TowneBank (TOWN): Business Model Canvas [Dec-2025 Updated]

You're digging into TowneBank's operating blueprint right after their major 2025 expansion-the acquisitions of Old Point Financial and Village Bank-which is definitely the headline driving their balance sheet to $19.68 billion in assets by September 30, 2025. Honestly, what makes this interesting isn't just the size, but how they plan to stitch together that growth with their core value prop: offering personalized, local decision-making alongside a full suite of affiliated services like insurance and wealth management, which feeds their fee income alongside the core Net Interest Income of $146.95 million in Q3 2025. If you want to see the mechanics behind this rapid scaling-from their key activities like integration to their cost structure-the full Business Model Canvas below lays out exactly how TowneBank plans to manage this new scale.

TowneBank (TOWN) - Canvas Business Model: Key Partnerships

You're looking at the relationships TowneBank (TOWN) relies on to execute its strategy, especially after a busy 2025 of expansion. These partnerships are critical for scaling operations and cross-selling the full suite of financial services.

Strategic Acquisitions: Old Point Financial and Village Bank

TowneBank (TOWN) cemented its regional presence through two significant 2025 acquisitions. The purchase of Village Bank and Trust Financial Corp. was completed on April 1, 2025, for $120 million. This deal added $576.51 million in loans and $637.49 million in deposits. Following that, TowneBank agreed to acquire Old Point Financial Corporation for approximately $203 million, with an expected close in the second half of 2025. Old Point brings 13 branches to TowneBank's existing 62, enhancing its footprint in the Hampton Roads MSA.

Pro forma, based on December 31, 2024, data, the combined entity is projected to hold total assets of $19.5 billion, loans of $13.1 billion, and deposits of $16.3 billion. TowneBank reported total assets of $17.25 billion at year-end 2024, growing to $19.68 billion as of September 30, 2025. The Old Point deal is expected to be approximately 10% accretive to earnings per share once cost savings are fully phased in, with a targeted 45% cost savings on that transaction.

Affiliated Companies: Towne Insurance, Mortgage, and Wealth Management

TowneBank structures its non-banking revenue through a family of wholly-owned subsidiaries, which is a key part of its value proposition. These affiliates include Towne Wealth Management, Towne Insurance Agency, Towne Benefits, TowneBank Mortgage, TowneBank Commercial Mortgage, and Berkshire Hathaway HomeServices RW Towne Realty. Total revenues for TowneBank in the third quarter of 2025 reached $215.67 million, a 23.58% increase compared to the third quarter of 2024.

The insurance segment shows measurable growth:

• Total net insurance commissions were $25.68 million in Q2 2025, up 6.85% from Q2 2024.
• Total net insurance commissions were $26.42 million in Q1 2025, up 3.47% from Q1 2024.
• Towne Insurance Agency ranked Number 51 among the Top 100 Brokers of U.S. Business (as of August 2025).

Mortgage and property management also contribute:

Residential mortgage banking income in Q2 2025 was slightly higher than the $13.42 million reported in Q2 2024. Honestly, the diversification helps smooth out the cyclical nature of pure lending.

Real Estate Partner: Berkshire Hathaway HomeServices RW Towne Realty

Berkshire Hathaway HomeServices RW Towne Realty operates as a TowneBank company, providing a direct link to real estate transactions. This affiliate is recognized as a Top 20 national Berkshire Hathaway HomeServices affiliate. The partnership unites nearly 600 residential specialists and over 100 luxury home professionals across Southeastern Virginia and Northeast North Carolina, according to a March 2023 statement. At that time, the combined realty entity claimed a 17% market share, an 11% lead over its closest competitor. They aim to expand into markets like Richmond, Raleigh, and Charlotte.

Technology Vendors for Core Banking and Digital Platforms

TowneBank's commitment to efficiency means relying on specialized technology partners. The bank has a revitalized collaboration with Baker Hill, using its Baker Hill NextGen® platform for lending and portfolio operations. This move, announced in 2022, was specifically to streamline loan origination and portfolio monitoring into a single-solution platform to improve speed to commitment and closing. While the core banking software market is expected to grow to $40.67 billion by 2029, TowneBank's strategy is to partner with providers that fit its current scale, avoiding solutions that are either too stagnant or too advanced.

Local Community and Charitable Organizations for Brand Building

TowneBank emphasizes its community-oriented approach, which is supported by partnerships with local entities. The bank's strategy involves local decision-making and a culture of caring. For example, the Old Point Financial acquisition was framed as a way to enhance the combined franchise while helping communities grow and prosper. While specific 2025 charitable contribution amounts aren't immediately available, the structure of the affiliated companies-like the realty serving military advantage programs-shows a deep integration with local community needs.

