How your Personal Checking, Money Market, and Savings Accounts will Transition to TowneBank
We understand that changes to your banking relationship can feel overwhelming. That's why we've carefully matched your current personal accounts to comparable account options and are preserving many of the features you use today. Most importantly, you'll continue to work with local bankers who know you and your financial goals.
Your Benefits Continue
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Personal checking, savings, and money market accounts transition to comparable products.
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Personalized support from local bankers.
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Expanded access to offices across North Carolina, South Carolina, and Virginia.
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Online and mobile banking* access remains available.
Towne Classic Checking
For Basic Checking, Freedom Checking, Freedom Exempt, and Perks Plus Account Holders
Designed for everyday banking, Towne Classic offers the convenience and flexibility you rely on for managing your finances. You'll continue to enjoy unlimited transactions, online banking, mobile banking*, and convenient account access.
What to know:
- Monthly maintenance fees are waived through December 2027 for converting accounts.
- After December 2027, fees can be avoided by meeting balance requirements.
Towne Gold Checking
For Dogwood Complete and Perks Platinum Account Holders
Towne Gold is an interest-bearing checking account designed for members who maintain higher balances and want to earn interest while keeping funds accessible. Interest compounds daily.
What to know:
- Monthly maintenance fees are waived through December 2027 for converting accounts.
- Interest is earned on qualifying balances.
- Balance requirements can help avoid maintenance fees after December 2027.
Perks Checking Benefits
Perks Checking program benefits currently associated with Freedom Checking, Freedom Exempt, Perks Plus, and Perks Platinum accounts will end on November 1, 2026. Many similar services are available through other commonly used loyalty and rewards programs.
Towne Saver Account
For Regular Savings, Statement Savings, Junior Savings, and Minor Savings Account Holders
Towne Saver makes it easy to build and maintain savings while keeping your money within reach. Interest compounds daily, helping your savings continue to grow over time.
What to know:
- Maintenance fees are waived through December 2027 for converting members.
- Members age 62 and older continue to qualify for waived maintenance fees.
- A $300 minimum balance helps avoid monthly maintenance fees after December 2027.
- The first six external withdrawals or transfers each month are included. Additional transactions may incur a fee.
Health Savings Accounts
Health Savings Accounts will convert to an account with the same features at TowneBank. Please use this account for eligible transactions. TowneBank will issue a 2026 Form 1099-SA showing withdrawal activity. Notices for 2026 will be mailed in early 2027.
Money Market Accounts
Towne Investor
For Personal, DSB and Willow Consumer Money Market Account Holders
Towne Investor offers competitive interest-earning potential while maintaining convenient access to your funds. Interest compounds daily and is based on account balance tiers.
What to know:
- Maintenance fees are waived through December 2027 for converting accounts.
- A $2,500 minimum daily balance helps avoid monthly maintenance fees after December 2027.
- The first six external transactions each month are included.
Towne Market Master
For Azalea, Beech, Cedar, Cypress, Dogwood, Elm, Fig, Hickory, Magnolia, and Wisteria Consumer Money Market Account Holders
Towne Market Master provides tiered interest rates designed for members who maintain larger balances and want greater earning potential. Interest compounds daily.
What to know:
- Maintenance fees are waived through December 2027 for converting accounts.
- A $10,000 minimum daily balance helps avoid monthly maintenance fees after December 2027.
- Multiple balance tiers may provide higher earnings opportunities.
- The first six external transactions each month are included.
Frequently Asked Questions
Here are some common account questions we'd love to answer for you.
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TowneBank and Dogwood State Bank became a single FDIC-insured deposit institution on January 12, 2026. If you have combined deposit accounts at Dogwood and TowneBank that exceed the standard insured amount of $250,000, please talk to your banker for guidance. In some cases, accountholders may qualify for FDIC insurance coverage well above $250,000.
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Yes. The local bankers and teams you know and trust will continue serving you. You'll continue to receive the personalized service you've come to expect, now backed by the expanded resources and capabilities of TowneBank.
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Automatic payments and recurring drafts are expected to continue without interruption. We encourage you to review account activity after the transition and update your routing and account information as needed.
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Many checking, savings, money market, and CD account numbers will remain the same. Some accounts may require a new account number to align with TowneBank systems. Members whose accounts are changing will receive additional communication.
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Yes. Existing Dogwood checks and deposit tickets may continue to be used through December 31, 2027. When you're ready to order new checks, your banker can help ensure you have the correct routing and account information.
Who to Call for Support
Before November 2:
After November 2:
*Your mobile carrier’s web access and text messaging charges may apply. Availability may be affected by your mobile carrier's coverage area.