PORTSMOUTH, Va. (AP) — PORTSMOUTH, Va. (AP) — TowneBank (TOWN) on Wednesday reported net income of $193.2 million in its second quarter.
The Portsmouth, Virginia-based bank said it had earnings of $2.09 per share. Earnings, adjusted for one-time gains and costs, were 78 cents per share.
The community bank posted revenue of $321.2 million in the period. Its revenue net of interest expense was $247 million, missing Street forecasts.
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