ATLANTA (AP) — Atlantic Capital Bancshares Inc. (ACBI) on Thursday reported fourth-quarter net income of $8.8 million, after reporting a loss in the same period a year earlier.
The bank, based in Atlanta, said it had earnings of 34 cents per share. Earnings, adjusted to account for discontinued operations, were 30 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.
The bank holding company posted revenue of $26.8 million in the period. Its revenue net of interest expense was $21.2 million, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $26.6 million.
For the year, the company reported net income of $28.5 million, or $1.09 per share, swinging to a profit in the period. Revenue was reported as $86.3 million.
Atlantic Capital Bancshares shares have climbed 10 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $18.08, a climb of slightly more than 1 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ACBI at https://www.zacks.com/ap/ACBI
