TowneBank Reviews | Glassdoor

TowneBank Reviews

Updated December 16, 2016
18 reviews

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Full-time Part-time

3.7
Star Star Star Star Star
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Approve of CEO
TowneBank Chairman and CEO G. Robert Aston Jr.
G. Robert Aston Jr.
8 Ratings

18 Employee Reviews

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  1. Helpful (1)

    "Member Service Specialist"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Member Services Specialist in Richmond, VA
    Former Employee - Member Services Specialist in Richmond, VA
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at TowneBank full-time (More than 5 years)

    Pros

    Vacation time, sick time, benefits, and members.

    Cons

    Upper management has their favorites, yearly reviews but no raises, Richmond branches are treated differently than branches in Suffolk. Branch Managers, Member Service Representatives, and Member Service Specialist aren't paid fairly.


  2. Helpful (2)

    "Use TowneBank as a stepping stone"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Operations in Suffolk, VA
    Former Employee - Operations in Suffolk, VA
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at TowneBank full-time

    Pros

    The TowneBank café in Suffolk has really good Chicken Salad sandwiches. Beautiful work environment. Good place to gain corporate work experience while you look for another job.

    Cons

    Poor salary, benefits were not that great. Little to no 401k match. Very incestuous....must be the child of a VP or better in order to advance or you will forever be paid a measly $30-40k/yr. Management team is void of any leadership. There's no money to be made in commercial banking unless you're at the top. I trade futures now.

    Advice to Management

    Start paying to keep talent. I took a job with another company and my salary literally doubled overnight. New company matches my 401k contributions 50% all the way up.


  3. "Great Place"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends

    Pros

    Co-workers, management, end of year bonuses.

    Cons

    Did not receive a review or raise in the almost two years I worked there. Compensation is on the low end.


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  5. "Teller"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Teller in Norfolk, VA
    Former Employee - Teller in Norfolk, VA
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Great place and people great vacation

    Cons

    Nothing really. It was kind of boring


  6. "Excellent Resume Booster"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Intern - Hourly in Suffolk, VA
    Former Employee - Intern - Hourly in Suffolk, VA
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Great experience in a real business setting with people who are willing to help you along the way. It varies from whose management you get placed under, but I always was offered guidance. They do a great job of actively creating a company culture and it will open up opportunities further down the road. Also as an intern you max out at 40 hours a week, which for me meant a lot of leaving early on Fridays.

    Cons

    Make sure to have a few suit jackets to switch between. It is professional dress even if you never see a client the entire time you work there.


  7. Helpful (1)

    "Mortgage Loan Officer"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Mortgage Loan Officer in Richmond, VA
    Former Employee - Mortgage Loan Officer in Richmond, VA
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at TowneBank full-time

    Pros

    They are a first class company that had the highest quality of facilities. They do a lot to be involved in the community and they are growing at a very fast rate.

    Cons

    They have trouble keeping enough people on the backend to support their volume of production. It can be a difficult place to start. It is very much a "sink or swim" environment.

    Advice to Management

    Create training programs to bring in young talent. Of the dozen or so I've seen go through the only that have survived had preexisting relationships to carry them through.


  8. Helpful (1)

    "Work Review"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at TowneBank full-time

    Pros

    The work environment is absolutely stunning...I feel like I am working at 5 star restaurants or 5 star hotels at every TowneBank office I have to do work in. Also the work in and of itself is not hard at all for the most part and the people are friendly

    Cons

    Benefits are really good but are somewhat expensive and communication isn't always the best between co-workers; you have to sometimes pull teeth to find out changes that are being made to the technology environment

    Advice to Management

    communicate a little bit more often with junior staff on changes being made to the environment other then that everything else is great!


  9. Helpful (2)

    "Good first job"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Mortgage in Suffolk, VA
    Former Employee - Mortgage in Suffolk, VA
    Recommends
    Neutral Outlook
    Approves of CEO

    I worked at TowneBank full-time (More than 3 years)

    Pros

    Great benefits and nice environment

    Cons

    Upper management is all political and make a lot more than all other employees

    Advice to Management

    Promotions should be based on merit and nepotism


  10. Helpful (1)

    "Great Place to work"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Loan Coordinator in Virginia Beach, VA
    Current Employee - Loan Coordinator in Virginia Beach, VA
    Recommends
    Positive Outlook

    I have been working at TowneBank full-time

    Pros

    Great place to work, room for growth, care about their employees

    Cons

    it is always cold lol that its

    Advice to Management

    continue what your doing


  11. Helpful (6)

    "Happiness with job depends on location and supervisor/manager."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at TowneBank full-time

    Pros

    Vacation and sick leave is good. Most people can walk in off the street and get three weeks paid. Monday thru Friday work week paid holidays off. Tellers and a few other job types get a clothing allowance depending on either Full or Part time status. Training opportunities and advancement opportunities if willing to relocate and "drink the TowneBank Kool-Aid". There are opportunities to make extra money in branches if you sell credit cards ($10 to $20 per card) or make referrals to your local Raymond James representative for Annuities. I know others have flexible schedules and are happy with it.

