TowneBank
76
Plan:
TowneBank 401k Retirement Savings Plan
22
66
87
0
10
20
30
40
50
60
70
80
90
100
For the average 401k participant, the 11 point difference between this plan's BrightScope Rating (76) and the top rated plan (87) could equate to:
[How is this calculated?]
[How is this calculated?]
7 additional years of work Up to $78,800 in lost retirement savings.The delay in retirement calculations apply solely to this defined contribution plan and do not take into account other retirement plans and programs offered by this employer.
Retirement Plan Description
TowneBank 401k Retirement Savings Plan is a defined contribution plan with a profit-sharing component, 401k feature, and leveraged ESOP component. This plan has a BrightScope Rating of 76, placing it in the top 15% of all plans in its peer group. This plan is also in the top 15% of plans for Company Generosity and Total Plan Cost. TowneBank 401k Retirement Savings Plan currently has over 1,000 active participants and over $44.2M in plan assets.
Retirement Plan Details
| Address |
6001 Harbour View Blvd
Suffolk, VA 23435 |
| Industry | Commercial Banking |
| Administrator | Kimberley Ritter |
| Net Plan Assets | $44,200,000 |
| Total Participants | 1,000 |
| Avg Account Balance | $45,000 |
Compare Other Companies in Peer Group
| Renasant | 71.4 |
| Cathay General Bancorp | 71.2 |
| WSFS Financial | 68.1 |
| Community Trust Bancorp | 63.3 |
| Bank of the Ozarks | 54.6 |
| Carter Bank & Trust | 42.2 |
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