American Banker ranks TowneBank among best banks to work for

Published 9:41 am Thursday, December 21, 2023

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TowneBank has been named one of the Best Banks to Work For by American Banker, taking the #53 spot among financial institutions in the nation. The bank, with offices in Virginia and North Carolina, ranked #1 for banks based in Virginia and #7 among financial institutions listed with $10 billion or more in assets.

This year, 90 banks earned a spot in the ranking of Best Banks to Work For, based on an anonymous employee survey and a thorough review of the benefits and perks offered. American Banker has partnered with Best Companies Group to identify banks that excel at creating positive and supportive workplaces for employees.

Determining the Best Banks to Work For involved a two-step process. The magazine asked all companies to respond to several questions about best practices and workplace benefits, then surveyed employees as part of its 11th annual Best Banks to Work For recognition. To be considered for participation, banks had to have at least 50 employees working in the U.S. and have been in business for a minimum of one year. Best Companies Group managed the registration and survey process and also analyzed the data to determine the final ranking.

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In its profile, American Banker noted that Towne “works hard to make sure every employee feels included at the bank,” and that the bank places an emphasis on teamwork over hierarchy.

“We are committed to creating a workplace that people want to join and where our employees want to stay,” says Billy Foster, president and CEO at TowneBank. “TowneBank is dedicated to a culture of caring that values all employees and embraces their diverse talents, perspectives, and experiences while fostering inclusion that inspires innovation, encourages respect, and promotes success.”

In 2024, TowneBank will celebrate 25 years of serving others and enriching lives. The bank has seen significant growth since its founding in 1999 with three locations. Today, the bank has 50 locations and 1,760 bank employees across Virginia and North Carolina, with an additional 1,000 employees across its family of companies.

The full 2023 Best Banks to Work For list is available at