PORTSMOUTH, Va. (AP) — PORTSMOUTH, Va. (AP) — TowneBank (TOWN) on Wednesday reported net income of $34.7 million in its first quarter.
The Portsmouth, Virginia-based bank said it had earnings of 46 cents per share. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, came to 48 cents per share.
The community bank posted revenue of $250.8 million in the period. Its revenue net of interest expense was $167.1 million, missing Street forecasts.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TOWN at https://www.zacks.com/ap/TOWN
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
