CAROLINA FINANCIAL CORP (CARO) [Rocket]

In millions, except per share items	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14	Dec-31-13
	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Interest income on loans	147.9	133.3	79.3	51.1	41.0	31.3	27.7
Total interest income	177.1	161.1	95.1	60.9	49.6	37.7	32.9
Interest expense:
Interest on deposits	27.1	18.7	9.4	6.0	4.4	3.5	3.3
Interest on borrowings							2.4
	37.9	27.2	13.3	8.8	6.6	5.6	5.7
Net interest income	139.3	133.8	81.8	52.2	43.0	32.1	27.2
Provision for loan losses							-0.9
Net interest income after provision for loan losses	139.3	133.8	81.8	52.2	43.0	32.1	28.1
Deposit and loan fees					3.5	2.1	1.6
Gain on sale of investments, net					1.5	1.1	-1.1
Other non-interest income	47.1	39.9	33.9	29.3	22.7	18.0	43.7
Total non-interest income	47.1	39.9	33.9	29.3	27.7	21.1	44.1
Non-interest expenses	103.1	109.2	73.4	56.0	49.2	41.4	46.0
Pre-tax income before non-recurring items	81.1	62.9	42.0	25.7	21.9	12.2	27.1
Non-recurring items	0.4	0.4	0.5	0.3	0.4	0.4	0.9
Pre-tax income	80.7	62.4	41.5	25.4	21.5	11.8	26.2
Income taxes	17.9	12.8	13.0	7.8	7.1	3.4	9.4
Tax rate	22.2%	20.5%	31.2%	30.9%	32.9%	29.3%	35.8%
Net income	62.7	49.7	28.6	17.6	14.4	8.3	16.8
Net margin	33.7%	28.6%	24.7%	21.6%	20.4%	15.6%	23.6%

Basic EPS	$2.83	$2.28	$1.75	$1.45	$1.51	$0.89	$2.19
Diluted EPS	$2.80	$2.26	$1.73	$1.42	$1.48	$0.87	$2.12

Shares outstanding (basic)	22.2	21.8	16.3	12.1	9.5	9.3	7.7
Shares outstanding (diluted)	22.4	22.0	16.6	12.4	9.7	9.5	7.9

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.