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Carolina Trust BancShares, Inc. (CART) Create: Alert

All | News | Filings
Date FiledTypeDescription
01/06/2020 8-K Quarterly results
12/18/2019 8-K Submission of Matters to a Vote of Security Holders, Other Events, Financial Statements and Exhibits
Docs: "–"
11/05/2019 8-K Results of Operations and Financial Condition, Financial Statements and Exhibits
Docs: "| Page The table below summarizes the key components of net income for 3Q19 and 3Q18. $ in thousands For the three months ended September 30, 2019 September 30, 2018 Increase % Change Interest income $ 7,372 $ 5,419 $ 1,953 36 % Interest expense 1,614 1,176 438 37 % Net interest income 5,758 4,243 1,515 36 % Provision for loan loss 75 NM Noninterest income 534 374 160 43 % Noninterest expense, excluding merger expenses 3,821 3,170 651 21 % Merger expenses 585 157 428 273 % Pre-tax income 1,923 1,215 708 58 % Income tax expense 496 300 196 65 % Net income $ 1,427 $ 915 $ 512 56 % Non-GAAP measurements: Net income $ 1,427 $ 915 Adjustments: + Merger expenses 585 157 - Accretion of purchased loan discounts - Accretion of purchased time deposit discounts 8 - + Amortization of core deposit int..."
09/11/2019 8-K Quarterly results
07/30/2019 8-K Quarterly results
07/18/2019 8-K Acquisition/merger/asset purchase announced
Docs: "Agreement and Plan of Merger and Reorganization, by and between Carolina Financial Corporation and Carolina Trust BancShares, Inc",
"Charleston, S.C. & Lincolnton, N.C., July 15, 2019"
05/24/2019 8-K Quarterly results
05/14/2019 8-K Regulation FD Disclosure, Financial Statements and Exhibits
Docs: "Presentation materials"
05/03/2019 8-K Results of Operations and Financial Condition, Financial Statements and Exhibits
Docs: "Carolina Trust BancShares, Inc. Reports 1st Quarter 2019 Results"
03/22/2019 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
03/19/2019 8-K/A Financial Statements and Exhibits
Docs: "Consent of Elliott Davis, LLC (filed herewith)",
"Unaudited consolidated balance sheets of Clover Community Bankshares, Inc. and subsidiary at September 30, 2018 and related unaudited consolidated statements of operations, comprehensive income, changes in shareholders’ equity, and cash flows for the nine months ended September 30, 2018 and 2017, and the notes related thereto (filed herewith)",
"Unaudited pro forma condensed combined financial information as of and for the nine months ended September 30, 2018 and for the year ended December 31, 2017, and the notes related thereto (filed herewith)"
01/30/2019 8-K Quarterly results
01/30/2019 8-K Quarterly results
01/23/2019 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements...
Docs: "Second Amendment to the 2014 Supplemental Executive Retirement Plan Agreement dated January 22, 2019, by and between Carolina Trust Bank and Jerry L. Ocheltree"
01/07/2019 8-K Quarterly results
12/13/2018 8-K Submission of Matters to a Vote of Security Holders, Other Events, Financial Statements and Exhibits
Docs: "Carolina Trust BancShares and Clover Community Announce Shareholder Approvals for Merger LINCOLNTON, N.C. AND CLOVER, S.C., December 13, 2018 – Carolina Trust BancShares, Inc. , the parent company of Carolina Trust Bank, and Clover Community Bankshares, Inc. , parent company of Clover Community Bank, jointly announced today the receipt of required shareholder approvals to consummate their previously announced merger. At separate shareholders’ meetings held on December 12, 2018, each parent company’s respective shareholders approved the merger agreement and the transactions contemplated thereby, including the merger of Clover with and into Carolina Trust. The merger, which has received all required regulatory approvals, is expected to close on January 1, 2019, subject to satisfaction of oth..."
11/26/2018 8-K Other Events
11/13/2018 8-K Investor presentation
Docs: "Investor Presentation Materials"
10/31/2018 8-K Quarterly results
Docs: "For the 3 months ended Increase % Change Interest income $ 5,419 $ 4,434 $ 985 22 % Interest expense 1,176 894 282 32 % Net interest income 4,243 3,540 703 20 % Provision for loan loss 75 340 Noninterest income 374 282 92 33 % Noninterest expense 3,327 2,961 366 12 % Pre-tax income 1,215 521 694 133 % Income tax expense 300 170 130 76 % Net income $ 915 $ 351 $ 564 161 % Non-GAAP measurements: Net income $ 915 $ 351 + Income tax 300 170 + Provision for loan loss 75 340 = Pre-tax pre-provision income $ 1,290 $ 861 $ 429 50 % Net income $ 915 $ 351 + Merger expenses, net of tax 142 -0- = Net income, adjusted to exclude merger expenses $ 1,057 $ 351 $ 706 201 % Return on assets 0.78 % 0.26 % 0.52 % Pre-tax pre-provision return on assets 1.10 % 0.87 % 0.23 % Return on equity 7.42 % 4.67 % 2.7..."
