Best Places to Work: TowneBank

by CoVaBizMag

By Barrett Baker

6001 Harbour View Blvd., Suffolk. TowneBank also has locations throughout Coastal Virginia | 757-638-6700 |
Founded: 1999
Number of Employees: 1,179 bank employees

TowneBank is celebrating its 20th anniversary this year. It all started in a garage in Portsmouth with a dream to build a community asset that would make a positive impact in the region. The bank opened three branches in 1999. Today, they have 41 banking offices located from the Oceanfront of Virginia Beach to the Outer Banks of North Carolina, west to Williamsburg, Richmond and Central Virginia, and in Raleigh, Charlotte and Greenville, N.C. With assets of $11.6 billion, they are one of the largest banks headquartered in Virginia.

A major part of Towne’s success comes from the culture of caring the bank established from day one. They have provided significant financial support to the community throughout its history—a total of nearly $57 million over the last 20 years. TowneBank has always encouraged employees to volunteer. Paid time off is provided as family members participate in Raising a Reader programs, Roc Solid playground builds, the United Way Day of Caring, Salvation Army Holiday Events, Teach Children to Save and many others. Employees also serve on many local nonprofit boards. Being fully engaged in community outreach contributes to the culture of caring among employees.

TowneBank employees feel a sense of belonging that comes from the top. Management makes it clear that employees are valued and cared for. Managers lead by example and work side by side with employees at all levels during the work day and at community events.

“We often hear that our coworkers become like a family, and at TowneBank it really is true,” says Kim Ritter, executive vice president, director of human resources. “Caring is at the heart of everything we do, all day, every day. That sense of caring makes a major difference and is a big reason why TowneBank is such a great place to work.”


TowneBank community outreach

TowneBank employees volunteering

Work Perks:

  • Healthcare benefits
  • Paid time off for participation in volunteer projects and activities
  • 12 paid holidays
  • A minimum of three weeks’ vacation for all employees
  • Paid time off for each employee’s birthday
  • Perfect Attendance bonus including CEO-hosted luncheon and two additional vacation days
  • Tuition reimbursement
  • Free online courses
  • Service Award recognition for 5-, 10-, 15- and 20-year work anniversaries
  • Family Fun Day for team members and their families
  • Profit sharing
  • Reduced rates on Weight Watchers and on-campus fitness classes
  • Wellness programs including onsite flu shots, health screenings and more
  • Clothing allowance for tellers

Why I Love My Job:

“TowneBank’s company culture for both members and employees is a ‘culture of caring.’ When an employee or Towne family member is facing a life challenge, Towne goes above and beyond to provide a sense of belonging for employees. Whether they are fighting MS, battling ALS or struggling with a family event, Towne stands behind the employee throughout the illness or family crisis with love and compassion.” —Kim Ritter, Executive Vice President, Director of Human Resources, 10–20 years with TowneBank

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