Towne Bank (Towne Bank) Tax Rate % : 8.53% (As of Dec. 2023)

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What is Towne Bank Tax Rate %?

Tax Rate % is calculated as Tax Expense divided by its Pre-Tax Income. Towne Bank's Tax Expense for the three months ended in Dec. 2023 was $2.7 Mil. Towne Bank's Pre-Tax Income for the three months ended in Dec. 2023 was $31.2 Mil. Therefore, Towne Bank's Tax Rate % for the quarter that ended in Dec. 2023 was 8.53%.

Towne Bank Tax Rate % Historical Data

The historical data trend for Towne Bank's Tax Rate % 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 Tax Rate % Chart

Towne Bank Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Tax Rate %

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18.49

15.84

19.58

19.65

16.69

Towne Bank Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Tax Rate %	Get a 7-Day Free Trial															19.96	19.97	17.84	17.38	8.53

Towne Bank Tax Rate % Calculation

Tax Rate % is the ratio of tax expense divided by pretax income, usually presented in percent.

Towne Bank's Tax Rate % for the fiscal year that ended in Dec. 2023 is calculated as

Tax Rate %	=	Tax Expense (A: Dec. 2023 )	/	Pre-Tax Income (A: Dec. 2023 )
	=	31.085	/	186.221
	=	16.69 %

Towne Bank's Tax Rate % for the quarter that ended in Dec. 2023 is calculated as

Tax Rate %	=	Tax Expense (Q: Dec. 2023 )	/	Pre-Tax Income (Q: Dec. 2023 )
	=	2.661	/	31.206
	=	8.53 %

Towne Bank Tax Rate % Related Terms

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Towne Bank (Towne Bank) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Towne Bank (NAS:TOWN) » Definitions » Tax Rate %

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.