What is TowneBank's AI strategy?
TowneBank has no published AI strategy; what exists is vendor AI in use, a new technology chief and a risk disclosure. Its 10-K for 2023, filed with the FDIC on February 28, 2024, does not mention artificial intelligence; the 10-K for 2024, filed February 28, 2025, added a stand-alone risk factor saying the bank or its vendors 'may develop or incorporate AI technology', and the 2025 10-K (February 27, 2026) kept it and added AI to the summary risk list and the cyber risk factor. In operations, member service runs on Talkdesk, where the bank 'initially focused on AI features that enhanced, rather than replaced, human interactions' (Talkdesk Copilot and Interaction & Quality Analytics), and Talkdesk gave TowneBank an honorable mention in its October 2025 CX Innovators Awards. Microsoft Copilot is installed on bankers' computers but 'not being widely used', per a UNC Greensboro capstone of June 22, 2026. Varun Chandhok became senior EVP and chief information officer in February 2026 to 'further advance our technology strategy'; he reports into chief operating officer Lee Clark, whose remit includes information technology and data governance. No AI leader, AI budget or model inventory has been disclosed.[1][2][3][4][5][6][7][8]
Data as of Oct 16, 2026 · TowneBank profile updated Oct 13, 2026 · 21 sources cited on this page · 140 banks profiled on this site · Markdown
What has TowneBank said or filed about AI, and when?
Everything on the public record in date order. TowneBank files with the FDIC, not the SEC; its earnings releases for the fourth quarter of 2025 and the first two quarters of 2026 do not discuss AI.
| Date | Item | What it says | Who |
|---|---|---|---|
| February 28, 2024 | 2023 10-K | No reference to artificial intelligence, machine learning or generative AI; the cyber risk factor cites 'the proliferation of new technologies' | TowneBank (FDIC filing)[1] |
| May 22, 2024 | SAS case study | 15 years of data in a SAS warehouse; the CECL framework is reused to 'anticipate' member needs; SAS calls itself a 'data and AI leader' | Erich Reuter, EVP Quantitative Analytics and Enterprise Stress Testing[9] |
| February 28, 2025 | 2024 10-K: first AI risk factor | 'The development and use of Artificial Intelligence ("AI") presents risks and challenges'; covers evolving AI law, incorrect or biased generative output, limited transparency and reliance on third-party models | TowneBank (FDIC filing)[2] |
| April 2, 2025 | 2025 proxy: director with machine-learning research | Director Sachin Shetty (since 2024), an Old Dominion University professor whose research lies 'at the intersection of computer networking, network security and machine learning', is cited for cybersecurity and data-privacy expertise | Board of directors[10] |
| June 18, 2025 | CIO interview | 'I believe there's nothing AI can't fix or help with'; Talkdesk named as a partner; 'we treat vendors as partners' | Denys Diaz, CIO (2025)[11] |
| September 25, 2025 | Talkdesk customer story | Started with Talkdesk Copilot and Interaction & Quality Analytics; AI features that enhance rather than replace human interactions | Talkdesk; Michelle Davis, VP Systems Analyst[4] |
| October 30, 2025 | Talkdesk CX Innovators Awards | Honorable mention in the Ultimate Innovator category, for companies that 'leveraged Talkdesk technology in innovative ways' | Talkdesk[5] |
| February 17, 2026 | New CIO | Varun Chandhok named senior EVP and CIO to 'further advance our technology strategy' and 'expand our technology capabilities' | Lee Clark, COO[7] |
| February 27, 2026 | 2025 10-K | AI added to the summary risk list and to the cyber risk factor ('the proliferation of artificial intelligence'); the stand-alone AI risk factor retained | TowneBank (FDIC filing)[3] |
| June 22, 2026 | Copilot capstone | Copilot installed but 'not being widely used'; MBA team delivered a prompt manual and a plan to train bankers to use it 'safely and responsibly inside the bank's private network' | Scott Baker, Triad president; UNC Greensboro[6] |
| May 7 and August 6, 2026 | 2026 10-Qs | No reference to artificial intelligence in either quarterly report | TowneBank (FDIC filings)[12][13] |
Who is responsible for AI and technology at TowneBank?
No one carries an AI title. Technology sits with Varun Chandhok, senior executive vice president and chief information officer since January 2026, who the bank says 'oversees the company's technology strategy, drawing on expertise in enterprise architecture, data analytics, and risk management'. He came from WesBanco Bank (CIO) and Premier Bank (chief information and operations officer) after two decades in business-line CIO roles at M&T Bank.[14][8][3]
Chandhok was introduced by chief operating officer Lee Clark, who 'oversees bank operations, including deposit and loan operations, information technology and data governance, and project management'. Risk sits with chief risk officer Ernest Piccioli, who oversees 'the risk management and vendor management teams', which matters because the AI the bank uses arrives inside vendor platforms such as Talkdesk and SAS.[7][8][4][9]
At board level, cyber and technology risk report to the Enterprise Risk Management Committee; no AI committee or AI policy has been disclosed. The one director whose biography mentions machine learning, Sachin Shetty, is listed in the 2025 and 2026 proxies for cybersecurity and data-privacy expertise.[15][10]
What has TowneBank not disclosed about AI?
