Bank of North Carolina Company Reports Record Net Income in 2012
Burlington, NC -- (SBWire) -- 02/18/2013 --Bank of North Carolina company Carolina Bank Holdings, Inc. (CLBH) has reported record net income of $7.5 million and earnings per share of $1.85 in 2012. Net income increased 213 percent over 2011.
The company’s Burlington bank branch, which opened in 2005 and expanded in 2006, contributed to the impressive financial results. The net income available to common shareholders was $6.276 million in 2012, an increase of 413 percent over 2011.
High Point NC banks like Carolina Bank are highly trusted by North Carolina residents. Residential mortgage loan originations through Carolina Bank Holdings, Inc. rose to a record $1.23 billion in 2012 from $784 million in 2011.
Winston Salem banks that include the Carolina Bank location at Westbrook Plaza are a vital part of the community. Carolina Bank, for example, continues to maintain 'Well Capitalized' status, the highest regulatory capital measure.
Carolina Bank Holdings, Inc. reports non-interest-bearing demand deposits increased 27.1 percent in 2012 to $73,032,000 on Dec. 31, 2012. Non-performing assets to total assets declined to 2.75 percent on Dec. 31, 2012 from 4.40 percent on Dec. 31, 2011. CLBH stock increased 200 percent to $7.35 on Dec. 31, 2012 from $2.45 on Dec. 31, 2011.
Non-performing assets to total assets decreased to 2.75 percent on Dec. 31, 2012 from 4.40 percent on Dec. 31, 2011. Robert T. Braswell, President and CEO of Carolina Bank Holdings, Inc. commented, "We continue to maintain a steady focus on improving asset quality and have seen a substantial improvement in credit quality over the past two years. Unlike some of our peers, who have taken massive losses on large problem asset sales with accompanying capital raises, we have maximized shareholder value and avoided shareholder dilution by our steady focus and hard work approach to an industry wide problem."
About Carolina Bank Holdings:
Carolina Bank, the banking subsidiary of Carolina Bank Holdings, Inc. began banking operations on Nov. 25, 1996. The parent company is a North Carolina corporation organized in 2000. The bank is engaged in lending and deposit gathering activities in the Piedmont Triad of North Carolina, with operations in four counties: Guilford, Alamance, Forsyth and Randolph. The bank has eight full-service banking locations, four in Greensboro, one in Asheboro, one in High Point, one in Burlington, and one in Winston-Salem and mortgage loan production offices in Burlington, Raleigh, and Hillsborough. The Company's stock is listed on the NASDAQ Global Market under the symbol CLBH. For more information, please visit www.carolinabank.com.
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