Carolina Financial Corporation Reports Results for Fourth Quarter of 2017
CAROLINA FINANCIAL (CARO)
Last carolina financial earnings: 1/31 04:10 pm
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US:NASDAQ Investor Relations:
haveanicebank.com/investor-relations
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Source: GlobeNewswire
CHARLESTON, S.C., Jan. 24, 2018 (GLOBE NEWSWIRE) -- Carolina Financial Corporation (the “Company”) (NASDAQ:CARO) today announced financial results for the fourth quarter of 2017. Operational highlights at and for the three months ended December 31, 2017, include: On November 1, 2017, the Company closed its previously announced acquisition of First South Bancorp, Inc., the holding company for First South Bank, (“First South”) with the operational conversion expected to be completed in the first quarter of 2018. Excluding purchase accounting adjustments, total assets of First South were $1.1 billion, total loans receivable were $774.3 million and total deposits were $952.6 million as of the closing date. Financial highlights at and for the three months ended December 31, 2017, include: Effective November 1, 2017, the Company completed the previously announced merger of First South Bancorp, Inc. (“First South”). Net income for the fourth quarter 2017 increased 22.9% to $6.3 milli
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