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Community Investment

TowneBank (Honorable Mention) - Suffolk, VA

2022 Community Committment Awards Submission

  • Affordable Housing
  • Asset Size: Medium

TowneBank established its Public Finance and Community Investment (PFCI) division in 2013. PFCI was created to ensure that all of Towne's friends and neighbors have access to high quality, safe affordable housing with a full suite of amenities which serve to create a healthy lifestyle regardless of income level. Anne Conner, a long-time Towne family member, was named as its President.

'TowneBank recognizes that stable, affordable housing is supportive of emotional, physical, and behavioral health,' Anne says. 'We also recognize the economic benefits. Studies have shown that affordable housing uplifts residents, reduces overcrowding, increases adjacent property values, attracts businesses and jobs, and lowers crime rates. Perhaps most importantly, Towne recognizes that affordable housing developments encourage diversity by creating communities where people of different cultural, socio-economic, and educational backgrounds can gain a better understanding of one another through relationships as neighbors and friends.'

Since 2013, TowneBank has committed over million in affordable housing investments, and we aren't done yet,' says Anne. 'We currently have another million in the pipeline for 2022.' The investments made to date have created over 3,400 homes for individuals and families – homes where the residents can focus on a productive and healthy future without worrying about the ability to make a monthly rent payment. 'TowneBank is proud to support the economic and social well-being of all the communities we serve through these important and life changing investments,' Anne adds. 'After all, serving others and enriching lives is what TowneBank is all about!'

Affordable Housing for Seniors – the