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PORTSMOUTH, Va. (AP) _ TowneBank (TOWN) on Thursday reported net income of $55.8 million in its second quarter.
The Portsmouth, Virginia-based bank said it had earnings of 77 cents per share.
The community bank posted revenue of $178 million in the period. Its revenue net of interest expense was $167.3 million, beating Street forecasts.
TowneBank shares have risen 28% since the beginning of the year. The stock has increased 69% 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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