Finance: draft 13-week cash view by Friday.

TowneBank (TOWN) - Canvas Business Model: Key Activities

You're looking at the core engine driving TowneBank (TOWN)'s performance through late 2025, which is heavily focused on relationship banking supported by strategic, bolt-on acquisitions. The key activities revolve around deploying capital, attracting stable funding, and monetizing non-banking services.

Core commercial and retail lending and deposit generation.

This is the bread and butter, focusing on building the balance sheet with quality assets and low-cost funding. TowneBank (TOWN) reported total assets of $19.68 billion as of September 30, 2025.

The lending activity shows growth, with loans held for investment reaching $13.38 billion at the end of Q3 2025. The funding side is strong, with total deposits at $16.53 billion on the same date. A key metric here is the loan-to-deposit ratio, which stood at 80.93% as of September 30, 2025, indicating a disciplined approach to asset deployment relative to core funding.

The quality of that deposit base is a major activity focus:

• Noninterest-bearing deposits totaled $5.14 billion as of September 30, 2025.
• These noninterest-bearing deposits represented 31.09% of total deposits at September 30, 2025.
• The cost of interest-bearing deposits for Q3 2025 was 1.75%.

Net interest income for the third quarter of 2025 was $146.95 million. The yield on average loans held for investment was 5.65% in Q3 2025.

Integrating acquired banks to realize cost and revenue synergies.

TowneBank (TOWN) executed two significant bank acquisitions in 2025, making integration a primary activity. You defintely need to track the impact of these deals.

The April 2025 acquisition of Village Bank brought in $576.51 million in loans and $637.49 million in deposits. Then, the September 2025 acquisition of Old Point Financial Corporation added $961.35 million in loans and $1.21 billion in deposits. The Old Point acquisition alone drove an increase of $13.50 million in the allowance for credit losses in Q3 2025 due to acquisition-related marks.

The financial impact of integration efforts is visible in the expense line:

• Acquisition-related expenses in Q2 2025 totaled $18.74 million (covering Village and expected Old Point).
• Total noninterest expense in Q3 2025 was $153.74 million, up 21.15% year-over-year, partly due to these integrations.

Managing and growing diversified fee-based businesses.

The strategy involves growing non-interest income streams beyond traditional lending. Total noninterest income for Q3 2025 was $68.71 million, an increase of 10.41% from Q3 2024.

Here is a breakdown of key fee-based components from recent reports:

Residential mortgage banking loan volume in Q3 2025 was $636.36 million. The wealth management division reported investment commissions income of $3.2 million in Q2 2025.

Maintaining conservative credit standards and asset quality.

This activity is about rigorous underwriting and portfolio monitoring. TowneBank (TOWN) continues to emphasize strong credit discipline. Nonperforming loans were reported at 0.06% of period end loans as of March 31, 2025.

The bank's commitment to reserves and asset quality is shown in these figures:

• Allowance for credit losses on loans represented 1.08% of total loans at March 31, 2025.
• The ratio of net charge-offs to average loans annualized in Q1 2025 was 0.02%.
• The Total Risk-Based Capital Ratio was 14.49% in Q2 2025, well above regulatory minimums.

The loan portfolio composition shows a focus on commercial real estate, with Commercial Real Estate - Owner Occupied at $1.910 billion and Commercial Real Estate - Non-Owner Occupied at $1.239 billion as of Q3 2025.

Expanding geographic footprint, especially in the Carolinas.

Geographic expansion is executed through M&A and organic growth in adjacent markets. The acquisitions in 2025 expanded the footprint significantly beyond its Virginia base. The property management division, Towne Vacations, actively operates in North Carolina and South Carolina, among other states. The Village Bank acquisition brought a presence in the Richmond market.

The bank is targeting continued growth in its core lending base:

• TowneBank provided fiscal year 2025 guidance targeting annualized core loan growth in the mid-single digits.
• Loans held for investment increased $1.97 billion, or 17.23%, year-over-year as of September 30, 2025.

The overall asset base grew by $1.42 billion, or 7.78%, from June 30, 2025, to September 30, 2025.

TowneBank (TOWN) - Canvas Business Model: Key Resources

You're looking at the core assets that power TowneBank's operations as of late 2025. These aren't just line items; they are the engine for their community-focused banking model.

