Franklin Federal Savings Bank

Franklin Federal Savings Bank was established on January 1, 1933, originally under the name Franklin Federal Savings and Loan Association. Over the decades, the institution underwent several name changes and organizational restructuring. On February 14, 1996, it was renamed Franklin Federal Savings and Loan Association of Richmond, and on August 14, 2001, it transitioned to a Stock Savings & Loan organization. The name changed again on April 25, 2009, to Franklin Federal Savings Bank. As part of regulatory changes, on July 21, 2011, the primary federal regulatory agency was switched to The Office of the Comptroller of the Currency. The bank's main office relocated to 4501 Cox Road in Glen Allen, Virginia, on September 19, 1994. Ultimately, on January 2, 2015, Franklin Federal Savings Bank merged with Towne Bank, headquartered in Portsmouth, Virginia. Subsequently, on November 15, 2022, the institution's name was changed to TowneBank, reflecting its integration into the larger banking organization.

Below is a list of some important events in banks history, including mergers and acquisitions.

1933-01-01Institution established. Original name: Franklin Federal Savings and Loan Association.

1994-09-19Main Office moved to 4501 Cox Road, Glen Allen, VA 23060.

1996-02-14Changed Institution Name to Franklin Federal Savings and Loan Association of Richmond.

2001-08-14Changed Organization Type to Stock Savings & Loan.

2009-04-25Changed Institution Name to Franklin Federal Savings Bank.

2011-07-21Changed Primary Federal Regulatory Agency to The Office of the Comptroller of the Currency.

2015-01-02Merged and became part of Towne Bank (35095) in Portsmouth, VA.

2022-11-15Changed Institution Name to TowneBank.