Carolina National Corporation Reports First Quarter Earnings
April 28 2006 - 11:39AM
PR Newswire (US)
COLUMBIA, S.C., April 28 /PRNewswire-FirstCall/ -- Carolina
National Corporation (NASDAQ:CNCP), holding company for Carolina
National Bank and Trust Company, today reported results for the
three months ending March 31, 2006. Total assets were $182 million
at March 31, 2006, an increase of $17 million, or 10%, from
December 31, 2005. Total assets increased $64 million, or 55%,
compared to the same period in 2005. Net loans were $154 million
and deposits $151 million at the end of the quarter. Consumer loans
were 25% of total loans and 75% were commercial loans. Demand
deposits were 18% of deposits, 18% were savings or money market
deposits, 37% were certificates of deposit, and 27% were brokered
certificates of deposit. The Company reported its sixth consecutive
profitable quarter since it began operations on July 15, 2002. Net
income for the first quarter of 2006 was $411 thousand, or $.15 per
share, compared to a net income of $42 thousand, or $.03 per share
for the same period last year. Roger Whaley, President and CEO,
said, "Our results in 2006 reflect the continued growth of loans,
deposits and customer base. We are excited about our prospects for
future growth and appreciate the support of our customers and
shareholders." Carolina National Bank operates three full-service
banking locations in Richland County, S.C. and has applied for
branch approval for a fourth location on Garners Ferry Road, also
in Richland County. These banking locations offer a full line of
banking products and services including personal and business
internet banking. The Bank also operates a loan production office
in Lexington County, SC. The Bank's website is
http://www.carolinanationalbank.com/. Carolina National Corporation
stock is traded on the NASDAQ Capital Market under the symbol CNCP.
DATASOURCE: Carolina National Corporation CONTACT: Roger B. Whaley,
President of Carolina National Corporation, +1-803-779-0411 Web
site: http://www.carolinanationalbank.com/
Copyright
Carolina National (NASDAQ:CNCP)
Historical Stock Chart
From May 2024 to Jun 2024
Carolina National (NASDAQ:CNCP)
Historical Stock Chart
From Jun 2023 to Jun 2024
Real-Time news about Carolina National Corp (MM) (NASDAQ): 0 recent articles
More Carolina National (MM) News Articles