Financial Scale and Funding Stability

The sheer size of the balance sheet supports its regional presence. As of September 30, 2025, TowneBank reported total assets amounting to $19.68 billion. A critical component of this scale is the funding base, which emphasizes low-cost, stable sources.

That 31.09% figure for noninterest-bearing deposits shows a strong reliance on core, low-cost funding, which is the definition of stable funding for a bank this size. That's money that costs the bank very little to hold onto, helping the net interest margin.

Human Capital and Local Expertise

The strategy relies heavily on its people. TowneBank emphasizes highly experienced local bankers who provide a higher level of expertise and personal attention, empowered with local decision-making. This human element is positioned as a key differentiator against larger, more centralized institutions.

• Private Bankers are described as experienced lenders and banking relationship managers.
• The team leads a collaborative approach with affiliated specialists.
• The bank has grown its capabilities beyond pure banking to include specialized expertise across its subsidiaries.

Physical Footprint and Geographic Reach

The physical network supports the local relationship model across its primary markets in Virginia and North Carolina. TowneBank maintains an extensive branch network to serve its member base.

• Operates across Virginia and North Carolina.
• Reported a network of 50 Offices in total, with 35 branches located across 16 cities and towns within Virginia state.
• Another report indicates the bank operates over 60 banking offices.

The network expansion includes recent activity, such as the grand opening of its Greensboro Financial Center on October 29, 2025.

Proprietary Diversification via Affiliated Companies

TowneBank has built a proprietary suite of affiliated financial services companies, designed to offer integrated, one-stop solutions to its members, creating potential revenue synergies.

Here are the components of that proprietary suite:

• Towne Wealth Management
• Towne Insurance Agency
• Towne Benefits
• TowneBank Mortgage
• TowneBank Commercial Mortgage
• Berkshire Hathaway HomeServices RW Towne Realty
• Towne 1031 Exchange, LLC
• Towne Vacations

The merger with Village Bank and Trust Financial Corp. in April 2025 was explicitly noted to provide opportunity for diverse revenue synergies with the Towne Financial Services Group.

Finance: draft 13-week cash view by Friday.

TowneBank (TOWN) - Canvas Business Model: Value Propositions

High-touch, personalized relationship banking model.

TowneBank operates with a focus on relationships, which is evident in its operational footprint and service delivery.

• Operates over 60 banking offices across Hampton Roads, Central Virginia, Northeastern and Central North Carolina, and the Outer Banks.
• Loan volume for residential mortgage banking increased to $636.36 million in third quarter 2025 from $598.18 million in third quarter 2024.

Single-source access to banking, insurance, mortgage, and wealth services.

The value proposition includes an integrated suite of services delivered through affiliated companies, supporting a comprehensive client relationship.

Local decision-making authority for faster commercial lending.

Experienced local bankers provide expertise and facilitate quicker decisions, a core tenet of the Main Street strategy.

• Total loans held for investment reached $13.38 billion as of September 30, 2025.
• The bank targets annualized core loan growth in the mid-single digits for fiscal year 2025.

Main Street approach focused on community and member service.

The bank's mission is Serving Others and Enriching Lives, which translates into specific operational metrics and a focus on core deposit stability.

• Noninterest-bearing deposits were $5.14 billion, representing 31.09% of total deposits at September 30, 2025.
• Noninterest-bearing deposits increased 20.43% compared to September 30, 2024.

Financial stability with a total risk-based capital ratio of 14.49%.

TowneBank maintains a strong capital position, which supports its conservative balance sheet management.

Total assets stood at $19.68 billion at September 30, 2025.

TowneBank (TOWN) - Canvas Business Model: Customer Relationships

You're focused on how TowneBank (TOWN) maintains its core value proposition in a growing, acquisitive environment. The customer relationship model is central to their strategy, built on high-touch service rather than pure scale.

Dedicated relationship managers for commercial and private banking.

The Private Banking segment explicitly offers the highest level of expertise and personal attention from a banker who is totally dedicated to the member's unique financial needs. These Private Bankers are experienced lenders and banking relationship managers who take an individualized approach to each member. For business clients, TowneBank emphasizes that you get a dedicated banker who can guide you through financial decisions for your business. This structure is reinforced by the bank's growth through acquisitions, such as the September 2025 addition of Old Point National Bank, where the goal is to maintain a personal point of contact for private banking clients within the combined entity. The Private Bankers lead a collaborative team that includes affiliated TowneBank specialists, such as those in treasury and merchant services, to ensure an integrated approach.

