Business

July 24, 2014

Net earnings drop at Carolina Financial

Carolina Financial Corp., the holding company of CresCom Bank, announced Thursday that its second-quarter net earnings was $2.2 million or $0.57 per diluted share this year, $3.3 million less than the second=quarter net earnings reported in 2013.

Carolina Financial Corp., the holding company of CresCom Bank, announced Thursday that its second-quarter net earnings was $2.2 million or $0.57 per diluted share this year, $3.3 million less than the second=quarter net earnings reported in 2013.

Net income for the first half of 2014 was $4.2 million versus $10 million for the first half of 2013.

The numbers include the net income of Crescent Mortgage Co., which was $611,000 for the second quarter this year as compared to $3.7 million for the same time in 2013.

The bank announced in a press release that it plans to open a branch in Socastee in August and a loan production office in Greenville during the third quarter this year.

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