FEDERAL DEPOSIT INSURANCE CORPORATION

Washington, D.C. 20429

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 26, 2024

(Exact name of registrant as specified in its charter)

Virginia

35095

54-1910608

(State or other jurisdiction

(FDIC Insurance Cert. No.)

(IRS Employer

of incorporation)

Identification No.)

5716 High Street

Portsmouth, Virginia

23703

(Address of principal executive offices)

(Zip Code)

(Registrant's telephone number, including area code): (757) 638-7500

No change

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

  • Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

  • Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

  • Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

  • Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common Stock, par value $1.667 per share TOWN The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On March 26, 2024, Bradford L. Cherry notified TowneBank of his intent to retire as a member of its board of directors (the "Board"), effective after TowneBank's annual meeting of shareholders on May 22, 2024. Mr. Cherry is not resigning from the Board due to any disagreement with TowneBank on any matter relating to its operations, policies, or practices. Mr. Cherry expressed his continued support of the Board, the management team and the company.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

TowneBank (Registrant)Date: March 28, 2024

By: /s/ William B. Littreal William B. Littreal

Senior Executive Vice President and Chief Financial Officer

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TowneBank published this content on 28 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 March 2024 19:50:19 UTC.