There is no AI strategy document, AI budget, model inventory, head of AI, chief data officer or AI governance policy on the record. The 10-K risk factor is written in the conditional ('may develop or incorporate AI technology') and names no system. The two 2026 quarterly reports filed with the FDIC do not mention AI at all.[3][12][13]
Results figures come from vendors, not the bank: Talkdesk reports a 23-second reduction in average handle time, a 97% satisfaction rate and 200-plus simultaneous calls handled during a system conversion. The bank has published no usage numbers for Microsoft Copilot; the only productivity example is an assistant vice president who said Copilot turned financial-statement data into a customer graphic in under two minutes instead of 'an hour or two'.[4][16][6]
What does the TowneBank profile record on this topic?
The rows below are the entries of the TowneBank AI strategy profile that bear on this page, as of Oct 13, 2026; the profile holds the full record of 24 dated moves, 12 use cases and 21 sources.
| Use case | What the record shows | Status | Source |
|---|---|---|---|
| Talkdesk cloud contact centre with Talkdesk Copilot | Member service runs on Talkdesk's cloud contact-centre platform, starting with Talkdesk Copilot agent assistance and Interaction & Quality Analytics; Talkdesk reports a 23-second cut in average handle time and a 97% satisfaction rate (vendor-reported). | In production | [11][4][16][17] |
| Microsoft Copilot for bankers | Copilot is installed on bankers' computers but rarely used by many; a UNC Greensboro MBA capstone recommended meeting-preparation uses, a prompt manual and a training plan for safe use within the bank's private network. | Rolling out | [6] |
| AI risk-factor disclosure | A stand-alone 10-K risk factor: evolving AI regulation, incorrect or biased generative-AI output, limited transparency of AI models, and dependence on third-party model developers. | In production | [3] |
| Acquisition integration (Old Point, Dogwood) | Integration of Village (April 2025), Old Point (September 2025) and Dogwood State Bank (January 2026) across Virginia and the Carolinas; the 10-K names system-conversion delays among technology risks, and Talkdesk reports its contact centre handled 200+ simultaneous calls during a system conversion. | In production | [3][18][16] |
| Board-level risk oversight covering cyber and technology risk | The Enterprise Risk Management Committee oversees the enterprise risk programme, which lists cyber and security risk, operational risk and Bank Secrecy Act/anti-money-laundering compliance, and receives reports on actual or potential security breaches; chief risk officer Ernest Piccioli is its non-voting secretary. No AI-specific committee or policy is disclosed. | In production | [15][3] |
| Copilot for meeting preparation and document review | Suggested uses are summarising industry trends, drafting meeting briefs, reviewing appraisals and credit memos, and turning handwritten notes into to-do lists; assistant vice president Jon Fulton used Copilot to turn financial-statement data into a customer graphic in under two minutes, a task he said would take an hour or two. | Pilot | [6] |
| Talkdesk agent assist across loans, cards and online banking | Talkdesk says member support was unified across loans, cards and online banking, with real-time insights, automated summaries and AI-driven knowledge for agents; the bank chose AI features that enhance rather than replace human interactions (vendor description). | In production | [4] |
| Customer education on AI scams | Voice cloning and deepfake awareness. | In production | [19] |
| Date | Move | Detail | Source |
|---|---|---|---|
| Aug 18, 2026 | Talkdesk cites TowneBank as an automation reference | Talkdesk's bank-branch launch points to TowneBank and Merchants Bank as financial organisations scaling customer engagement with automation. | [17] |
| Aug 6, 2026 | Second-quarter 2026 10-Q filed with the FDIC | No reference to artificial intelligence; banking-segment data-processing expense was $3.20 million, up 12.5% from $2.84 million; banking segment had 2,011 full-time equivalent employees. | [13] |
| Jun 22, 2026 | UNCG MBA capstone on Microsoft Copilot adoption | Students recommended meeting-preparation uses, a prompt manual and a training plan for using Copilot safely within the bank's private network. | [6] |
| May 14, 2026 | Guide to recognising AI scams | Voice cloning and deepfake videos. | [19] |
| May 7, 2026 | First-quarter 2026 10-Q filed with the FDIC | The quarterly report contains no reference to artificial intelligence, generative AI or machine learning. | [12] |
