Carolina Trust BancShares, Inc. Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Reports Net Loan Charge-Offs for the Fourth Quarter of 2016
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.