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Carolina Financial: 1Q Earnings Snapshot

CHARLESTON, S.C. (AP) _ Carolina Financial Corp. (CARO) on Wednesday reported first-quarter net income of $14.5 million.

The bank, based in Charleston, South Carolina, said it had earnings of 65 cents per share. Earnings, adjusted for non-recurring costs, came to 66 cents per share.

The holding company for CresCom Bank posted revenue of $52.7 million in the period. Its revenue net of interest expense was $43.3 million, missing Street forecasts.

Carolina Financial shares have increased 25 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $36.91, a fall of 9 percent in the last 12 months.


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