are intertwined
with Towne Family values,
and the results speak to that
loyalty.
Addressing 2015’s financial
performance, Bob reported
that total assets grew 26%,
and that net income at yearend was $62 million, a 48%
increase from 2014. When
Towne welcomed Franklin
Financial in the first quarter
of 2015, the bank was able to
expand to Richmond with
eight new offices. Members in
that market were quickly able
to see how Towne, “A Frankly
Different Kind of Bank,” is
committed to making a
difference in all the communities we serve.
The news that took center stage at this
annual meeting
was the signing of
a merger agreement
with Monarch
Bank, which
officially joined
the Towne Family
on June 24, 2016.
Together with the
assets, members,
and shareholders
of Monarch, your
hometown bank
now ranks No. 1 in deposit market share in the
Hampton Roads’ MSA, and has total assets of $7.9
billion.
“It was a terrific year for our loyal shareholders,
our dedicated team members, and the highly
supportive communities we serve,” Bob said. “Our
16th consecutive year of record earnings stands in
tribute to our mission to serve others and enrich lives,
while we continue to build a great community asset.”
After his remarks, Bob introduced the always
popular shareholder video, which focused on organizations that serve critical needs in our community.
This year, the video highlighted Habitat for Humanity,
An Achievable Dream,
FeedMore in Richmond, and
St. Mary’s Home for Disabled
Children. Judge Richard Bray
narrated the video and said,
“The shareholders understand
that a community bank like
TowneBank is something they
can be very proud to be associated with. It’s a commitment
that’s lived out by the family
of this bank every single day.”
The meeting
adjourned to a
delicious luncheon,
where family
members mixed
and mingled with
fellow shareholders.
In the hallway,
beautiful photos of
the bank’s outreach
in the community
also told the story
of Towne’s culture
of caring. Town E.
Bear was on hand
for the festivities,
sharing hugs and
posing for photos.
It was another successful year, with
smiles all around! ◆
19
■
Towne Receives
Coveted Honor
Fourth Year in a Row!
T
owneBank was one of only 18 U.S.
banking institutions named to the
2015 KBW Honor Roll of superior
performers. KBW, an investment bank and
broker-dealer specializing in the financial
services sector, screened nearly 400 companies
and named just 18 to the honor roll, down
from 25 last year.
Honor Roll winners are publicly-traded
banking institutions with more than $500
million in total assets that meet the following
three conditions:
■■ No annual loss reported in net income per
share before extraordinary items over the
past 10 years,
■■ 2015 annual reported net income per share
before extraordinary items equal to or
greater than peak net income per share
over the past 10 years, and
■■ Consecutive increases in net income per
share before extraordinary items since 2010.
In stock performance, Honor Roll companies
significantly outperformed the banking
industry between 2010 and 2015. Honor
Roll banks also have better-than-industry
performance ratios and growth rates compared
to the publicly traded universe with total
assets over $500 million.
“The past 10 years have been one of the
most challenging decades in the history of U.S.
banking,” noted Fred Cannon, KBW director
of Research. “The Bank Honor Roll allows
KBW to recognize banking companies that
have differentiated themselves from their peers
and succeeded during these volatile times
while simultaneously positioning themselves
for further growth.”
“We are honored to be recognized once
again with this prestigious award,” said Bob
Aston, TowneBank chairman and CEO. “We
are so appreciative of our member’s loyalty and
support, which has contributed to our strong
financial performance.” ◆
WHEN IT COMES TO CARING –
TowneBank & BHHS Towne Realty Take the Lead
S
eptember 9 was all
about caring at
TowneBank and
Berkshire Hathaway
HomeServices Towne
Realty. The Towne
Family came together
to give their time and
talents to nonprofits
in the communities
where they work and live.
Local charities for Towne included
Children’s Harbor, Ida Barbour Early
Learning Center, Meals on Wheels, the
Beach Food Pantry, and the SPCA of
Northeastern North Carolina.
BHHS sales associates and staff worked
at Girls on the Run, Susan G. Komen,
Oasis Social Ministry, and the Housing
Partnership of Williamsburg. Sales associates and staff also contributed to an onsite
blood drive by the American Red Cross.
MEMBER
EQUAL HOUSING
LENDER
FDIC
TowneBank is an
Equal Opportunity Employer
From landscaping and
painting, to stocking shelves and
serving lunch, to walking dogs
and petting cats, to organizing
information packets, and filing—
no job was too big or too small
for the Towne and BHHS crews!
Wearing T-shirts that proclaimed
“Caring around Towne” and
“Going to Towne,” the teams
worked tirelessly throughout the
day. And in the end, the organizations they helped were sparkling
clean, organized, and full of gratitude!
The United Way Day of Caring is
celebrating 25 years of making a difference
in Hampton Roads and beyond. It is a
wonderful demonstration of how people
working together for the common good can
accomplish great things.
Thanks to everyone who turned
out to show the caring spirit that is
all around Towne! ◆
townebank.com
20
■
10%
TOTAL RECOVERED FIBER
ALL POST CONSUMER FIBER
SUSTAINABLE
FORESTRY
INITIATIVE
EQUAL HOUSING
OPPORTUNITY