High-level personal attention and expertise.

The service model is designed to be concierge-like, especially for executives, business owners, and professionals. This high-touch service is supported by a large team; as of the second quarter of 2025, TowneBank had over 2,800 family members (employees) working across its footprint. The bank operates over 55 banking offices throughout Hampton Roads, Central Virginia, and Northeastern and Central North Carolina, keeping local presence strong despite asset growth to $18.26 billion as of June 30, 2025.

Member-centric culture focused on 'Serving Others and Enriching Lives.'

The bank's founding vision and ongoing mission is explicitly stated as Serving Others and Enriching Lives. This culture is meant to value all employees and members by embracing their diverse talents, perspectives, and experiences. This commitment to the culture is a key differentiator, even as total deposits reached $16.53 billion by the third quarter of 2025. The relationship focus is evident in the stability of low-cost funding, with noninterest-bearing deposits representing 31.09% of total deposits as of September 30, 2025.

Proactive financial guidance and advisory services.

The relationship managers are expected to help members develop comprehensive programs for both personal and business finances, including lending, banking, and retirement planning. This guidance is supported by the broader Towne Family of Services, which includes Wealth Management services designed to help build and maintain tailored wealth plans. The focus on relationship banking is intended to serve as a pillar of strength for members, even when growth might be challenged in the short run.

Local community engagement to foster loyalty.

Fostering loyalty is heavily tied to tangible local support through The TowneBank Foundation, which was founded in 2001. The Foundation provides charitable grants and donations to more than 200 local non-profit organizations each year. TowneBank contributes a percentage of its annual profits to the Foundation and covers 100 percent of the Foundation's administrative fees. Since its inception in 2004, the premier fundraising event, The Fall Extravaganza, has raised nearly $6 million in grants. Cumulative donations since the bank's founding in 1999 stand at $127M.

Here's a quick look at the scale and relationship metrics as of late 2025:

The commitment to personal service is also reflected in the structure of their banking offices and the focus on local leadership, with specific presidents named for regions like Cary, North Carolina, and officers dedicated to areas like Commercial Real Estate Finance.

• Private Bankers are always available when needed.
• Employee volunteerism is tracked, with 9,280 Hours Volunteered in a recent period.
• The bank has a 10-year total shareholder return of 178% as of June 30, 2025.
• The Fall Extravaganza has raised nearly $6 million since 2004.

Finance: draft 13-week cash view by Friday.

TowneBank (TOWN) - Canvas Business Model: Channels

You're looking at how TowneBank gets its value proposition to its customers across its markets, which is a blend of physical presence and digital tools. The strategy here is clearly relationship-driven, supported by scale.

Physical Banking Offices in Target Markets

TowneBank maintains a significant physical footprint built on its Main Street banking model. Following the acquisition and merger with Village Bank, the combined entity operates an expanded branch network of 58 offices as of June 2025. This network spans Hampton Roads, Central Virginia, and extends into Northeastern and Central North Carolina, including recent expansion into markets like Greensboro, where a Financial Center opened on October 29, 2025. The bank's total employee base supporting these channels and other services was reported at more than 2,800 family members as of Q2 2025.

The physical channel distribution supports the bank's core banking and its specialized affiliates:

Digital Channels: Online and Mobile Banking

For all segments, digital access is a core component of convenience. TowneBank offers Online & Mobile Banking services, which include Person to Person Payments options. The bank's digital offerings are designed to ensure continued banking convenience alongside the physical offices. For users who had accounts at both TowneBank and Village Bank, their combined accounts were viewable after logging into TowneBank personal online banking on or after June 9, 2025.

Specialized Offices for Ancillary Services

The model integrates specialized services directly within or alongside the banking centers to offer a full suite of financial products. For instance, a single financial center, like the one in North Ridge, houses a full-service banking center, commercial and retail bankers, a mortgage lender office, Towne Insurance offices, and local wealth management team members. The insurance team at the North Ridge location consisted of a team of 21 providing risk advisory and benefits consultant services.

The wealth management division reported investment commissions income of $3.2 million for Q2 2025, showing the direct revenue generation from this channel.

Direct Sales Force for Commercial and Treasury Services

Relationship banking is executed through experienced local bankers providing high-level expertise and personal attention, empowered for local decision-making. These bankers drive the delivery of commercial and treasury services. The bank offers a full range of treasury solutions and deposit products tailored by market area. The commercial banking focus includes services like Commercial Checking, Commercial Lending, and Treasury Services.

