TowneBank Announces Sale of Resort Property Management Segment [Yahoo! Finance]
Towne Bank (TOWN)
Last towne bank earnings: 4/27 08:30 am
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Source: Yahoo! Finance
its Resort Property Management segment, Towne Vacations, to Belcrest Vacations Acquisitions, LLC for a transaction value of $250 million. “The sale of Towne Vacations marks yet another opportunity for creating shareholder value through TowneBank's unique strategy of investing and building companies outside of traditional banking activities,” said G. Robert Aston, Jr., Executive Chairman. “The transaction is financially compelling and provides the business with a partner who is well positioned to support its future growth. I would like to personally thank the dedicated teams that worked hard to complete the deal,” said William T. Morrison, President and CEO Towne Financial Services Group. “As we look to the future, we will continue to seek new opportunities in the marketplace that have the potential to create intrinsic value for our shareholders,” added William I. Foster III, President and CEO. Wachtell, Lipton, Rosen and Katz served as lead legal counsel with Williams Mullen a
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News
- TowneBank Announces Sale of Resort Property Management SegmentGlobeNewswire
- 3 Bank Stocks with Open Questions [Yahoo! Finance]Yahoo! Finance
- Regional Banks Stocks Q3 Highlights: TowneBank (NASDAQ:TOWN) [Yahoo! Finance]Yahoo! Finance
- TowneBank Announces Quarterly Cash DividendGlobeNewswire
- Towne Bank (NASDAQ:TOWN) was downgraded by analysts at Zacks Research from a "hold" rating to a "strong sell" rating.MarketBeat