Towne Bank (Towne Bank) Credit Losses Provision : $6.1 Mil (As of Mar. 2024)

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What is Towne Bank Credit Losses Provision?

Towne Bank's credit losses provision for the three months ended in Mar. 2024 was $-0.9 Mil. Its credit losses provision for the trailing twelve months (TTM) ended in Mar. 2024 was $6.1 Mil.

Towne Bank's quarterly credit losses provision increased from Sep. 2023 ($1.0 Mil) to Dec. 2023 ($2.4 Mil) but then declined from Dec. 2023 ($2.4 Mil) to Mar. 2024 ($-0.9 Mil).

Towne Bank's annual credit losses provision increased from Dec. 2021 ($-16.8 Mil) to Dec. 2022 ($8.6 Mil) and increased from Dec. 2022 ($8.6 Mil) to Dec. 2023 ($18.7 Mil).

Towne Bank Credit Losses Provision Historical Data

The historical data trend for Towne Bank's Credit Losses Provision can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Towne Bank Credit Losses Provision Chart

Towne Bank Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Credit Losses Provision

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9.37

67.18

-16.77

8.61

18.68

Towne Bank Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Credit Losses Provision	Get a 7-Day Free Trial															11.67	3.56	1.01	2.45	-0.88

Towne Bank Credit Losses Provision Calculation

For each period of operations, banks may reserve a portion of their income to cover the possible non-performing loans. The amount of the Credit Losses Provision is dependent on the management's estimate of the load quality they have. The higher Credit Losses Provision is, the lower banks' reported income in. This does not affect banks' cash flow statement.

Credit Losses Provision for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $6.1 Mil.

Towne Bank (Towne Bank) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Towne Bank (NAS:TOWN) » Definitions » Credit Losses Provision

Comparable Companies

Traded in Other Exchanges

N/A

Address

5716 High Street, Portsmouth, VA, USA, 23703

Website

https://www.townebank.com

Towne Bank is a financial services company that places special emphasis on serving the financial needs of individuals, commercial enterprises, and professionals, offering retail and commercial banking services to numerous markets in Virginia and North Carolina. The company has three reportable segments: Banking Segment provides loan and deposit services to retail and commercial customers and provides commercial mortgage brokerage services and investment and asset management services, and the Realty Segment provides residential real estate services and mortgage loans. It also provides resort property management and residential and commercial title insurance, and Insurance Segment provides provide a wide array of insurance products, including property, casualty, life, and health insurance.