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) April 14, 2003
CAROLINA BANK HOLDINGS, INC.
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(Exact name of Registrant as specified in its charter)
North Carolina 000-31877 56-2215437
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(State or other jurisdiction (Commission File No.) (IRS Employer Identification
of incorporation) number)
2604 LAWNDALE DRIVE, GREENSBORO, NC 27408
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(Address of principal executive offices)
Registrant's telephone number, including area code (336) 288-1898
Not Applicable
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(Former address of principal executive offices)
Item 5. Other Events.
The Registrant announced that for the period ended March 31, 2003, total assets
increased 29% to $194,931,000, net loans increased 27% to $141,500,000 and
deposits increased 30% to $161,743,000. Net income for the period ended March
31, 2003 increased $230,000, or 164%, compared to that of the period ended March
31, 2002. Earnings per share for the period ended March 31, 2003 increased 50%
to $0.12. The increase in earnings per share was not proportional because the
Registrant issued 805,000 new shares of its common stock in a successful
secondary offering in December 2002, which were not outstanding at March 31,
2002. The Registrant presented selected financial information on a quarterly
basis for the period ended March 31, 2003, as well as year-end results for the
years ended December 31, 2002, 2001 and 2000. This unaudited selected financial
information is attached to Registrant's press release.
The Registrant also disclosed that it has acquired property in Asheboro, NC
which will serve as the location of its next full-service branch office. The
Registrant currently expects that this office, which will incorporate the
Registrant's existing loan production office located in Asheboro, will open for
business during the fourth quarter of 2003.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CAROLINA BANK HOLDINGS, INC.
By: /s/ Robert T. Braswell
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Robert T. Braswell
President and Chief Executive Officer
Dated: April 15, 2002
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EXHIBIT INDEX
Exhibit
Number Description of Exhibit
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99.1 Press Release
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