BRENTWOOD, Tenn. (AP) _ Reliant Bancorp Inc. (RBNC) on Thursday reported second-quarter net income of $7.9 million.
The bank, based in Brentwood, Tennessee, said it had earnings of 48 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, were 60 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.
The bank holding company posted revenue of $40.3 million in the period. Its revenue net of interest expense was $34.4 million, also topping Street forecasts. Three analysts surveyed by Zacks expected $28.8 million.
Reliant Bancorp shares have declined 32% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $15.17, a decrease of 35% in the last 12 months.