Towne Bank (Towne Bank) Interest Expense : $-247.5 Mil (TTM As of Dec. 2023)

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What is Towne Bank Interest Expense?

Interest Expense is the amount reported by a company or individual as an expense for borrowed money. Towne Bank's interest expense for the three months ended in Dec. 2023 was $ -76.4 Mil. Its interest expense for the trailing twelve months (TTM) ended in Dec. 2023 was $-247.5 Mil.

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income(EBIT) by its Interest Expense. Towne Bank's Operating Income for the three months ended in Dec. 2023 was $ Mil. Towne Bank's Interest Expense for the three months ended in Dec. 2023 was $ Mil. The higher the ratio, the stronger the company's financial strength is. Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Towne Bank Interest Expense Historical Data

The historical data trend for Towne Bank's Interest Expense 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 Interest Expense Chart

Towne Bank Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Expense

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-109.47

-80.02

-41.08

-56.57

-247.46

Towne Bank Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Interest Expense	Get a 7-Day Free Trial															-23.14	-40.02	-61.25	-69.80	-76.39

Towne Bank Interest Expense Calculation

Interest Expense is the amount reported by a company or individual as an expense for borrowed money.

Interest Expense for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $-247.5 Mil.

Towne Bank (Towne Bank) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Towne Bank (NAS:TOWN) » Definitions » Interest Expense

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.