TowneBank provides retail and commercial banking services to the individuals and small & medium size businesses. It offers full range of banking and related financial services. It operates through the following segments: Banking, Realty, and Insurance. The Banking segment provides loan and deposit services to retail and commercial customers. It also includes commercial mortgage brokerage and a variety of investment & asset management services. The Realty segment provides residential real estate services and originations of a variety of mortgage loans. It also provides resort property management and residential and commercial title insurance. The Insurance segment provides individual and business members with a wide array of insurance products, including life, property, casualty, travel, and vehicle insurance, as well as employee and group benefits. The company was founded by R. Scott Morgan on September 3, 1998 and is headquartered in Portsmouth, VA.