TowneBank earns state’s best bank to work honor

Published 10:38 am Wednesday, December 6, 2023

TowneBank, with 50 locations across Virginia and North Carolina, has been named nationally as one of the “Best Banks to Work For” by American Banker, taking the No. 1 spot among financial institutions based in Virginia and the No. 7 spot among financial institutions listed with $10 billion or more in assets. 

This year, 90 banks earned a spot in the ranking of Best Banks to Work For, based on an anonymous employee survey and a thorough review of the benefits and perks offered, according to a news release. American Banker has partnered with Best Companies Group to identify banks that excel at creating positive and supportive workplaces for employees.

Determining the Best Banks to Work For involved a two-step process. The magazine asked all companies to respond to several questions about best practices and workplace benefits, then surveyed employees as part of its 11th annual Best Banks to Work For recognition, the release explained. To be considered for participation, banks had to have at least 50 employees working in the U.S. and have been in business for a minimum of one year. Best Companies Group managed the registration and survey process and also analyzed the data to determine the final ranking.  

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In its profile, American Banker noted that Towne “works hard to make sure every employee feels included at the bank,” and that the bank places an emphasis on teamwork over hierarchy, the release stated.

“We are committed to creating a workplace that people want to join and where our employees want to stay,” said Billy Foster, president and CEO at TowneBank. “TowneBank is dedicated to a culture of caring that values all employees and embraces their diverse talents, perspectives, and experiences while fostering inclusion that inspires innovation, encourages respect, and promotes success.”

In 2024, TowneBank will celebrate 25 years of serving others and enriching lives. The bank has seen significant growth since its founding in 1999 with 3 locations. Today, the bank has 50 locations and 1,760 bank employees across Virginia and North Carolina, with an additional 1,000 employees across its family of companies.

The full 2023 Best Banks to Work For list is available at