09/04/2018 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements...
Docs: "2018 Supplemental Executive Retirement Plan Agreement dated August 31, 2018, with Edwin E. Laws",
"2018 Supplemental Executive Retirement Plan Agreement dated August 31, 2018, with Jerry L. Ocheltree",
"2018 Supplemental Executive Retirement Plan Agreement dated August 31, 2018, with Richard M. Rager",
"First Amendment to the 2014 Supplemental Executive Retirement Plan Agreement for Jerry L. Ocheltree"
08/01/2018 8-K Results of Operations and Financial Condition, Financial Statements and Exhibits
Docs: "| P a g e Comparing 2Q18 with 2Q17, the $416,000 increase in pre-tax income was due mostly to increases in net interest income of $623,000 and noninterest income of $110,000 that were partially offset by an increase in noninterest expense of $293,000 . Income taxes increased by $102,000 , a smaller percentage increase than pre-tax income due to the decrease in the Company’s marginal federal tax rate from 34% to 21%, effective January 1, 2018. Net interest income increased from $3,420,000 in 2Q17 to $4,043,000 in 2Q18, primarily due to loan growth. Average loans increased by $53.7 million from 2Q17 to 2Q18. Over 80% of the loan growth was contributed by the Mooresville, Hickory and Denver, NC offices. The net interest margin decreased by 4 basis points from 3.80% in 2Q17 to 3.76% in 2Q18. T..."
06/20/2018 8-K Acquisition/merger/asset purchase announced
Docs: "Agreement and Plan of Merger and Reorganization by and between Carolina Trust BancShares, Inc. and Clover Community Bankshares, Inc."
06/15/2018 8-K Other Events, Financial Statements and Exhibits
Docs: "Investors and security holders are urged to read the registration statement and joint proxy statement/prospectus and other relevant documents when they become available because they will contain important information about the merger",
"Investor Presentation"
06/06/2018 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements...
Docs: "Amended and Restated Employment Agreement dated May 31, 2018, with Edwin E. Laws",
"Amended and Restated Employment Agreement dated May 31, 2018, with Richard M. Rager"
05/14/2018 8-K Quarterly results
05/04/2018 8-K Submission of Matters to a Vote of Security Holders
05/02/2018 8-K Regulation FD Disclosure, Financial Statements and Exhibits
Docs: "2018 Annual Shareholder Meeting Presentation Materials"
04/27/2018 8-K Results of Operations and Financial Condition, Financial Statements and Exhibits
Docs: "| Page Exhibit 99.1 The $370,000 increase in net income was due to increases in net interest income of $513,000 and noninterest income of $113,000 that were partially offset by increases in noninterest expenses of $95,000 and loan loss provision $101,000 . Income taxes increased by $60,000 , proportionately less than the increase in pre-tax income $430,000 , due to the decrease in the Company’s marginal federal tax rate from 34% to 21%, effective January 1, 2018. Net interest income increased from $3,254,000 in 1Q17 to $3,767,000 in 1Q18, primarily due to loan growth and net interest margin expansion. Average loans increased by $49.9 million from 1Q17 to 1Q18. Over 80% of the growth was contributed by the Mooresville, Hickory and Denver, NC offices. The net interest margin increased by 7 b..."
04/24/2018 8-K Other Events, Financial Statements and Exhibits
Docs: "Carolina Trust BancShares, Inc. Announces Closing of Common Stock Offering"
04/19/2018 8-K Entry into a Material Definitive Agreement, Other Events, Financial Statements and Exhibits
Docs: "Underwriting Agreement",
"Carolina Trust BancShares, Inc. Announces Pricing of Common Stock Offering"
04/16/2018 8-K Results of Operations and Financial Condition, Regulation FD Disclosure, Financial Statements and Exhibits
Docs: "Carolina Trust BancShares, Inc. Announces Commencement of Common Stock Offering"
04/03/2018 8-K Other Events
03/28/2018 8-K Results of Operations and Financial Condition, Financial Statements and Exhibits
Docs: "- CART) announces that its financial results for the quarter ended December 31, 2017 have been revised to report a net loss of $354,000 or $0.07 per diluted share. Previously, on January 26, 2018, the Company reported a net loss of $196,000 or $0.04 per diluted share. The $158,000 change in earnings is due to additional income tax expense recorded for a correction to the revaluation of the deferred tax assets ."
02/02/2018 8-K Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year, Financial Statements and Exhibits
Docs: "Bylaws of Carolina Trust BancShares, Inc., as amended"
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