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Carolina Financial: 3Q Earnings Snapshot

CHARLESTON, S.C. (AP) _ Carolina Financial Corp. (CARO) on Wednesday reported third-quarter profit of $15.2 million.

The bank, based in Charleston, South Carolina, said it had earnings of 66 cents per share. Earnings, adjusted for non-recurring costs, were 67 cents per share.

The holding company for CresCom Bank posted revenue of $51.3 million in the period. Its revenue net of interest expense was $44.2 million, which did not meet Street forecasts.

Carolina Financial shares have decreased 16 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $31.28, a decrease of 16 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