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TowneBank: Q1 Earnings Snapshot

PORTSMOUTH, Va. (AP) — PORTSMOUTH, Va. (AP) — TowneBank (TOWN) on Wednesday reported net income of $41 million in its first quarter.

The bank, based in Portsmouth, Virginia, said it had earnings of 45 cents per share. Earnings, adjusted for costs related to mergers and acquisitions and non-recurring costs, came to 74 cents per share.

The community bank posted revenue of $323.9 million in the period. Its revenue net of interest expense was $247.6 million, which missed Street forecasts.

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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

ING: Q2 Earnings Snapshot

AMSTERDAM (AP) — AMSTERDAM (AP) — ING Groep NV (ING) on Thursday reported net income of $2.26 billion in its second quarter. The Amsterdam-based bank said it had earnings of 79 cents per share. The financial services provider posted revenue of $7.31 billion in the period. Its revenue net of interest expense was $7.31 billion, surpassing Street forecasts. _____
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