Beacon: Q2 Earnings Snapshot

BOSTON (AP) — BOSTON (AP) — Beacon Financial Corporation (BBT) on Wednesday reported second-quarter net income of $64.4 million.

The bank, based in Boston, said it had earnings of 77 cents per share.

The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 77 cents per share.

The bank holding company posted revenue of $319.6 million in the period. Its revenue net of interest expense was $219.2 million, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $222.4 million.

Beacon shares have risen 13% since the beginning of the year, while the S&P's 500 index has increased nearly 7%. In the final minutes of trading on Wednesday, shares hit $29.84, a climb of 17% 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 BBT at https://www.zacks.com/ap/BBT