AMERICAN FORK, Utah (AP) _ Altabancorp (ALTA) on Wednesday reported first-quarter profit of $9.4 million.

The American Fork, Utah-based bank said it had earnings of 50 cents per share.

The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 50 cents per share.

The bank holding company posted revenue of $30.5 million in the period. Its revenue net of interest expense was $29 million, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $30.2 million.

Altabancorp shares have climbed 55% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $43.25, more than doubling in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALTA at https://www.zacks.com/ap/ALTA

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