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Carolina Financial: 4Q Earnings Snapshot

CHARLESTON, S.C. (AP) _ Carolina Financial Corp. (CARO) on Thursday reported fourth-quarter net income of $15.4 million.

The Charleston, South Carolina-based bank said it had earnings of 68 cents per share. Earnings, adjusted for non-recurring costs, were 75 cents per share.

The holding company for CresCom Bank posted revenue of $51.4 million in the period. Its revenue net of interest expense was $43.4 million, which missed Street forecasts.

For the year, the company reported profit of $49.7 million, or $2.26 per share. Revenue was reported as $173.7 million.

Carolina Financial shares have risen 12 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $33.11, a decline of 13 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