PORTSMOUTH, Va. (AP) _ TowneBank (TOWN) on Thursday reported net income of $40.2 million in its fourth quarter.
The Portsmouth, Virginia-based bank said it had earnings of 55 cents per share.
The community bank posted revenue of $169.1 million in the period. Its revenue net of interest expense was $160.4 million, which beat Street forecasts.
For the year, the company reported profit of $215.4 million, or $2.97 per share. Revenue was reported as $680.3 million.
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 by Automated Insights, Inc. All rights reserved., source Associated Press News