TowneBank: Q1 Earnings Snapshot

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 ( using data from Zacks Investment Research. Access a Zacks stock report on TOWN at

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