Attached files
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| EX-99.1 - EXHIBIT 99.1 - Carolina Trust BancShares, Inc. | bp0937x2_ex99-1.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 22, 2018
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Carolina Trust BancShares, Inc.
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(Exact Name of Registrant as Specified in Charter)
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North Carolina
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000-55683
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81-2019652
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(State or Other Jurisdiction
of Incorporation)
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(Commission File Number)
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(IRS Employer
Identification No.)
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901 East Main Street, Lincolnton, North Carolina
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28092
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(Address of Principal Executive Offices)
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(Zip Code)
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Registrant’s Telephone Number, Including Area Code: (704) 735-1104
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Not Applicable
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(Former name or former address, if changed since last report)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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☐
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 30.425)
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☐
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 – Results of Operations and Financial Condition
On March 22, 2018, Carolina Trust BancShares, Inc. (the “Registrant”) issued a news release to announce a revision to its previously announced financial results for the three months ended December 31, 2017. The news release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
The release announces a net loss of $354,000 for the 3 months ended December 31, 2017, which was $158,000 more than the net loss reported in an earnings release on January 26, 2018. The revision was due to additional income tax expense of $158,000, which arose when the Company revised its estimated tax charge for the revaluation of deferred tax assets required when the Tax Cuts and Jobs Act was signed into law. The estimated tax charge was revised to correct an error in the utilization of net operating loss carryforwards in the original estimate.
This information contained in Item 2.02 of this Current Report shall not be deemed “filed” for purposes of section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 – Financial Statements and Exhibits
(d) Exhibits
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Exhibit No.
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Description
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Press Release issued on March 22, 2018
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Signatures
Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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Carolina Trust BancShares, Inc.
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March 28, 2018
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By:
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/s/ Edwin E. Laws
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Edwin E. Laws
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Executive Vice President and Chief Financial Officer
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