What to do when a TowneBank account holder dies
Contact TowneBank's Towne Trust — 3-step process, 9 required documents, and 7-14 business days after receipt of complete documentation
Towne Member Care
TowneBank, 297 Constitution Dr, Virginia Beach, VA 23462
Death Claims / Processing Services
TowneBank, Attn: Processing Services, P.O. Box 2818, Norfolk, VA 23501
After an account holder at TowneBank dies, accounts with beneficiary designations or trust ownership transfer to the designated recipients without probate. Solely-owned accounts require the estate's representative to contact TowneBank's Death Claims / Processing Services at 1-844-638-6714 with the proper legal authority documents.
Before contacting TowneBank, have the account holder's full name, date of birth, and any available account numbers ready. A certified death certificate is required to initiate the claim.
Deposit, investment & retirement accounts
The death claim process at TowneBank works as follows:
Filing a claim
- Contact TowneBank Towne Member Care at 844-638-6714 or visit any branch location to report the death of an account holder
- For accounts with POD beneficiary designations: provide a certified copy of the death certificate and beneficiary identification
- For joint accounts with right of survivorship: provide a certified copy of the death certificate to remove the deceased from the account
- For accounts without beneficiary designations: obtain Letters Testamentary or Letters of Administration from the probate court
- For trust accounts: provide the death certificate, trust documentation, and successor trustee identification
- For IRA accounts: provide the death certificate, beneficiary ID, and applicable distribution forms
- Submit all required documents in branch or by mail
- TowneBank will review documentation and process the claim
Required Documents
- Certified copy of the death certificate
- Valid government-issued photo ID for the beneficiary, executor, or successor trustee
- Account information for the deceased (account numbers, if available)
- For accounts without beneficiary: Letters Testamentary or Letters of Administration from probate court
- For accounts without beneficiary: Small estate affidavit (if applicable under state law)
- For trust accounts: trust documentation including successor trustee provisions
- For trust accounts: successor trustee identification and proof of authority
- For IRA accounts: IRA distribution or transfer forms
- Written instructions for distribution preference (new account, transfer, or check)
What to know at this institution
Overnight mailing address: TowneBank, Attn: Processing Services, 6005 Harbour View Blvd., Suffolk, VA 23435. For Towne Trust administered accounts, contact the Towne Trust division at 757-599-2200 for estate settlement coordination. Distribution options include opening a new TowneBank account, transferring to an existing account, or requesting a check.
Mortgage and home lending
Mortgages and home equity loans are liabilities, not assets. They do not have beneficiaries and cannot be retitled to a trust. When a borrower dies, the loan obligation transfers with the property to whoever inherits it. Under the federal Garn-St. Germain Act, the lender cannot accelerate the loan or call it due when the property transfers to a surviving spouse, child, or the borrower’s revocable trust.
- Call TowneBank Mortgage at (888) 637-1321 or general customer service at 844-638-6714
- Provide the deceased borrower's full legal name, Social Security number, and loan number
- Submit a certified copy of the death certificate
- Request to be recognized as a Successor in Interest under CFPB mortgage servicing rules
- Provide documentation proving your ownership interest in the property (e.g., probated will, court order, deed, trust document, or marriage certificate)
- TowneBank will review your documentation and confirm your status as a Successor in Interest
- Once confirmed, you will have access to loan information and account details
- Discuss available options: continue making payments, apply for loss mitigation, assume the loan, refinance, or pay off the balance
- Continue making monthly mortgage payments during the review process to avoid default
Required Documents
- Certified copy of the death certificate
- Government-issued photo ID for the heir or personal representative
- Documentation proving ownership interest in the property: probated will, court order, recorded deed, trust document, or marriage certificate
- Letters Testamentary or Letters of Administration (if going through probate)
- Loan number and borrower information
What to know at this institution
Under the federal Garn-St. Germain Depository Institutions Act (12 U.S.C. § 1701j-3), TowneBank cannot enforce a due-on-sale clause when the property transfers to a surviving spouse, child, relative upon death, or the borrower's revocable living trust. Confirmed Successors in Interest are treated as borrowers under CFPB mortgage servicing rules and are entitled to account information, loss mitigation options, and assumption rights. For loan payoff information: 844-673-1511. General customer service (Towne Member Care): 844-638-6714. TowneBank Mortgage: (888) 637-1321.
