PORTSMOUTH, Va. (AP) — PORTSMOUTH, Va. (AP) — TowneBank (TOWN) on Wednesday reported net income of $38.8 million in its second quarter.
The Portsmouth, Virginia-based bank said it had earnings of 51 cents per share. Earnings, adjusted for amortization costs and non-recurring costs, were 81 cents per share.
The community bank posted revenue of $277.9 million in the period. Its revenue net of interest expense was $208.5 million, which beat Street forecasts.
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