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Carolina Trust BancShares recalculates earnings for tax reform-related hit

Lincolnton, N.C.-based Carolina Trust BancShares Inc. adjusted its previously reported earnings for the quarter ended Dec. 31, 2017, to account for a $158,000 adjustment related to the new corporate tax rate.

Carolina Trust BancShares' net loss for the quarter has been revised to $354,000, or 7 cents per share. The company on Jan. 26 reported a net loss of $196,000, or 4 cents per share, for the quarter.