TowneBank
TowneBank (NASDAQ: TOWN) is trading at $36.36, about ₹3,488 at today's USD/INR rate, as of 25 Sep 2026, 4:00 PM ET, down 0.11% today. Indian residents can buy TowneBank from India on Paasa under the RBI's Liberalised Remittance Scheme.
Quote
Today's low
$36.17
Today's high
$36.54
52 week low
$31.91
52 week high
$39.03
TOWN opened at $36.21, closed previously at $36.40, and has traded between $31.91 and $39.03 over the past 52 weeks.
About
TowneBank functions as a comprehensive financial institution, delivering a wide array of retail and commercial banking services to individuals, businesses, and professionals. Its operations are structured across three primary divisions: Banking, Realty, and Insurance. Clients can establish diverse deposit accounts, such as checking accounts, standard savings, high-yield savings, certificates of deposit (CDs), and individual retirement accounts. The bank facilitates various lending solutions, including secured and unsecured personal loans for purchases like vehicles, home renovations, educational expenses, and individual investments. It also extends commercial loans designed for working capital, business growth, and the acquisition of equipment. Furthermore, TowneBank provides mortgage financing, encompassing general home loans and specialized loans for real estate acquisition, development, and construction. Beyond core lending and deposit offerings, TowneBank delivers practical services like safe deposit boxes, comprehensive treasury management, direct deposit for paychecks and government benefits, and automated transfers. Modern banking conveniences are also available through its online, mobile, and on-call platforms. Moreover, it supports investors with documentation for tax deferral, offers expertise in investment and asset management, and provides commercial mortgage brokerage. The institution also delivers a suite of financial planning services, including retirement and estate planning, and guides clients through diverse investment opportunities like alternative investments, annuities, margin accounts, convertible bonds, and pension and profit-sharing programs. Its realty division handles residential real estate services, including relocation assistance, property management, vacation rentals, and title and settlement processes. It also originates residential mortgage loans. Through its insurance arm, TowneBank furnishes various types of coverage, such as life, property, casualty, and auto insurance. It additionally administers employee benefits packages, encompassing health, dental, vision, and disability insurance. TowneBank maintains a regional presence across Richmond and the greater Hampton Roads area in southeastern Virginia, extending into northeastern North Carolina, Raleigh, Charlotte, Greensboro, and Greenville, North Carolina. Founded in 1998, TowneBank's corporate headquarters are situated in Portsmouth, Virginia.
Key statistics
Avg. volume
608.89K
Market cap
$3.35B
P/E Ratio
10.18
Price-to-sales ratio
2.58
Enterprise value
$3.64B
Free cash flow yield
3.93%
Debt-to-equity ratio
0.15
Return on equity
11.66%
ROIC
1.39%
Beta
0.69
Dividend yield
4.95%
Last dividend
$1.80
Financial overview
Revenue
$1.01B
Earnings per share
$2.22
Free cash flow
$211.67M
Net profit margin
24.14%
Gross margin
75.99%
EBITDA
$250.44M
Revenue growth
-1.61%
Similar securities
This is not an investment recommendation
How to buy TowneBank from India
Indian residents can buy TowneBank shares through Paasa in four steps. Funds leave India under the RBI's Liberalised Remittance Scheme and the shares are held in your own name with Interactive Brokers.
Open a Paasa account
Complete digital KYC with your PAN, Aadhaar and address proof. Your brokerage account is opened in your own name with Interactive Brokers.
Add funds under LRS
Transfer INR from your Indian bank account. Your bank reports the remittance under the RBI's Liberalised Remittance Scheme and converts it to US dollars.
Search for TowneBank and place an order
Find TowneBank by name or by its ticker, TOWN, and choose an order type. You can buy by amount or by quantity — fractional shares mean there is no minimum trade size. TowneBank trades 7:00 pm – 1:30 am IST; orders can only execute during that window.
Track holdings and download tax reports
Follow your TowneBank position in USD and INR, and use Paasa's capital-gains and dividend statements when you file your Indian return.
Read the full guide: how to invest in TowneBank from India
Trading and taxes when buying TowneBank from India
Trading and limits
- Trading hours
- 9:30 am – 4:00 pm ET
- LRS limit
- $250,000Per financial year, under the RBI's Liberalised Remittance Scheme.
