CHARLESTON, S.C. (AP) _ Carolina Financial Corp. (CARO) on Friday reported fourth-quarter net income of $16.5 million.

The bank, based in Charleston, South Carolina, said it had earnings of 74 cents per share. Earnings, adjusted for non-recurring costs, came to 78 cents per share.

The holding company for CresCom Bank posted revenue of $57.7 million in the period. Its revenue net of interest expense was $48.6 million, surpassing Street forecasts.

For the year, the company reported profit of $62.7 million, or $2.80 per share. Revenue was reported as $186.4 million.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CARO at https://www.zacks.com/ap/CARO

Automated Insights, source Associated Press News