The direct engagement model is supported by the overall employee base, which is key to delivering the bank's high-touch service pledge.

ATM Network and Zelle for Transactional Convenience

Transactional convenience is maintained through an ATM network, which is searchable alongside banking locations across Virginia and North Carolina. While a specific ATM count isn't public, the bank provides tools for locating these points of service. The digital channel also supports Person to Person Payments, which aligns with services like Zelle for quick, safe money movement.

• Online & Mobile Banking availability for all members.
• Person to Person Payments functionality offered.
• ATM network access across the operational footprint.
• Local bankers empowered for relationship-based decision-making.

TowneBank (TOWN) - Canvas Business Model: Customer Segments

TowneBank focuses its efforts across distinct client groups, a strategy supported by its total assets reaching $19.7 billion as of September 30, 2025.

Small to mid-sized businesses (SMBs) and commercial clients.

This group forms the core of the bank's 'Main Street banking strategy.' The loan portfolio reflects this focus, with loans held for investment totaling $13.38 billion at September 30, 2025. Organic loan growth, excluding acquisitions, climbed nearly 5% on an annualized basis during the second quarter of 2025. The bank supports these clients with a competitive array of business banking solutions, emphasizing local decision-making.

The funding base for these commercial activities is partially derived from low-cost operational funds:

• Noninterest-bearing deposits were $5.14 billion as of September 30, 2025.
• This noninterest-bearing base represented 31.09% of total deposits.

High-net-worth individuals and affluent families.

Service to this segment is channeled through specialized wealth management offerings. The bank has built a significant presence here, with Assets Under Management reaching $5.9 billion at the end of the second quarter of 2025. Investment commissions income for the wealth management division was $3.2 million in the second quarter of 2025, up from $2.6 million in the prior year quarter. This group also utilizes personal banking solutions and services from affiliated companies like Towne Insurance Agency.

Real estate investors and commercial property developers.

This segment is served through both traditional commercial lending and specialized financing arms, including TowneBank Commercial Mortgage. The overall loan portfolio, which includes commercial real estate, stood at $13.38 billion in loans held for investment as of September 30, 2025. Furthermore, the property management division, Towne Vacations, which serves investors in vacation rental properties across states like North Carolina, South Carolina, Maryland, Tennessee, and Florida, generated net income of $15.6 million in the second quarter of 2025. The bank also offers services like Towne 1031 Exchange to facilitate real estate investment strategies.

Retail consumers in the Hampton Roads and Central Virginia MSAs.

Retail consumers are the foundation of the bank's original market. TowneBank operates over 60 banking offices throughout Hampton Roads and Central Virginia, alongside its expansion into North Carolina. As of June 2024, the bank held a nearly 30% share of the Hampton Roads banking market, a position expected to grow following recent acquisitions. Total deposits across all segments reached $16.53 billion by September 30, 2025, reflecting the broad consumer and business deposit base.

Local municipalities and specialized industry verticals.

TowneBank services local government and specialized sectors through its diversified structure, which includes Towne Insurance and Towne Benefits. The insurance segment, which the bank claims is the largest bank-owned insurance company in the country, generated revenue of $30.9 million in the second quarter of 2025. The bank has actively expanded its footprint and capabilities through strategic mergers, such as the April 2025 acquisition of Village Bank and the September 2025 acquisition of Old Point National Bank, which enhanced its presence in the Richmond MSA and North Carolina markets, respectively.

Here's a quick look at the scale of TowneBank's operations as of late 2025:

The bank's strategy relies on experienced local bankers providing personal attention. If onboarding new commercial clients takes 14+ days, churn risk rises, so efficiency in the core banking segment is defintely key.

Finance: draft 13-week cash view by Friday.

TowneBank (TOWN) - Canvas Business Model: Cost Structure

You're looking at where TowneBank (TOWN) is spending its money to keep the lights on and grow, especially with all the recent M&A activity. Honestly, the cost structure is heavily influenced by its people and the price of money.

Significant personnel costs for over 2,800 employees are a major fixed outlay. The Executive Chairman noted the team size was over 2,800 family members as of the second quarter of 2025. Salaries and benefits expense saw a notable jump, increasing by $7.01 million in the second quarter of 2025 compared to the same period in 2024, partly due to annual base salary adjustments and higher banking personnel from the Village acquisition.

Then there's the interest expense on deposits. Even with recent rate declines, this is a substantial cost. For the quarter ended June 30, 2025, the cost of interest-bearing deposits settled at 2.61%, a definite drop from 3.32% in the second quarter of 2024. This rate improvement helped drive interest expense on deposits down by $13.87 million, or 16.91%, year-over-year for that quarter. Still, total deposits were up to $15.33 billion as of June 30, 2025.

