Carolina Bank Holdings Inc. reported a third-quarter loss Tuesday of $2.1 million, compared to a $110,000 loss a year earlier.
Net chargeoffs at the $700.2 million-asset Greensboro, N.C., company more than doubled, to $5.26 million from $2.26 million a year earlier. The loan-loss provision nearly quadrupled, to $6.6 million.
Still, it managed to report record quarterly net interest income of $6.06 million, a 16.8% increase from a year earlier. The net interest margin expanded by 45 basis points from a year earlier, to 3.7%.
