TowneBank: Rises on better-than-expected Q1 profit

TowneBank

27/04/2020 18:09

** Shares of regional bank  TOWN.O  up ~6% at $19.5 on Q1
profit beat
    ** TOWN's EPS edges past expectations for third consecutive
qtr
    ** Co helped by rise in net interest income, the difference
between what a banks charges on loans and pays on deposits
    ** Also reports rise in loans and deposits for the qtr 
    ** Despite session's gain, stock had fallen ~27%, this year

 (Reporting by Abhishek Manikandan in Bengaluru)
 ((Abhishek.Manikandan@thomsonreuters.com))