Carolina Trust Bank announced unaudited earnings results for the fourth quarter and full year ended December 31, 2015. For the full year, the company announced interest income of $14,905,000 compared to $13,042,000 for the same period a year ago. Net interest income was $12,594,000 compared to $11,091,000 for the same period a year ago. Net interest income after provision was $12,864,000 compared to $11,171,000 for the same period a year ago. Income before taxes was $2,364,000 compared to $2,318,000 for the same period a year ago. Net income was $1,276,000 compared to $6,857,000 for the same period a year ago. Net income available to common shareholders was $1,040,000 or $0.22 per basic and diluted share compared to $6,630,000 or $1.42 per diluted share for the same period a year ago. Return on average total assets was 0.40% and return on average shareholder's equity was 4.18% for the year ended December 31, 2015.

For the quarter, the company announced interest income of $3,955,000 compared to $3,293,000 for the same period a year ago. Net interest income was $3,354,000 compared to $2,795,000 for the same period a year ago. Net interest income after provision was $3,454,000 compared to $2,795,000 for the same period a year ago. Income before taxes was $548,000 compared to $360,000 for the same period a year ago. Net income was $307,000 compared to $4,899,000 for the same period a year ago. Net income available to common shareholders was $248,000 compared to $4,840,000 for the same period a year ago. Net income per common share, basic and diluted was $0.05 compared to $1.04 for the same period a year ago. Book value per common share was $6.02 compared to $5.82 for the same period a year ago. Return on average assets was 0.37% compared to 7.35% for the same period a year ago. Return on average equity was 3.99% compared to 78.68% for the same period a year ago. Financial results for 2015 which were fueled by strong loan and deposit growth resulting in a 13.6% increase in net interest income, increased noninterest income and continued improvement in asset quality which resulted in a further reduction in the company's allowance for loan and lease loss for the year.