Carolina Trust BancShares, Inc. reported unaudited earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported interest income of $4,146,000 compared to $3,956,000 a year ago. Net interest income was $3,308,000 compared to $3,355,000 a year ago. Income before income taxes was $596,000 compared to $407,000 a year ago. Net income available to common shareholders was $335,000 or $0.07 per basic and diluted share compared to $33,000 or $0.01 per basic and diluted share a year ago. Return on average assets was 0.40% compared to 0.11% a year ago. Return on average common equity was 4.55% compared to 0.50% a year ago.

For the year, the company reported interest income of $16,222,000 compared to $14,905,000 a year ago. Net interest income was $13,350,000 compared to $12,594,000 a year ago. Income before income taxes was $2,218,000 compared to $2,222,000 a year ago. Net income available to common shareholders was $1,119,000 or $0.24 per basic and diluted share compared to $824,000 or $0.18 per basic and diluted share a year ago. Book value per common share as at December 31, 2016 was $6.24 compared to $6.00 a year ago.

For the fourth quarter of 2016, the company reported net loan charge-offs of $145,000 compared to $1,000 a year ago.