PORTSMOUTH, Va. (AP) _ TowneBank (TOWN) on Thursday reported second-quarter net income of $34.6 million.

The bank, based in Portsmouth, Virginia, said it had earnings of 48 cents per share.

The community bank posted revenue of $183.9 million in the period. Its revenue net of interest expense was $162.7 million, which topped Street forecasts.

TowneBank shares have fallen 36% since the beginning of the year. The stock has fallen 34% 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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