Atlantic Capital Bancshares, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2017; Reports Net Charge Offs for the Second Quarter of 2017; Provides Tax Rate Guidance for the Full Year 2017
For the six months, net interest income was $40,220,000 compared to $38,204,000 a year ago. Operating income before income taxes was $11,383,000 compared to $11,529,000 a year ago. Operating net income was $7,559,000 compared to $7,083,000 a year ago. Net income was $7,559,000 or $0.29 per diluted share compared to $8,078,000 or $0.31 per diluted share a year ago. Diluted earnings per share operating was $0.29 compared to $0.28 a year ago. Book value per share as at June 30, 2017 was $12.45 compared to $12.29 a year ago. Tangible book value per share as at June 30, 2017 was $11.47 compared to $11.15 a year ago. Return on average equity GAAP was 4.88% compared to 5.47% a year ago. Return on average equity operating was 4.88% compared to 4.79% a year ago. Return on average assets GAAP was 0.56% compared to 0.61% a year ago. Return on average assets - operating was 0.56% compared to 0.53% a year ago. Income before provision for income taxes was $10,905,000 compared to $13,022,000 a year ago.
Net charge offs for the second quarter 2017 was $49,000 compared to $8,000 a year ago.
The company expects tax rate to be around 36% for the full year 2017.