Prepare your letter of instruction to TowneBank
TowneBank accepts a claimant-drafted letter of instruction. We draft it for you — addressed to TowneBank's verified claims department, with the documents it requires enclosed.
Build your letter of instructionOpening an account for the estate itself
Checks made out to the estate deposit into an account titled to the estate, opened by the appointed executor or administrator under the estate's EIN.
How to open an estate account at TowneBank →How long the process takes at TowneBank: 7-14 business days after receipt of complete documentation. The most common reason for delays is missing or incomplete documentation, so submitting everything upfront is the best way to keep things moving.
TowneBank requires several documents to process a claim, including Certified copy of the death certificate, Valid government-issued photo ID for the beneficiary, executor, or successor trustee, and Account information for the deceased (account numbers, if available), and additional documentation depending on the account type. Certified copies are typically needed—photocopies are generally not accepted for death certificates or court documents.
Frequently asked questions
TowneBank. All three banks are now part of TowneBank: Village Bank and Trust Financial Corp. (April 1, 2025), The Old Point National Bank of Phoebus (September 1, 2025 — FDIC Cert. 6892 closed that date), and Dogwood State Bank (January 12, 2026 — FDIC Cert. 57095 closed that date). Dogwood offices still carry the "Dogwood State Bank, a Division of TowneBank" banner until systems conversion, but the deposits are TowneBank deposits. Report the death to Towne Member Care at 844-638-6714 or at any TowneBank office, and bring statements or checks in the old bank's name so the account can be located under its converted number.
No, and the difference matters when settling an estate. Towne Trust is the fiduciary arm (trustee and successor-trustee service, trust administration, and estate settlement coordination) and is reached at 757-599-2200; it absorbed Old Point Trust & Financial Services, N.A. in the 2025 Old Point merger. Towne Wealth Management is the investment side: securities are offered through Raymond James Financial Services, Inc. (member FINRA/SIPC), and TowneBank and Towne Wealth Management are not registered broker-dealers. Investment accounts held through Towne Wealth Management are not bank deposits and are not FDIC insured, so they settle through Raymond James's transfer-of-account process rather than the bank's deposit claim process.
Yes. TowneBank deposit accounts are FDIC insured (FDIC Cert. 35095). Revocable trust accounts, including POD accounts, are insured up to $250,000 per qualifying beneficiary per owner, so an account with three unique beneficiaries is insured up to $750,000. CDARS accounts spread a large deposit across a network of banks through IntraFi so the full balance stays within FDIC limits. Coverage on a POD account continues for six months after the owner's death, which gives an executor or beneficiary time to reorganize the accounts.
Not without proof of authority. With no POD beneficiary and no surviving joint owner, the account belongs to the estate, and TowneBank asks for a certified death certificate plus Letters Testamentary or Letters of Administration from the probate court, or a state small-estate affidavit where the estate qualifies. TowneBank's two core states both have a small-estate path that a bank must honor. Virginia: a designated successor may collect a "small asset" of $75,000 or less at least 60 days after death using the mandatory affidavit form CC-1685 (Va. Code 64.2-600, 64.2-601), and Va. Code 64.2-602 lets a holder pay a small asset of $35,000 or less to a successor after 60 days without any affidavit. North Carolina: collection by affidavit (AOC-E-203B) 30 days after death where personal property net of liens does not exceed $20,000, or $30,000 where the affiant is the surviving spouse and sole heir (N.C.G.S. 28A-25-1). Documents go to any office or to TowneBank, Attn: Processing Services, P.O. Box 2818, Norfolk, VA 23501.
TowneBank's Death Claims / Processing Services can be reached by phone at 1-844-638-6714 for questions throughout the claims process.
Multiple TowneBank accounts may mean multiple claims. Some account types can be processed together, but others require their own documentation. Check with the Death Claims / Processing Services to confirm what applies.
Sources
Data sourced from TowneBank primary sources (25 pages reviewed). How we research.
Towne Member Care
TowneBank, 297 Constitution Dr, Virginia Beach, VA 23462
Death Claims / Processing Services
TowneBank, Attn: Processing Services, P.O. Box 2818, Norfolk, VA 23501
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