Atlantic Capital Bancshares, Inc. Announces Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018; Reports Net Charge Offs for the Third Quarter of 2018; Provides Earnings Guidance for the Fourth Quarter of 2018
For the nine months, Net interest income was $66,392,000 against $57,790,000 a year ago. Operating income before income taxes was $23,299,000 against $17,540,000 a year ago. Operating net income was $18,441,000 against $11,611,000 a year ago. Net income was $19,702,000 against $11,611,000 a year ago. Diluted earnings per share were $0.75 against $0.45 a year ago. Book value per share was $12.27 against $12.63 a year ago. Tangible book value per common share was $11.37 compared with $11.67 a year ago. Return on average equity GAAP was 8.41% compared to 4.91% a year ago. Return on average equity operating was 7.87% compared to 4.91% a year ago. Return on average assets GAAP was 0.96% compared to 0.57% a year ago. Return on average assets - operating was 0.90% compared to 0.57% a year ago.
For the third quarter, net charge offs was $15,000.
For the fourth quarter, The company anticipates the ROA to improve in the fourth quarter from the margin expansion, along with the full benefit from the recent loan growth.