Carolina Trust BancShares, Inc. reported unaudited earnings results for the first quarter ended March 31, 2018. For the quarter, the company interest income of $4,827,000 against $4,077,000 a year ago. Net interest income was $3,767,000 against $3,254,000 a year ago. Increase in net interest income is primarily due to loan growth and net interest margin expansion. Income before taxes was $749,000 against $319,000 a year ago. Net income $581,000 against $211,000 a year ago. Net income available to common shareholders was $581,000 or $0.12 per diluted share against $211,000 or $0.04 per diluted share a year ago. Tangible book value per common share was $6.29 against $6.28 a year ago. Book value per common share was $6.30 against $6.31 a year ago. Return on average assets was 0.55% against 0.23% a year ago. Return on average common equity was 8.00% was 2.92% a year ago.

For the quarter, the company announced net loan charge-offs of $71,000 against $73,000 a year ago.