General and administrative expenses for branch operations fall under the broader umbrella of noninterest expense. Total noninterest expense for the second quarter of 2025 hit $150.67 million, which was up 21.52% from $123.98 million in the prior year's second quarter. This category covers everything from rent and utilities for the physical footprint to operational overhead.

You can't run a modern bank without serious spending on technology and data security investments. While the exact dollar figure isn't itemized in the top-line results, the Q1 2025 risk disclosures definitely highlight ongoing concerns about cybersecurity threats and the need for implementing new technologies. This is a non-negotiable cost of doing business today.

Finally, the recent growth strategy means absorbing integration and restructuring costs from 2025 acquisitions. The April 2025 closing of the Village Bank acquisition, plus costs associated with the expected Old Point Financial Corporation deal, resulted in $18.74 million in acquisition-related expenses recognized in the second quarter of 2025. To give you a sense of the non-recurring impact, the total impact of non-recurring elements in Q2 2025 was $22.50 million. For comparison, acquisition related expenses in Q1 2025 were $420 thousand.

Here's a quick look at the major components of the expense side for the second quarter of 2025:

The cost profile is clearly shifting due to strategic moves. You should keep an eye on how personnel costs normalize post-integration, because that's where a lot of the growth in noninterest expense is coming from.

Key cost drivers and related metrics include:

• The number of Towne teammates stood at over 2,800 as of Q2 2025.
• The cost of interest-bearing deposits fell to 2.61% in Q2 2025.
• Noninterest-bearing deposits represented 31.02% of total deposits at $4.75 billion in Q2 2025.
• Total noninterest expense for Q1 2025 was $130.54 million.
• The non-recurring cost impact in Q2 2025 translated to an additional $0.30 per share in expenses.

Finance: draft 13-week cash view by Friday.

TowneBank (TOWN) - Canvas Business Model: Revenue Streams

You're looking at how TowneBank converts its assets and services into actual cash flow as of late 2025. It's a classic bank model, but with significant diversification through its insurance and property management arms. Honestly, the mix is what keeps things interesting when the net interest margin shifts.

The primary engine remains the loan portfolio, which generates Net Interest Income (NII). For the third quarter of 2025, NII hit $146.95 million. This figure reflects the spread between what TowneBank earns on its assets, like loans yielding 5.65% on average at September 30, 2025, and what it pays out on liabilities, with the cost of interest-bearing deposits sitting at 2.55% for that quarter. This NII growth was helped by the acquisition of Old Point Financial Corp in September 2025 and Village Bank in April 2025.

Beyond the core lending spread, TowneBank pulls in substantial Noninterest Income, which totaled $68.71 million in Q3 2025. This non-loan revenue is critical for balancing the business. Here's a breakdown of the key fee-based components we can track:

The fee income from Towne Insurance commissions is a significant non-interest income driver. For the third quarter of 2025, this segment brought in $25.791 million in net commissions and related income. That's a solid number, showing the value of their cross-selling efforts.

You also see direct revenue from specialized services that cater to different client needs. The Residential Mortgage Banking Income, net, for Q3 2025 was $13.12 million, based on a loan volume of $636.36 million for the quarter. That volume shows they are still actively originating mortgages.

The property management side, which includes Towne Vacations and realty operations, is also a distinct revenue stream. Property management income, net, for the quarter ended September 30, 2025, was $13.53 million. That increase, up 20.57% from the prior year quarter, was driven by changes to their fee structure, which is a smart move to capture more value.

Finally, the revenue from Wealth Management, Trust, and Treasury Services fees is embedded within the total noninterest income of $68.71 million. While the search results detail other fee components like service charges on deposits ($4.056 million in Q3 2025) and credit card merchant fees ($1.909 million in Q3 2025), the specific dollar amount for wealth management, trust, and treasury services isn't isolated in the provided data. However, the company's description confirms these services are offered to individuals, small businesses, and middle-market corporations, suggesting a steady, relationship-based fee component.

Here's what we know about the other fee sources contributing to that $68.71 million noninterest income total:

• Service charges on deposit accounts: $4.056 million in Q3 2025.
• Credit card merchant fees, net: $1.909 million in Q3 2025.
• The remaining balance is composed of the insurance, property management, mortgage banking income, and the wealth management/trust/treasury fees.

Finance: draft 13-week cash view by Friday.