Portsmouth, Va.-Based TowneBank's Merger with Harbor Bank Gets Okay - 2004-02-11
Harbor Bank, the only bank based in Newport News, and Portsmouth-based TowneBank will unite after the close of business March 19, based on an agreement approved on Tuesday by shareholders of both.

The new center will offer commercial-banking, investing, mortgage and insurance services, said Jerry Passaro, Harbor Bank president and chief executive officer, who will become president of TowneBank on the Peninsula.
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Home Sales Still Healthy Without Setting Record - 2004-02-11
There were more than 6 million homes sold in 2003, 9 percent higher than 2002, according to the National Association of Realtors.

Low interest rates, which make it easier for buyers to borrow money, have been the biggest driver the past few years, and that trend is expected to continue in 2004. "They're the most important component of affordability," said Doug Duncan, senior vice president and chief economist with the Mortgage Bankers Association of America.
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