KBRA Releases Surveillance Report for TowneBank

11 Jul 2023   |   New York


On June 23, 2023, KBRA affirmed the deposit and senior unsecured debt ratings of A-, the subordinated debt rating of BBB+, and the short-term deposit and debt ratings of K2 for Portsmouth, Virginia-based TowneBank (NASDAQ: TOWN, "the bank"). The Outlook for all long-term ratings was revised to Stable from Positive.

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