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TowneBank Revises EDA Money Market Account Terms

Norfolk Economic Development Authority
Document date
May 6, 2026

The 30-second brief

What it covers

The EDA reached revised account terms with TowneBank for its money market account. TowneBank agreed to increase the interest rate and lower fees, although the minutes do not state the specific financial terms.

Who holds it

TOWNEBANK holds this financial services contract with Norfolk Economic Development Authority. Its other public contracts on record include work for Live Oak County and Isle of Wight County.

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Contract details

Contract type
Financial Services
Document date
May 6, 2026
Vendor
TOWNEBANK
Agency
Norfolk Economic Development Authority
Source document
Economic Development Authority of the City of Norfolk Minutes May 6, 2026 (Minutes)

TOWNEBANK's other public contracts

Live Oak County, TexasCounty Reports TowneBank Investment Holding · Aug 31, 2026Isle of Wight County, VirginiaTowneBank Recognized as Fair Sponsor · Aug 20, 2026UndisclosedReaching Across Illinois Library System (Rails), IllinoisRAILS Reports Townebank Certificate of Deposit · Jul 17, 2026UndisclosedCity of Suffolk, VirginiaTowneBank Sponsorship Accepted for Library Festival · Jul 1, 2026UndisclosedCity of Virginia Beach, VirginiaTowneBank Listed as Financial Services Provider · Jun 2, 2026UndisclosedAll TOWNEBANK contractsVendor profile

More Norfolk Economic Development Authority contracts

Woods Rogers Vandeventer BlackBond Indenture Resolution Involves Woods Rogers Counsel · Oct 7, 2026UndisclosedKaufman & CanolesEasement Amendment Update Involves Kaufman & Canoles · Oct 7, 2026UndisclosedMCLESKEYNorfolk Authority to Consider McLeskey Contract Extension · Sep 2, 2026UndisclosedDIVARISDivaris Approved to Open Accounts for City · May 6, 2026UndisclosedROSSRoss Considered for Military Circle Mall Demolition · May 6, 2026UndisclosedAll Norfolk Economic Development Authority activityAgency profile

Questions about this contract

Who was awarded the financial services contract by Norfolk Economic Development Authority?

TOWNEBANK was awarded this financial services contract by Norfolk Economic Development Authority, as recorded on May 6, 2026.

What type of contract is this?

This is a Financial Services contract, documented as a minutes record.

Where was this contract approved?

This contract appears in Economic Development Authority of the City of Norfolk Minutes May 6, 2026 (Minutes), dated May 6, 2026 from Norfolk Economic Development Authority. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does TOWNEBANK hold?

TOWNEBANK may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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