In Brief: Carolina First's Earnings Surge 38.5%

LINCOLNTON, N.C. - Carolina First BancShares reported record earnings of $956,000, or 67 cents per share, in the first quarter.

The 38.5% increase resulted primarily from strong loan growth and improved interest spreads, the bank said.

Assets grew by 7.4%, to $328 million. Deposits rose by 6.6%, to $301 million, primarily in transaction accounts and certificates of deposits, the bank said. Loans grew by 14%, to $229 million.

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