Towne Bank Q2 Income Falls

(RTTNews) - Towne Bank (TOWN) released a profit for second quarter that Drops, from last year

The company's bottom line totaled $38.83 million, or $0.51 per share. This compares with $42.85 million, or $0.57 per share, last year.

Excluding items, Towne Bank reported adjusted earnings of $61.38 million or $0.81 per share for the period.

The company's revenue for the period rose 18.6% to $207.44 million from $174.97 million last year.

Towne Bank earnings at a glance (GAAP) :

-Earnings: $38.83 Mln. vs. $42.85 Mln. last year. -EPS: $0.51 vs. $0.57 last year. -Revenue: $207.44 Mln vs. $174.97 Mln last year.