BCAR Bank of the Carolinas Corporation featured news, full reports, and detailed charts
Bank of the Carolinas Corporation (BCAR) Wrap Up:
We are a North Carolina-chartered bank holding company that was incorporated on May 30, 2006, for the sole purpose of serving as the parent bank holding company for the Bank. The Bank is an insured, North Carolina-chartered bank that began operations on December 7, 1998, under the name “Bank of Davie.” On August 18, 2006, we completed a corporate reorganization and share exchange in which the Bank became our wholly-owned bank subsidiary. The Bank’s directors and executive officers also serve as our directors and officers and, when the reorganization was completed, the Bank’s shareholders became our shareholders owning the same percentages of our common stock as they previously owned of the Bank’s stock. Our consolidated capitalization, assets, liabilities, income and expenses immediately are substantially the same as those of the Bank. ... More..."http://secfilings.nasdaq.com/edgar_conv_html%2f2008%2f03%2f28%2f0001193125-08-069250.html#FIS_BUSINESS"Bank of the Carolinas Corp. (BCAR:NASDAQ)
Snapshot of Bank of the Carolinas Corp. (BCAR)
|
OPEN
$4.26
|
PREVIOUS CLOSE
$4.27
|
|
|
DAY HIGH
$4.26
|
DAY LOW
$3.77
|
|
|
52 WEEK HIGH
11/24/08 - $6.43
|
52 WEEK LOW
02/20/09 - $3.17
|
|
|
MARKET CAP
15.7M
|
AVERAGE VOLUME 3 mo
1.4K
|
|
|
DILUTED EPS TTM
$-1.43
|
SHARES OUTSTANDING
3.9M
|
|
|
EX-DATE
01/5/09
|
P/E TTM
NM
|
|
|
DIVIDEND
$0.20
|
DIVIDEND YIELD
4.98%
|
|
| K = Thousands M = Millions B = Billions | ||
BCAR Top Compensated Officers
Executives, Board Directors
Key developments for Bank of the Carolinas Corp. (BCAR)
Bank of the Carolinas Corp. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For quarter, the company reported net income of $782,000, as compared to a net loss of $2,720,000 in the third quarter of 2008. Net income available to common shareholders for the three months ended September 30, 2009 was $470,000, or $0.12 per diluted share, compared to a net loss of $0.69 per common share in the 2008 quarter. Income before income taxes was $919,000 against loss of $3,810,000 for the same period a year ago. Total Interest Income was $7,529,000 against $7,531,000 for the same period a year ago. For the nine month period ended September 30, 2009, the company reported a net loss of $1,352,000 compared to a net loss of $2,984,000 for the same period of 2008. The net loss available to common shareholders for the nine month period of 2009 was $1,763,000, or $0.45 per common share compared to a net loss of $0.76 per share incurred during the first nine months of 2008. For the first nine months of 2009 net interest income was $10.3 million, a 9.4% increase from the comparable period of 2008. These positive results were due to increased interest margins principally brought about by reduced cost of interest-bearing deposits. Loss before income taxes was $2,328,000 against $4,212,000 for the same period a year ago. Total Interest Income was $22,499,000 against $22,781,000 for the same period a year ago. Net Interest Income was $4,096,000 against $3,010,000 for the same period a year ago. Negative return on average assets was 0.29% against 0.76% for the same period a year ago. Negative shareholders' equity was 6.76% against 10.46% for the same period a year ago.
Bank of the Carolinas Corp. restated consolidated earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the company's operations reflecting after tax losses available to common shareholders of $1,578,000 as compared with the previously announced net loss available to common shareholders of $1,534,000 for the quarter. Basic and diluted loss per common share was $0.41, as compared with the previously announced amounts of $0.38. For the six months, the company's operations reflecting after tax losses available to common shareholders of $2,233,000 as compared with the previously announced net loss available to common shareholders of $2,189,000 for the year-to-date. Basic and diluted loss per common share was $0.57, as compared with the previously announced amounts of $0.55. Also, as a result of these changes negative ROA and negative ROE changed from 0.73% and 9.14% to 0.74% and 9.33%, respectively.
