Company Quick10K Filing
Carolina Trust Bancshares
10-Q 2019-09-30 Filed 2019-11-13
10-Q 2019-06-30 Filed 2019-08-13
10-Q 2019-03-31 Filed 2019-05-14
10-K 2018-12-31 Filed 2019-03-28
10-Q 2018-09-30 Filed 2018-11-09
10-Q 2018-06-30 Filed 2018-08-10
S-1 2018-04-06 Public Filing
10-Q 2018-03-31 Filed 2018-05-14
10-K 2017-12-31 Filed 2018-03-27
10-Q 2017-09-30 Filed 2017-11-13
10-Q 2017-06-30 Filed 2017-08-11
10-Q 2017-03-31 Filed 2017-05-12
10-K 2016-12-31 Filed 2017-03-24
10-Q 2016-09-30 Filed 2016-11-10
8-K 2019-12-31 M&A, Shareholder Rights, Control, Officers, Amend Bylaw, Exhibits
8-K 2019-12-18 Shareholder Vote, Other Events, Exhibits
8-K 2019-10-31 Earnings, Exhibits
8-K 2019-09-10 Officers
8-K 2019-07-30 Earnings, Exhibits
8-K 2019-07-15 Enter Agreement, Other Events, Exhibits
8-K 2019-05-21 Shareholder Vote
8-K 2019-05-14 Regulation FD, Exhibits
8-K 2019-05-03 Earnings, Exhibits
8-K 2019-03-18
8-K 2019-01-30 Regulation FD, Exhibits
8-K 2019-01-29 Earnings, Exhibits
8-K 2019-01-22 Officers, Exhibits
8-K 2019-01-01 M&A, Other Events, Exhibits
8-K 2018-12-12 Shareholder Vote, Other Events, Exhibits
8-K 2018-11-21 Other Events
8-K 2018-11-13 Regulation FD, Exhibits
8-K 2018-10-26 Earnings, Exhibits
8-K 2018-08-31 Officers, Exhibits
8-K 2018-07-26 Earnings, Exhibits
8-K 2018-06-15 Other Events, Exhibits
8-K 2018-06-14 Enter Agreement, Exhibits
8-K 2018-05-31 Officers, Exhibits
8-K 2018-05-14 Other Events, Exhibits
8-K 2018-05-02 Regulation FD, Exhibits
8-K 2018-05-02 Regulation FD, Exhibits
8-K 2018-04-26 Earnings, Exhibits
8-K 2018-04-23 Other Events, Exhibits
8-K 2018-04-18 Enter Agreement, Other Events, Exhibits
8-K 2018-04-16 Earnings, Regulation FD, Exhibits
8-K 2018-03-29 Other Events
8-K 2018-03-22 Earnings, Exhibits
8-K 2018-02-01 Amend Bylaw, Exhibits
8-K 2018-01-26 Earnings, Exhibits

Carolina Trust Bancshares Financials

CART Metrics, Comps, Filings

Quarterly | Annual

Business

Corporate history. Carolina Trust BancShares, Inc. (the "Company") was incorporated under the laws of the State of North Carolina on February 29, 2016, at the direction of the Board of Directors of Carolina Trust Bank (the "Bank"). The Company was formed for the purpose of serving as the bank holding company of the Bank. Effective August 16, 2016, shareholders of the Bank exchanged all of the Bank's outstanding shares of common stock for shares of the Company's common stock on a one-for-one basis, thereby making the Company the Bank's sole shareholder and bank holding company. The Company is registered under the Bank Holding Company Act of 1956, as amended ("BHCA") and is subject to the supervision and regulation of the Board of Governors of the Federal Reserve System (the "Federal Reserve"). The Company currently has no operations and conducts no business on its own other than owning the Bank. The Company's principal executive offices are located at 901 East Main Street, Lincolnton, North Carolina, which is the main office of the Bank.

The Bank is a North Carolina-chartered commercial bank with its deposits insured by the Federal Deposit Insurance Corporation ("FDIC") up to applicable limits. The Bank is not a member of the Federal Reserve System. The Bank was incorporated on December 5, 2000, and began operations on December 8, 2000. On October 15, 2009, the Bank acquired Carolina Commerce Bank, Gastonia, North Carolina ("Carolina Commerce"), with Carolina Commerce being merged with and into the Bank. On January 1, 2019, the Company acquired Clover Community Bankshares, Inc. ("Clover"), the parent holding company for Clover Community Bank, Clover, South Carolina. Pursuant to the Agreement and Plan of Merger and Reorganization between the Company and Clover dated June 14, 2018, Clover merged with and into the Company, with the Company being the surviving corporation in the merger. Immediately following the parent merger, Clover Community Bank was merged with and into Carolina Trust Bank, also effective January 1, 2019.

