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Carolina Financial posts 1Q profit

CHARLESTON, S.C. (AP) _ Carolina Financial Corp. (CARO) on Monday reported first-quarter profit of $4.9 million.

The Charleston, South Carolina-based bank said it had earnings of 35 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, were 41 cents per share.

The holding company for CresCom Bank posted revenue of $24.9 million in the period. Its adjusted revenue was $22.5 million.

Carolina Financial shares have declined slightly more than 3 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $29.77, an increase of 66 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 CARO at https://www.zacks.com/ap/CARO

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Keywords: Carolina Financial, Earnings Report