Bank of the Carolinas Corp. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the Company reported a net loss of $1,479,000, as compared to a net loss of $259,000 in the second quarter of 2008. The net loss available to common shareholders for the three months ended June 30, 2009 was $1,534,000 against $259,000 for the same period a year ago. Diluted loss per share was $0.38 for the second quarter of 2009 compared to $0.07 per diluted share for the same period in 2008. As with the last several quarters, company's second quarter results were largely impacted by continued pressure on the net interest margin as well as significant provisions for loan loss expense. Second quarter results also were affected by a sizeable increase in other non-interest expense, including a substantial increase in FDIC expense due to the one-time special assessment imposed on all banks and a significant write-down on OREO properties. The company reported loss before income taxes was $2,277,000 on total interest income of $7,433,000 against loss before income taxes was $397,000 on total interest income of $7,353,000 for the same period a year ago. For the six month period ended June 30, 2009, the Company reported a net loss of $2,134,000 or $0.55 per diluted share compared to a net loss of $264,000 or $0.07 per diluted share for the same six month period of 2008. The net year to date loss available to common shareholders at June 30, 2009 was $2,189,000 against $264,000 for the same period a year ago. The company reported loss before income taxes was $3,247,000 on total interest income of $14,970,000 against loss before income taxes was $402,000 on total interest income of $15,250,000 for the same period a year ago. The company reported negative return on average assets of 0.73% and return on average shareholders equity of 9.14% against negative return on average assets of 0.10% and negative return on average shareholders equity of 1.33% for the same period a year ago.
BCAR Competitors
| Company | Last | Change | |
| No competitor information is available for BCAR. | |||
| Market data is delayed at least 20 minutes. | |||
Industry Analysis
| Valuation | BCAR | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | 1.6x |
|
| Price/Book | 0.5x |
|
| Price/Cash Flow | NM | Not Meaningful |
| TEV/Sales | NM | Not Meaningful |
|
BCAR |
||
BCAR transactions
| Type Date |
Target | |
| No transactions in the last 6 months. | ||
More Recent News About Bank of the Carolinas Corporation
More news for BCAR
BANK OF THE CAROLINAS CORP Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements an
Show all filings for BANK OF THE CAROLINAS CORP | Request a Trial to NEW EDGAR Online Pro Form 8-K for BANK OF THE CAROLINAS CORP 20-Aug-2009Results of Operations and Financial Condition, Financial Statements an Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All informati...Click here to read the whole Article (external link)
Bank of the Carolinas Corporation Revises First Quarter and Six Months Operating Results
Copyright © 2009 Yahoo! All rights reserved. Privacy Policy - Terms of Service - Copyright Policy - Report Problems Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quote data delayed 15 minutes for Nasdaq, NYSE and Amex. Real-Time continuous streaming quotes are available through our premium service. You may turn streaming quotes on or off. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Yahoo! is not an investment adviser and does not provide, endorse or review any information or data contained herein....Click here to read the whole Article (external link)
China Mass Media, Bank of the Carolinas: Biggest Price Decliners (CMM, BCAR)
By MARKET DATA STAFF China Mass Media Corp. topped the list of Biggest Percentage Price Decliners among common stocks on the New York Stock Exchange at the close on Friday. See the full list . Bank of the Carolinas topped the list of Biggest Percentage Price Decliners among common stocks on the Nasdaq Stock Market. See the full list . ...Click here to read the whole Article (external link)
BANK OF THE CAROLINAS CORP Financials
Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback Quotes delayed, except where indicated otherwise.Delay times are 15 mins for NASDAQ, 20 mins for NYSE and Amex. See also delay times for other exchanges.Fundamental company data provided by Capital IQ. Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. Real-...Click here to read the whole Article (external link)
Nokia, Bank of the Carolinas: Biggest Price Decliners (NOK, BCAR)
Nokia Corp. ADS topped the list of Biggest Percentage Price Decliners among common stocks on the New York Stock Exchange at midday on Thursday. See the full list . Bank of the Carolinas (NC) topped the list of Biggest Percentage Price Decliners among common stocks on the Nasdaq Stock Market. See the full list . Go to Markets Data Center (WSJMarkets.com) for complete coverage. ...Click here to read the whole Article (external link)
McClatchy, Bank of the Carolinas: Biggest Price Decliners (MNI, BCAR)
McClatchy Co. topped the list of Biggest Percentage Price Decliners among common stocks on the New York Stock Exchange at the close on Thursday. See the full list . Bank of the Carolinas (NC) topped the list of Biggest Percentage Price Decliners among common stocks on the Nasdaq Stock Market. See the full list . Go to Markets Data Center (WSJMarkets.com) for complete coverage. ...Click here to read the whole Article (external link)