Employees. At December 31, 2018, the Company and the Bank together had 80 full-time and 8 part-time employees.


Valuation ($MM)

Market Cap, Enterprise Value

Balance Sheet ($MM)

Assets, Equity

Income Statement ($MM Quarterly)

Revenue, G Profit, Net Income

Cash Flow ($MM Quarterly)

Ops, Inv, Fin

Comps ($'000 TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Standard AVB Financial (STND) 129,706 9.9 0% 991,488 850,205 0 0 0 10,173 100,429
Bancorp of New Jersey (BKJ) 122,881 1.0 0% 961,684 868,577 0 0 3,422 14,772 14,360
Old Point Financial (OPOF) 122,596 0% 2.7 1% 1,050,595 941,532 40,943 0 5,885 11,435 31,389
Limestone Bancorp (LMST) 113,411 0% 2.4 1% 1,132,164 1,027,837 252 0 11,194 23,105 55,404
Eagle Bancorp Montana (EBMT) 111,205 5.7 1% 1,022,221 901,771 0 0 9,979 21,561 122,844
Severn Bancorp (SVBI) 111,057 2.6 1% 825,919 721,300 0 0 7,166 17,937 45,804
Guaranty Federal Bancshares (GFED) 109,359 0% 1.0 1% 1,016,329 932,604 1,263 0 7,099 23,945 22,937
Two River Bancorp (TRCB) 108,140 0% 2.4 1% 1,146,994 1,023,622 1,008 0 10,992 26,676 64,420
First Western Financial (MYFW) 106,976 0% -2.1 0% 1,271,925 1,146,193 48,005 0 5,437 18,783 -39,200
Riverview Financial (RIVE) 105,599 10.3 0% 1,109,759 992,504 0 0 3,013 10,947 112,550
Landmark Bancorp (LARK) 104,772 5.6 1% 1,008,731 902,693 0 0 7,394 14,707 83,036
Bank of South Carolina (BKSC) 103,956 4.5 2% 453,060 402,740 0 0 7,351 10,095 45,541
Citizens Holding (CIZN) 103,153 7.0 0% 1,049,604 950,605 0 0 3,930 11,800 82,046
Carolina Trust Bancshares (CART) 99,470 6.2 1% 622,535 551,099 0 0 3,582 9,252 57,376
Emclaire Financial (EMCF) 88,086 0% 4.8 1% 941,430 855,499 2,700 0 6,390 14,600 70,534
Randolph Bancorp (RNDB) 85,373 7.8 0% 641,438 561,847 0 0 2,371 9,737 76,143
Community West Bancshares (CWBC) 84,055 0% 1.3 1% 903,252 823,656 481 0 6,603 21,334 27,708
American River Bankshares (AMRB) 80,461 8.6 1% 721,281 638,432 0 0 3,993 7,231 61,881
Fauquier Bankshares (FBSS) 75,825 5.8 1% 726,339 660,363 0 0 6,565 13,031 75,825
Ameriserv Financial (ASRV) 73,601 1.7 1% 1,171,426 1,068,966 0 0 7,287 23,414 40,475

Balance Sheet ($'000)2016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Cash1,4981,4981,4981,4981,4981,4981,4981,4981,4981,49842,25930,56142,094
Accounts Receivable
Inventory
PP&E5,75210,5776,7266,6346,53311,0896,3606,2586,15411,1508,9358,8958,840
Assets372,169374,917382,481390,168400,297406,618446,610470,854465,171475,104621,279617,423622,535
Accounts Payable
Long-Term Debt2,993
Liabilities340,458345,884353,120360,595370,532377,499417,231422,653416,217424,843553,901547,526551,099
Stockholders' Equity29,13129,03329,36129,57329,76529,37948,20148,95450,26167,37869,89771,436
Income Statement ($'000)2016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Revenue3305267
Cost of Revenue
Gross Profit
R&D
SG&A343935373328322731464043
Tax16421410889170016839630073517496
Net Income85335211380351-3545815109153371,8181,427
Cash Flow ($'000)2016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Cash Operating9733648861,0409717971,451-1,2562,1012,421
Cash Investing-9,070-8,656-15,812-12,424-19,270-5,696-8,638-5,013-7,6526,146
Cash Financing2,5907,5027,6989,6806,56139,74123,805-6,80116,588-6,1472,966