TowneBank: Q1 Earnings Snapshot

PORTSMOUTH, Va. (AP) _ TowneBank (TOWN) on Thursday reported first-quarter earnings of $69 million.

The Portsmouth, Virginia-based bank said it had earnings of 95 cents per share.

The community bank posted revenue of $194.8 million in the period. Its revenue net of interest expense was $182.5 million, beating Street forecasts.

TowneBank shares have risen 29% since the beginning of the year. The stock has increased 49% in the last 12 months.

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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

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