This Day On The Street
Continue to site right-arrow
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
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Carolina Bank Holdings, Inc. Reports EPS Of $0.75 For The Six Months Ended June 30, 2013

Stocks in this article: CLBH

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

Second Quarter 2013 Financial Highlights

  • Carolina Bank, the subsidiary of Carolina Bank Holdings, Inc., continued to maintain 'Well Capitalized' status, the highest regulatory capital measure. Capital ratios at June 30, 2013 for Carolina Bank improved to 9.39% for Tier 1 leverage, 12.67% for Tier 1 risk-based, and 15.79% for total risk-based.
  • The warrant to purchase 357,675 shares of common shares was repurchased from the U. S. Treasury in April 2013.
  • $5 million of the $16 million in outstanding preferred stock is scheduled to be retired in August 2013.
  • Average non-interest-bearing demand deposits increased 31.3% in the first six months of 2013 from the first six months of 2012.
  • Net loan charge-offs declined to $208,000, or 0.20% of average loans (annualized), in the second quarter of 2013 from $1,379,000, or 1.18% of average loans (annualized), in the second quarter of 2012.
  • Non-performing assets to total assets decreased to 3.07% at June 30, 2013 from 4.16% at June 30, 2012
  • Diluted net income per common share decreased to $0.75 for the six months ended June 2013 from $0.85 for the same period in 2012. Diluted net income per common share was $0.34 and $0.58 for the second quarters of 2013 and 2012, respectively.
  • Net income was $3,188,000 for the six months ended June 30, 2013 compared to $3,496,000 for the six months ended June 30, 2012. Net income was $1,470,000 and $2,268,000 in the second quarters of 2013 and 2012, respectively.
  • Net income available to common shareholders was $1,164,000 in the second quarter of 2013 compared to $1,961,000 in the second quarter of 2012.
  • The net interest margin, computed on a fully taxable basis, was 3.65% in the second quarter of 2013 compared to 3.86% in the second quarter of 2012.

"We continued our goal of building shareholder value in 2013 by increasing our capital and by strengthening our relationships with customers. We plan to retire $5 million of our $16 million in preferred stock in August 2013 which should be accretive to earnings per share," said President and Chief Executive Officer Robert T. Braswell. "Average loans declined during the first six months of 2013 due to a challenging commercial lending environment, but we continued our focus on increasing our commercial relationships as evidenced by a 31.3% increase in average non-interest-bearing demand deposits in the first six months of 2013 from the same period in 2012. Our commercial loan pipeline appears to be strengthening."

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,815.07 -2.83 -0.02%
S&P 500 2,068.67 -0.74 -0.04%
NASDAQ 4,758.9460 +4.0540 0.09%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs