Carolina Financial Corporation (CARO) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
288 MEETING STREET CHARLESTON, SC 29401 |
| State of Incorp. | |
| Fiscal Year End | December 31 |
| Industry (SIC) | 6022 - State Commercial Banks (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)Annual | Quarterly
| 12/31/2019 Q4 | 9/30/2019 Q3 | 6/30/2019 Q2 | 3/31/2019 Q1 | 12/31/2018 Q4 | 9/30/2018 Q3 | 6/30/2018 Q2 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 76,877 | 68,418 | 60,008 | 62,133 | 75,947 | 82,078 | |||
| Cash and cash equivalents | 76,877 | 68,418 | 60,008 | 62,133 | 75,947 | 82,078 | |||
| Total current assets: | 76,877 | 68,418 | 60,008 | 62,133 | 75,947 | 82,078 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 17,516 | ✕ | ✕ | ✕ | |||||
| Property, plant and equipment | 59,841 | 59,829 | 60,547 | 60,866 | 61,702 | 62,530 | |||
| Intangible assets, net (including goodwill) | 141,849 | 142,570 | 143,305 | 144,054 | 144,817 | 145,595 | |||
| Goodwill | 127,592 | 127,592 | 127,592 | 127,592 | 127,592 | 127,592 | |||
| Intangible assets, net (excluding goodwill) | 14,257 | 14,978 | 15,713 | 16,462 | 17,225 | 18,003 | |||
| Disposal group, including discontinued operation, noncurrent assets | 18,004 | ||||||||
| Total noncurrent assets: | 201,690 | 219,915 | 221,856 | 204,920 | 206,519 | 208,125 | |||
| Other undisclosed assets | 3,701,321 | 3,599,741 | 3,560,316 | 3,523,695 | 3,439,019 | 3,402,888 | |||
| TOTAL ASSETS: | 3,979,888 | 3,888,074 | 3,842,180 | 3,790,748 | 3,721,485 | 3,693,091 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Debt | 417,000 | 370,500 | 321,000 | 405,500 | 320,500 | 354,500 | |||
| Total current liabilities: | 417,000 | 370,500 | 321,000 | 405,500 | 320,500 | 354,500 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 18,296 | ||||||||
| Capital lease obligations | ✕ | ✕ | ✕ | 18,296 | |||||
| Total noncurrent liabilities: | 18,296 | ||||||||
| Other undisclosed liabilities | 2,941,293 | 2,911,995 | 2,913,734 | 2,809,963 | 2,836,958 | 2,786,807 | |||
| Total liabilities: | 3,358,293 | 3,282,495 | 3,253,030 | 3,215,463 | 3,157,458 | 3,141,307 | |||
| Equity | |||||||||
| Equity, attributable to parent | 621,595 | 605,579 | 589,150 | 575,285 | 564,027 | 551,784 | |||
| Common stock | 222 | 223 | 223 | 224 | 226 | 226 | |||
| Additional paid in capital | 403,700 | 404,578 | 404,869 | 408,224 | 412,990 | 412,300 | |||
| Accumulated other comprehensive income (loss) | 10,138 | 7,868 | 4,213 | (336) | (2,560) | (541) | |||
| Retained earnings | 207,535 | 192,910 | 179,845 | 167,173 | 153,371 | 139,799 | |||
| Total equity: | 621,595 | 605,579 | 589,150 | 575,285 | 564,027 | 551,784 | |||
| TOTAL LIABILITIES AND EQUITY: | 3,979,888 | 3,888,074 | 3,842,180 | 3,790,748 | 3,721,485 | 3,693,091 | |||
Income Statement (P&L) ($ in thousands)Annual | Quarterly
| 12/31/2019 Q4 | 9/30/2019 Q3 | 6/30/2019 Q2 | 3/31/2019 Q1 | 12/31/2018 Q4 | 9/30/2018 Q3 | 6/30/2018 Q2 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 38,604 | 36,571 | 34,977 | 35,215 | 33,623 | 38,210 | ||
| Net investment income | 38,604 | 36,571 | 34,977 | 35,215 | 33,623 | 32,753 | ||
| Cost of revenue | (620) | (2,022) | (1,236) | (1,239) | (1,099) | (889) | ||
| Provision for loan, lease, and other losses | (620) | (680) | ||||||
| Amortization of mortgage servicing rights (msrs) | (1,342) | (1,236) | (1,239) | (1,099) | (889) | |||
| Gross profit: | 37,984 | 34,549 | 33,741 | 33,976 | 32,524 | 37,321 | ||
| Operating expenses | (5,426) | |||||||
| Other operating income, net (Noninterest Income, Other Operating Income) | 1,183 | 1,310 | 952 | 895 | 975 | 2,644 | ||
| Operating income: | 39,167 | 30,433 | 34,693 | 34,871 | 33,499 | 39,965 | ||
| Nonoperating income (expense) | 400 | (902) | 398 | 377 | 378 | 385 | ||
| Bank owned life insurance income | 400 | 398 | 398 | 377 | 378 | 385 | ||
| Mortgage servicing rights (msr) impairment (recovery) | (1,300) | |||||||
| Interest and debt expense | (9,701) | (9,883) | (9,310) | (8,028) | (7,102) | (6,572) | ||
| Other undisclosed loss from continuing operations before equity method investments, income taxes | (8,494) | (292) | (7,286) | (7,795) | (7,344) | (14,776) | ||
| Income from continuing operations before income taxes: | 21,372 | 19,356 | 18,495 | 19,425 | 19,431 | 19,002 | ||
| Income tax expense | (4,744) | (4,282) | (3,950) | (3,981) | (4,227) | (4,036) | ||
| Income from continuing operations: | 16,628 | 15,074 | 14,545 | 15,444 | 15,204 | 14,966 | ||
| Income before gain (loss) on sale of properties: | 16,628 | 15,074 | 14,545 | 15,444 | 15,204 | 14,966 | ||
| Net income available to common stockholders, diluted: | 16,628 | 15,074 | 14,545 | 15,444 | 15,204 | 14,966 | ||
Comprehensive Income ($ in thousands)Annual | Quarterly
| 12/31/2019 Q4 | 9/30/2019 Q3 | 6/30/2019 Q2 | 3/31/2019 Q1 | 12/31/2018 Q4 | 9/30/2018 Q3 | 6/30/2018 Q2 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 16,628 | 15,074 | 14,545 | 15,444 | 15,204 | 14,966 | ||
| Other comprehensive income (loss) | 2,270 | 3,655 | 4,549 | 2,224 | (2,019) | (493) | ||
| Comprehensive income, net of tax, attributable to parent: | 18,898 | 18,729 | 19,094 | 17,668 | 13,185 | 14,473 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.