Management criteria checks 4/4
TowneBank's CEO is Bill Foster, appointed in Dec 2022, has a tenure of 1.75 years. total yearly compensation is $1.46M, comprised of 61.5% salary and 38.5% bonuses, including company stock and options. directly owns 0.065% of the company’s shares, worth $1.62M. The average tenure of the management team and the board of directors is 6.3 years and 20.5 years respectively.
Key information
Bill Foster
Chief executive officer
US$1.5m
Total compensation
| CEO salary percentage | 61.5% |
| CEO tenure | 1.8yrs |
| CEO ownership | 0.07% |
| Management average tenure | 6.3yrs |
| Board average tenure | 20.5yrs |
Recent management updates
Recent updates
TowneBank's (NASDAQ:TOWN) Dividend Will Be $0.25
Aug 31
TowneBank (NASDAQ:TOWN) Has Affirmed Its Dividend Of $0.25
Jun 04
TowneBank: Manageable CRE Exposure, But The Stock Is A Bit Too Expensive
May 08
The TowneBank (NASDAQ:TOWN) First-Quarter Results Are Out And Analysts Have Published New Forecasts
Apr 26
TowneBank's (NASDAQ:TOWN) Shareholders Will Receive A Bigger Dividend Than Last Year
May 28
TowneBank declares $0.23 dividend
Aug 24
TowneBank GAAP EPS of $0.64 beats by $0.03, revenue of $166.98M
Jul 28
TowneBank's (NASDAQ:TOWN) Dividend Will Be Increased To US$0.23
Jun 21
Here's Why I Think TowneBank (NASDAQ:TOWN) Might Deserve Your Attention Today
Jan 21
CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Jun 30 2024 | n/a | n/a | US$151m |
| Mar 31 2024 | n/a | n/a | US$150m |
| Dec 31 2023 | US$1m | US$900k | US$154m |
| Sep 30 2023 | n/a | n/a | US$172m |
| Jun 30 2023 | n/a | n/a | US$177m |
| Mar 31 2023 | n/a | n/a | US$182m |
| Dec 31 2022 | US$2m | US$603k | US$189m |
| Sep 30 2022 | n/a | n/a | US$182m |
| Jun 30 2022 | n/a | n/a | US$183m |
| Mar 31 2022 | n/a | n/a | US$192m |
| Dec 31 2021 | US$2m | US$451k | US$215m |
| Sep 30 2021 | n/a | n/a | US$225m |
| Jun 30 2021 | n/a | n/a | US$209m |
| Mar 31 2021 | n/a | n/a | US$188m |
| Dec 31 2020 | US$1m | US$440k | US$146m |
| Sep 30 2020 | n/a | n/a | US$131m |
| Jun 30 2020 | n/a | n/a | US$134m |
| Mar 31 2020 | n/a | n/a | US$134m |
| Dec 31 2019 | US$2m | n/a | US$139m |
Compensation vs Market: Bill's total compensation ($USD1.46M) is below average for companies of similar size in the US market ($USD6.82M).
Compensation vs Earnings: Bill's compensation has been consistent with company performance over the past year.
CEO
Bill Foster (68 yo)
1.8yrs
Tenure
US$1,464,533
Compensation
Mr. William I. Foster, III, also known as Bill, serves as Chief Executive Officer and President of TowneBank since December 31 2022. He is President of Central Virginia & the Carolinas at TowneBank since S...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman | 26.7yrs | US$1.65m | 0.57% $ 14.2m | |
| CEO, President & Director | 1.8yrs | US$1.46m | 0.065% $ 1.6m | |
| Senior EVP & CFO | 6.5yrs | US$1.10m | 0.10% $ 2.6m | |
| President & Regional Banking Director for Virginia and Northeastern North Carolina | 5.9yrs | US$851.49k | 0.073% $ 1.8m | |
| President & CEO of TowneBank Financial Services Group and Director | no data | US$1.41m | 0.22% $ 5.5m | |
| Senior Executive VP & COO | 1.7yrs | no data | 0.027% $ 659.8k | |
| Senior EVP & Chief Accounting Officer | 6.3yrs | no data | 0.0073% $ 180.3k | |
| Senior EVP & Chief Information Officer | 8.3yrs | no data | 0.018% $ 457.6k | |
| Senior EVP & Chief Legal Officer | 7.9yrs | no data | 0.027% $ 677.7k | |
| Executive VP and Director of Marketing & Member Experience | 5.7yrs | no data | no data | |
| Executive Vice President of Towneinsurance | no data | no data | no data | |
| President of Portsmouth & Real Estate Finance Group | no data | no data | no data |
6.3yrs
Average Tenure
58yo
Average Age
Experienced Management: TOWN's management team is seasoned and experienced (6.3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman | 26.7yrs | US$1.65m | 0.57% $ 14.2m | |
| CEO, President & Director | 19.3yrs | US$1.46m | 0.065% $ 1.6m | |
| President & CEO of TowneBank Financial Services Group and Director | 8.3yrs | US$1.41m | 0.22% $ 5.5m | |
| Advisor & Director Emeritus | no data | no data | no data | |
| Advisor & Director Emeritus | no data | US$156.56k | no data | |
| Chairman of TowneBank Peninsula | no data | US$53.21k | no data | |
| Independent Director | 20.5yrs | US$114.86k | 0.13% $ 3.2m | |
| Independent Vice Chairman of the Board | 8.3yrs | US$101.19k | 0.16% $ 4.0m | |
| Independent Director | 23.9yrs | US$85.61k | 0.12% $ 2.9m | |
| Independent Director | 25.7yrs | US$93.61k | 0.027% $ 683.4k | |
| Independent Director | 25.7yrs | US$101.21k | 0.26% $ 6.5m | |
| Independent Director | 9.3yrs | US$119.44k | 0.082% $ 2.0m |
20.5yrs
Average Tenure
73.5yo
Average Age
Experienced Board: TOWN's board of directors are seasoned and experienced ( 20.5 years average tenure).