    Medical/Dental/Vision/401k/Life Insurance/Aflac/Long Term Care/HSA all available. Profit sharing bonuses each February/March based on bank performance.

    Cons

    Truth about the clothing allowance for tellers: you get $600 twice a year for full time or $300 twice a year if you part time. Unless you work 5 days a week you are considered "part time". So you can work 4 days a week and get the same allowance as someone who works two. Doesn't really add up when you consider that most suits cost $150. Not to mention the costs of dry cleaning, assuming you have a decent one to choose from. Employees pay the taxes associated with the clothing allowance which is randomly taken out from a paycheck without a notice of the deduction in advance.

    Everything is super hush, hush. Depending on where you are in the company (location and department) depends on what you know. Case in point: TowneBank branch gets robbed, ends up all over internet/social media, etc. The only notification received from Senior Management was three days later telling everyone to keep their mouths shut, not to talk to the media and reference to the employee handbook about "conduct on the internet". Let's be honest, I don't expect a play by play, but when you work with the public, my customer base shouldn't know more about what is going on than the employees...you look and feel like an idiot. How hard is it to send an email about "the incident" Seriously?

    Don't bet on getting a raise for an exemplary review, those are only given every three years across the board depending on the how well the bank is doing financially. (Which by the way every quarter and every year is a "record profit" over the previous time frame). There are constantly emails coming out about people getting promoted at corporate to VP of this or EVP of that. While I am sure that these folks have worked hard and no doubt deserve to be recognized for that, people on the front lines in branches work everyday DIRECTLY with members who invest their money in this institution. Shouldn't we thank them with a promotion or raise?

    The bank runs promotions for credit card sales and I sell them on a pretty regular basis but not every branch will have the clientele that wants or qualifies for credit. The annuities campaign sounds good, you just have to make of referral for someone who has $25k to invest and is willing to sit and chat...that's it. Not so fast. Your representative has to actually call the person and set up an appointment to chat, which doesn't happen. Then the members call back or stop by and say they never received a follow up...and the money goes elsewhere. Hasn't anyone in TowneBank figured out why an entire region never has any "qualified referrals"? Must be too busy drinking the Kool-Aid at Headquarters to figure that one out.

    Branch Managers, Commercial and Private Bankers have goals and make Chairman's Club (read: Bonus Money) based on meeting or exceeding those goals. So those folks have to talk to current members about deepening their relationship with TowneBank and also have to go out and get new business. That is generally how sales works. People step on other people's toes and the next level up constantly takes credit for the "underlings" work. No different at Towne. My supervisor (among several others I know of) do not attempt to leave the branch to get new business. Rather they take walk in business and code it to themselves or after the underling (me) does the hard work of talking them up, getting a entire relationship (personal account, business account, credit card and line of credit) you get this: "Wow that is really great, go ahead and code that to me". Wait, what?! What did you do? Response is "you don't get credit for business coming in" Fair enough however if you didn't do anything to get them to walk in the door why should you get credit for something you didn't do? This is an act of desperation folks. You see this is after they (Branch Managers, Loan Officers) have worked to get almost an entire new relationship (or a big extension of an existing one) just to have their boss sweep out from under them and take credit for it. How is that for empowering your folks?

    Company wide "Family Dinner's" are eerily similar to a pyramid scam company. Music, lights, a big group of people singing and pulling people up on stage. It was very uncomfortable.

    The bank is constantly looking for ways to save money while they spend money like it's going to expire. They cut staff in branches and various departments to save money and expect the same level of work output. The buildings while beautiful, are over the top, extravagant really. They say they want employees and bank members to "feel pride" where they are. I feel it's really more of showing off. We were under a "hiring freeze" for some time and that's because Senior Management was busy plotting the Towne takeover of other companies and banks. If I am not mistaken, TowneBank acquired 4 different companies over the course of 2014. As the company grows so does Bureaucracy and with each merger the Hometown banking diminishes a bit more.

    Advice to Management

    I think I have hinted enough thus far that changes are needed and that there is a lack of leadership in some areas. I would be positive about it if I thought it would make a difference.



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