Tax for Indian residents
- TCS on remittance
- 20%Collected by your bank on LRS remittances above ₹10 lakh in a financial year. The TCS is adjustable against your income-tax liability.Adjusting TCS against your tax
- Capital gains in India
- 12.5% or slab rateGains on shares held for more than 24 months are long-term and taxed at 12.5%. Gains on shares held for 24 months or less are short-term and taxed at your income-tax slab rate.Capital gains explained
- Dividends
- Slab rateDividends are taxed at your slab rate in India. The US withholds tax on dividends paid to Indian residents at the treaty rate; Paasa files Form W-8BEN for you, and the tax withheld can generally be claimed as a credit in India. TowneBank’s current yield is 4.95%.Dividend tax explained
- US estate tax
- May applyUS-situs assets such as US-listed shares can be exposed to US estate tax for non-US persons.US estate tax calculator
Custody. Shares are held in your own name at Interactive Brokers LLC and are SIPC-insured up to $500,000 in total, including $250,000 for cash.
FAQs
Can Indian residents buy TowneBank stock?
Yes. TowneBank (TOWN) has been listed on NASDAQ since 1999, in the Banks - Regional industry, and Indian residents can buy it through Paasa. You fund the account from your Indian bank under the RBI's Liberalised Remittance Scheme and the money is converted to US dollars. Shares are held in your own name at Interactive Brokers LLC and are SIPC-insured up to $500,000 in total, including $250,000 for cash.
How much does one TowneBank share cost in rupees?
One TowneBank share is $36.36 — about ₹3,488 at a USD/INR rate of 95.92 on 25 Sep 2026. Both the TowneBank price and the rupee rate move during the day, so the rupee cost changes with them.
What are the LRS and TCS rules for buying TowneBank from India?
Remit up to $250,000 per financial year under the RBI's Liberalised Remittance Scheme (LRS). Banks collect 20% tax at source on LRS remittances above ₹10 lakh in a financial year; the TCS is adjustable against your income-tax liability. FX and the LRS declaration are handled by your bank when you fund your account.
Can I buy whole shares of TowneBank?
Yes. One TowneBank share is $36.36, and you can buy as many whole shares as you like. You can also buy by amount rather than by quantity: there is no minimum trade size, and Paasa supports fractional investing in TowneBank.
How are gains on TowneBank shares taxed in India?
The US does not levy capital gains tax on shares for Indian residents, so the tax is an India-side one. Gains on shares held for more than 24 months are long-term and taxed at 12.5%. Gains on shares held for 24 months or less are short-term and taxed at your income-tax slab rate. The gain is computed in rupees using the USD/INR rate on the purchase and the sale date, so the rupee move counts alongside the TowneBank price. Paasa issues a capital-gains statement for your return.
Does TowneBank pay a dividend, and how is it taxed in India?
Yes. TowneBank pays a dividend and the current yield is 4.95%; the last declared dividend was $1.80 per share, about ₹172.66. Dividends are taxed at your slab rate in India. The US withholds tax on dividends paid to Indian residents at the treaty rate; Paasa files Form W-8BEN for you, and the tax withheld can generally be claimed as a credit in India. Paasa's dividend report lists the gross dividend and any tax withheld for each payment.
When can I trade TowneBank from India?
NASDAQ trades 7:00 pm – 1:30 am IST in Indian time, so the close lands after midnight. The window shifts to 8:00 pm – 2:30 am IST when the US is on standard time. Orders can only execute during that window.
Is there estate or inheritance tax on TowneBank shares held from India?
US-situs assets such as US-listed shares can be exposed to US estate tax for non-US persons. It applies to your overall holdings in that jurisdiction rather than to any one position. Paasa's US estate tax calculator shows the exposure for a given portfolio value.
Do I have to declare TowneBank shares in my Indian tax return?
Yes. Foreign shares held on 31 March must be reported in Schedule FA of your Indian income-tax return. Paasa gives you a Schedule FA-ready statement listing your TowneBank holding, its cost and its closing value.
How do I sell TowneBank and bring the money back to India?
You sell during market hours (7:00 pm – 1:30 am IST) and the proceeds settle in USD in your Paasa account. From there you can hold the balance, reinvest, or repatriate. Funds can be withdrawn in any currency to any bank account in your own name. Whether the sale is short- or long-term is decided by the 24-month holding period.