Carolina Financial Corporation announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2015. For the quarter, the company reported total interest income of $13,002,000 compared to $11,005,000 a year ago. Net interest income was $11,100,000 compared to $9,594,000 a year ago. Net interest income after provision for loan losses was $11,100,000 compared to $9,594,000 a year ago. Income before taxes was $5,367,000 compared to $2,305,000 a year ago. Net income was $3,609,000 or $0.36 per diluted share compared to $1,718,000 or $0.18 per basic and diluted share a year ago. Return on average assets was 1.06% compared to 0.62% a year ago. Return on average equity was 12.98% compared to 7.41% a year ago.

For the year, the company reported interest income of $49,604,000 compared to $37,656,000 a year ago. Net interest income was $43,000,000 compared to $32,054,000 a year ago. Net interest income after provision for loan losses was $43,000,000 compared to $32,054,000 a year ago. Income before taxes was $21,480,000 compared to $11,759,000 a year ago. Net income was $14,420,000 or $1.48 per diluted share compared to $8,311,000 or $0.87 per diluted share a year ago. Book value per common share was $11.92 and $10.02 as of December 31, 2015 and December 31, 2014, respectively. Tangible book value per common share was $11.66 and $9.67 as of December 31, 2015 and December 31, 2014, respectively.