PORTSMOUTH, Va. (AP) — PORTSMOUTH, Va. (AP) — TowneBank (TOWN) on Thursday reported net income of $44.9 million in its third quarter.

The bank, based in Portsmouth, Virginia, said it had earnings of 60 cents per share.

The community bank posted revenue of $242.7 million in the period. Its revenue net of interest expense was $172.9 million, topping Street forecasts.

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