Carolina Trust BancShares, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017
October 27, 2017 at 04:10 pm EDT
Carolina Trust BancShares, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2017. For the third quarter, the company reported interest income of $4,434,000 against $3,966,000 a year ago. Net Interest Income was $3,540,000 against $3,274,000 a year ago. Income before taxes was $521,000 against $249,000 a year ago. Net Income was $351,000 against $85,000 a year ago. Net income available to common shareholders was $351,000 against $27,000 a year ago. Diluted earnings per share were $0.07 against $0.01 a year ago. The year-over-year earnings increase was due to a $266,000 increase in net interest income and a decrease on noninterest expenses.
For the nine months, the company reported interest income of $12,777,000 against $12,076,000 a year ago. Net Interest Income was $10,214,000 against $10,042,000 a year ago. Income before taxes was $1,126,000 against $1,622,000 a year ago. Net Income was $758,000 against $959,000 a year ago. Net income available to common shareholders was $758,000 against $784,000 a year ago. Diluted earnings per share were $0.16 against $0.17 a year ago. Book value per common share was $6.39 against $6.26 a year ago. Return on average assets was 0.35% against 0.09% a year ago. Return on average common equity was 4.67% against 0.37% a year ago.