TowneBank has reported earnings of $21.97 million for the quarter ended March 31, as compared to the 
$17.82 million reported for the comparative period in 2016, representing a 23.28-percent increase.

Fully diluted earnings per share were $0.35 per share, unchanged from the comparative period of 2016.

The bank’s quarterly dividend was 13 cents per share, resulting in total common dividends of $8.13 million. The current dividend represents an increase of 8.3 percent over the dividend paid during the same quarter of 2016.

“We are pleased to announce another quarter of strong earnings with solid loan and deposit growth,” said G. Robert Aston Jr., chairman and chief executive officer.