TowneBank reports Q1 EPS 67c, consensus 61c

Reports Q1 revenue $192.04M, consensus $189.33M. Reports Q1 tangible book value per share $22.36. Reports Q1 CET1 capital ratio 12.75%. “Our Company had a very strong start to the year earning $0.67 per share and delivering nearly 7% annualized loan growth. Our continued focus on measured growth aligned with a deliberate strategy to maintain healthy liquidity and capital levels should position our Company well during periods of economic uncertainty. While growth could be challenged in the short run, we believe our conservative Main Street approach to relationship banking coupled with our diversified fee income businesses can serve as a pillar of strength for our members, shareholders and the communities we serve,” said G. Robert Aston, Jr., executive chairman.