BANK OF THE CAROLINAS CORP Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements an
Item 9.01. Financial Statements and Exhibits. Exhibits. The following exhibit is furnished with this Report: Exhibit No. Exhibit Description 99.01 Copy of Registrant's press release dated November 5, 2009 Disclosures About Forward-Looking Statements This Report and its exhibits contain statements relating to our financial condition, results of operations, plans, strategies, trends, projections of results of specific activities or investments, expectations or beliefs about future events or results, and other statements that are not descriptions of historical facts. Those statements may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential" or "continue," or similar terms or the negative of these terms, or other statements concerning opinions or judgments of our management about future events. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors discussed in our Annual Report on Form 10-K and in other documents we file with the Securities and Exchange Commission from time to time. Copies of those reports are available directly through the Commission's website at www.sec.gov. Other factors that could influence the accuracy of such forward-looking statements include, but are not limited to, (a) pressures on the earnings, capital and liquidity of financial institutions res...Click here to read the whole Article (external link)
Bank of the Carolinas Corporation Reports Third Quarter Financial Results
MOCKSVILLE, N.C., Nov. 5 /PRNewswire-FirstCall/ -- Bank of the Carolinas Corporation (Nasdaq: BCAR - News) reported today financial results for the three and nine month periods ended September 30, 2009. For the three month period ended September 30, 2009, the Company reported net income of $782,000, as compared to a net loss of $2,720,000 in the third quarter of 2008. Net income available to common shareholders for the three months ended September 30, 2009 was $470,000, or $.12 per diluted share, compared to a net loss of $.69 per common share in the 2008 quarter.For the nine month period ended September 30, 2009, the Company reported a net loss of $1,352,000 compared to a net loss of $2,984,000 for the same period of 2008. The net loss available to common shareholders for the nine month period of 2009 was $1,763,000, or $.45 per common share compared to a net loss of $.76 per share incurred during the first nine months of 2008.While the Company continues to be negatively affected by the economic downturn, the third quarter of 2009 was the most profitable since the third quarter of 2007. Improved interest margins from lower funding costs, gains from sales of securities and moderating provisions for loan losses were mainly responsible for the improvement in the 2009 periods' results as compared to 2008.Net interest income, the Company's most significant source of revenue, totaled $4.1 million in the third quarter of 2009, a 36.1% increase from the 2008 quarter. For the first nine months of 2009 net interest i...Click here to read the whole Article (external link)
BANK OF THE CAROLINAS CORP Files SEC form 10-Q, Quarterly Report
Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS GENERAL Introduction Bank of the Carolinas Corporation ("the Company") is the parent holding company of Bank of the Carolinas ("the Bank"). Because the Company has no separate operations and conducts no business on its own other than owning the Bank, the discussion contained in this Management's Discussion and Analysis concerns primarily the business of the Bank. However, because the financial statements are presented on a consolidated basis, the Company and the Bank are collectively referred to herein as "the Company" unless otherwise noted. The Bank began operations in December 1998 as a state chartered bank and currently has ten offices in the Piedmont region of North Carolina. The Bank competes for loans and deposits throughout the markets it serves. The Bank, like most community banks, derives most of its revenue from net interest income which is the difference between the income it earns from loans and securities and the interest expense it incurs on deposits and borrowings. Recent Developments In late March 2009, the Company was approved for participation in the Capital Purchase Program (CPP) by the United States Treasury Department. On April 17, 2009, the Company accepted a $13.179 million capital infusion from the United States Treasury in the form of Series A preferred stock. This issue of preferred stock is considered Tier 1 capital for purposes of determining regulatory capital. The stock pays cumulative dividends of 5% per annum for the first five years and 9% per annum thereafter. As a part of the preferred stock issuance, the Company also issued warrants to the United States Treasury to purchase 475,204 shares of the Company's common stock at an exercise price of $4.16 per share with a term of ten years. CHANGES IN FINANCIAL CONDITION Total Assets ...Click here to read the whole Article (external link)