| Apr 22, 2026 | First-quarter 2026 results | Dogwood added $1.95 billion of loans and $1.93 billion of deposits; reported EPS $0.45, core EPS $0.74; the release does not mention AI. | [20] |
| Feb 27, 2026 | 2025 10-K: stand-alone AI risk factor | AI law is 'uncertain and rapidly evolving'; generative models may produce incorrect or biased output; opacity complicates explaining decisions; third-party models limit visibility. | [3] |
| Feb 17, 2026 | Varun Chandhok named chief information officer | Ex-WesBanco CIO; mandate to expand technology capabilities. | [7] |
| Jan 28, 2026 | Full-year 2025 results | Record core earnings of $3.02 per share on $835.72 million of revenue; the release credits 'nearly 3,000' teammates and does not mention AI. | [21] |
| Oct 30, 2025 | Talkdesk CX Innovators honourable mention | Talkdesk reports 200+ simultaneous calls handled during the system conversion, a 23-second reduction in average handle time and a 97% satisfaction rate (vendor-reported). | [16] |
| Sep 25, 2025 | Talkdesk customer story: AI tools in member service | TowneBank started with Talkdesk Copilot and Interaction & Quality Analytics on Talkdesk's Financial Services Experience Cloud, choosing AI features that enhance rather than replace human interactions. | [4] |
| Jun 18, 2025 | CIO Denys Diaz on Talkdesk and AI | Talkdesk's cloud contact-centre platform supports member service; Diaz: 'there's nothing AI can't fix or help with'. | [11] |
Does TowneBank have an AI strategy?
Not a published one. The record is vendor AI in member service (Talkdesk Copilot and Interaction & Quality Analytics), Microsoft Copilot installed for bankers but under-used, SAS analytics, a stand-alone AI risk factor in its 10-K since the 2024 report, and a new chief information officer, Varun Chandhok, hired in February 2026 to advance the technology strategy. No AI budget or AI leader is disclosed.
When did TowneBank first mention AI in its 10-K?
In the 10-K for fiscal 2024, filed with the FDIC on February 28, 2025, which added a risk factor titled 'The development and use of Artificial Intelligence ("AI") presents risks and challenges'. The 2023 10-K, filed February 28, 2024, has no reference to artificial intelligence. The 2025 10-K kept the risk factor and also added AI to the summary risk list and the cyber risk factor.
Who is TowneBank's chief information officer?
Varun Chandhok, senior executive vice president and chief information officer, announced on February 17, 2026 and dated in the 10-K from January 2026. He was previously CIO of WesBanco Bank and chief information and operations officer of Premier Bank, after two decades of business-line CIO roles at M&T Bank. His predecessor in 2025 was Denys Diaz.
Does TowneBank use Microsoft Copilot?
Yes, it is installed on bankers' computers, but Triad president Scott Baker said 'we have this resource sitting right there, and we don't always go grab it'. A UNC Greensboro MBA capstone reported on June 22, 2026 delivered a prompt manual and a training plan for safe use inside the bank's private network. No usage figures have been published.
What AI does TowneBank use with customers?
Its member service centre runs on Talkdesk, starting with Talkdesk Copilot agent assistance and Interaction & Quality Analytics, which give agents real-time insights, automated summaries and AI-driven knowledge. Talkdesk reports a 23-second cut in average handle time and a 97% satisfaction rate. TowneBank has not announced a customer-facing chatbot or virtual assistant.
- TowneBank Annual Report on Form 10-K for the fiscal year ended December 31, 2023
- TowneBank Annual Report on Form 10-K for the fiscal year ended December 31, 2024
- TowneBank Annual Report on Form 10-K for the fiscal year ended December 31, 2025
- TowneBank Customer Story
- Talkdesk announces 2025 CX Innovators Awards winners
- Bryan School Students Bring Fresh Perspective to TowneBank's AI Strategy
- TowneBank Welcomes Varun Chandhok as Chief Information Officer
- Executive Leadership
- Banking on cloud: TowneBank primes for continued growth with SAS
- TowneBank 2025 Proxy Statement
- Information superhighway: Denys Diaz
- TowneBank Form 10-Q for the quarter ended March 31, 2026
- TowneBank Form 10-Q for the quarter ended June 30, 2026
- Varun Chandhok, Chief Information Officer (executive biography)
- TowneBank 2026 Proxy Statement
- Celebrating the CX Innovators winners shaping customer experience
- Talkdesk transforms the bank branch into an AI-powered advisory hub
- TowneBank Reports Second Quarter 2026 Earnings
- How to Recognize AI Scams in 2026
- TowneBank Reports First Quarter 2026 Earnings
- TowneBank Reports Full Year and Fourth Quarter Financial Results for 2025
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