Carolina Trust BancShares, Inc. announced unaudited earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported interest income of $5,198,000 compared to $4,266,000 a year ago. Net interest income was $4,043,000 compared to $3,420,000 a year ago. Income before taxes was $701,000 compared to $285,000 a year ago. Net income available to common shareholders was $510,000 or $0.08 per basic and diluted share compared to $196,000 or $0.04 per basic and diluted share a year ago. Adjusted net income available to common shareholders was $792,000 or $0.12 per basic and diluted share compared to $196,000 or $0.04 per basic and diluted share a year ago. Return on assets 0.44% compared to 0.20% a year ago. Return on equity was 4.69% compared to 2.64% a year ago. Book value per common share was $6.73 compared to $6.35 a year ago. Tangible book value per common share was $6.73 compared to $6.33 a year ago. Tangible book value per common share (non-GAAP) was $6.73 compared to $6.33 a year ago.

For the six months, the company reported interest income of $10,025,000 compared to $8,343,000 a year ago. Net interest income was $7,810,000 compared to $6,674,000 a year ago. Income before taxes was $1,450,000 compared to $605,000 a year ago. Net income available to common shareholders was $1,091,000 or $0.19 per basic and diluted share compared to $407,000 or $0.09 per basic and diluted share a year ago. Adjusted net income available to common shareholders was $1,373,000 or $0.24 per basic and diluted share compared to $407,000 or $0.09 per basic and diluted share a year ago.

For the quarter, the company reported net loan charge-offs of $24,000 against recovery of $323,000 a year ago.