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Xenith Bankshares posts 1Q profit

RICHMOND, Va. (AP) _ Xenith Bankshares Inc. (XBKS) on Wednesday reported first-quarter net income of $5.7 million.

The bank, based in Richmond, Virginia, said it had earnings of 24 cents per share. Earnings, adjusted for costs related to mergers and acquisitions and to account for discontinued operations, came to 26 cents per share.

The bank holding company posted revenue of $32.8 million in the period. Its adjusted revenue was $28 million.

Xenith Bankshares shares have dropped almost 5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $26.88, a rise of 51 percent in the last 12 months.

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

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Keywords: Xenith Bankshares, Earnings Report