Last $0.90 USD
Change Today 0.00 / 0.00%
Volume 3.7K
As of 8:10 PM 08/22/14 All times are local (Market data is delayed by at least 15 minutes).

bank of the carolinas(nc) (BCAR) Snapshot

Open
$0.86
Previous Close
$0.90
Day High
$0.90
Day Low
$0.86
52 Week High
07/29/14 - $1.35
52 Week Low
06/3/14 - $0.42
Market Cap
415.8M
Average Volume 10 Days
22.2K
EPS TTM
$-0.46
Shares Outstanding
462.0M
EX-Date
04/13/09
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for BANK OF THE CAROLINAS(NC) (BCAR)

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bank of the carolinas(nc) (BCAR) Details

Bank of the Carolinas Corporation operates as the holding company for Bank of the Carolinas that provides commercial and consumer banking services primarily in the Piedmont region of North Carolina. Its deposit products include business and individual checking accounts, savings accounts, negotiable order of withdrawal accounts, certificates of deposit, and money market checking accounts, as well as fixed interest rate certificates with varying maturities. The company’s loan products portfolio comprises consumer and commercial loans offered to individuals and small-and medium-sized businesses for various personal, business, and agricultural purposes, including term and installment loans, commercial and equity lines of credit, and overdraft checking credit; and commercial operating and working capital loans, residential mortgage loans, home equity lines of credit, other consumer loans, and loans secured by commercial real estate. The company was founded in 1998 and is based in Mocksville, North Carolina.

bank of the carolinas(nc) (BCAR) Top Compensated Officers

Vice Chairman, Chief Executive Officer, Presi...
Total Annual Compensation: $220.0K
Principal Financial Officer, Principal Accoun...
Total Annual Compensation: $110.5K
Chief Operating Officer and Executive Vice Pr...
Total Annual Compensation: $167.5K
Executive Vice President
Total Annual Compensation: $155.3K
Compensation as of Fiscal Year 2013.

bank of the carolinas(nc) (BCAR) Key Developments

Bank of the Carolinas Corporation Reports Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended June 30, 2014; Reports Net Loan Charge Offs

Bank of the Carolinas Corporation reported unaudited consolidated financial results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net income available to common shareholders of $599,000 or $0.15 per basic and diluted share as compared to net loss available to common shareholders of $1,306,000 or $0.33 per basic and diluted share last year. Total interest income was $3,787,000 compared to $3,746,000 last year. Net interest income was $2,698,000 compared to $2,604,000 last year. Income before income taxes was $887,000 compared to loss before income taxes of $722,000 last year. Net income was $887,000 compared to net loss of $1,063,000 last year. Return on average assets was 0.83% compared to negative 0.99% last year. Return on average common shareholders' equity was 23.68% compared to negative 119.46% last year. Book value per common share was negative $2.75 compared to $2.67 per share last year. For the six months, the company reported net loss available to common shareholders of $1,172,000 or $0.30 per basic and diluted share, compared to net loss available to common shareholders of $1,412,000 or $0.36 per basic and diluted share last year. Total interest income was $7,536,000 compared to $7,565,000 last year. Net interest income was $5,363,000 compared to $5,245,000 last year. Loss before income taxes was $635,000 compared to loss before income taxes of $288,000 last year. Net loss was $635,000 compared to net loss of $926,000 last year. Return on average assets was negative 0.30% compared to 0.43% last year. Return on average common shareholders' equity was negative 23.44% compared to 63.67% last year. Book value per common share was negative $2.75 compared to $2.67 per share last year. For the quarter, the company reported net loan charge offs amounted to $671,000 as compared to net loan charge offs of $88,000 in the second quarter of 2013.

Bank of the Carolinas Corp. Amends its Articles of Incorporation

Effective July 24, 2014, Bank of the Carolinas Corp. amended its articles of incorporation for the purpose of fixing the preferences, limitations, and relative rights of a new series of its preferred stock, designated as Junior Participating Preferred Stock, Series B. The creation of the Series B Preferred Stock is required under the terms of the Company’s Tax Benefits Preservation Plan dated as of July 11, 2014.

Bank of the Carolinas Corp. Approves Amendment to Articles of Incorporation

Bank of the Carolinas Corporation held a special meeting of shareholders on May 22, 2014, in the meeting the shareholders approved an amendment to article of the Company’s articles of incorporation to increase the number of shares of common stock which the Company has the authority to issue from 15,000,000 to 580,000,000 and approved an amendment to article of the Company’s articles of incorporation to reduce the par value of the Company’s common stock from $5.00 per share to no par value per share and to create a class of non-voting common stock.

 

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