This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Carolina Bank Holdings, Inc. Reports A 55.6% Increase In First Quarter EPS To $0.42

GREENSBORO, N.C., April 29, 2013 (GLOBE NEWSWIRE) -- Carolina Bank Holdings, Inc. (Nasdaq:CLBH) today reported first quarter 2013 results with highlights as follows:

First Quarter 2013 Financial Highlights

  • Diluted net income per common share increased 55.6% to $0.42 in the first quarter of 2013 from $0.27 in the first quarter of 2012.
  • Net income for the first quarter of 2013 was $1,718,000, an increase of 39.9% from net income of $1,228,000 reported in the first quarter of 2012.
  • Net income available to common shareholders was $1,413,000 in the first quarter of 2013 compared to $926,000 in the first quarter of 2012.
  • The net interest margin, computed on a fully taxable basis, decreased to 3.94% in the first quarter of 2013 compared to 3.98% in the first quarter of 2012.
  • Mortgage banking revenues increased 22.9% to $3,895,000 in the first quarter of 2013 from $3,169,000 in the first quarter of 2012.
  • Carolina Bank, the subsidiary of Carolina Bank Holdings, Inc., continued to maintain 'Well Capitalized' status, the highest regulatory capital measure. Capital ratios at March 31, 2013 for Carolina Bank improved to 9.34% for Tier 1 leverage, 12.23% for Tier 1 risk-based, and 15.28% for total risk-based.
  • Average non-interest-bearing demand deposits increased 34.0% in the first quarter of 2013 from the same quarter in 2012.
  • Net loan charge-offs declined to $105,000, or 0.09% of average loans (annualized), in the first quarter of 2013 from $762,000, or 0.64% of average loans (annualized), in the first quarter of 2012.
  • Non-performing assets to total assets decreased to 2.72% at March 31, 2013 from 4.62% at March 31, 2012

"We continued our goal of building shareholder value in 2013 by increasing net income and by strengthening our relationships with customers despite a challenging lending environment," said President and Chief Executive Officer Robert T. Braswell. "Average loans declined during the first quarter of 2013 due to irrational terms being offered by some of our competitors and lackluster demand by borrowers, but we continued our focus on increasing our commercial relationships as evidenced by a 34% increase in average non-interest-bearing demand deposits in the first quarter of 2013 from the first quarter of last year."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,126.12 -36.87 -0.20%
S&P 500 2,120.79 -2.69 -0.13%
NASDAQ 5,097.9760 -8.6170 -0.17%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs