CresCom Bank Opens First Branch in Greenville, S.C.
CHARLESTON, S.C., June 11, 2015 /PRNewswire/ -- CresCom Bank, the wholly-owned bank subsidiary of Carolina Financial Corporation (NASDAQ: CARO), has announced plans to open its first branch within the Greenville, S.C. market. The full-service branch will be located at 3695 E. North St. and is expected to open in the fall of 2015.
Last summer, CresCom Bank added local market leader Scott Frierson to its team to help lead efforts for its newly created loan production office in Greenville.
Currently, CresCom Bank has 26 branch locations throughout the Carolinas, in addition to the loan production offices in Wilmington, N.C. and Greenville, S.C. The new Greenville branch will represent the 27th branch location and adds to the community bank's growing presence throughout the Carolinas.
South Carolina locations include: Cane Bay, Conway (two locations,) Garden City, Heath Springs, James Island, Litchfield/Pawleys Island, Little River, downtown Charleston, Mount Pleasant, Myrtle Beach, North Charleston, North Myrtle Beach, Socastee and St. George.
CresCom Bank's North Carolina locations include: Chadbourn, Elizabethtown, Holden Beach, Shallotte, Southport (two branches), Sunset Beach, Tabor City and Whiteville.
"We're excited for the opportunity to open our first full-service branch within the Greenville community later this year," said Carolina Financial Corporation President and CEO Jerry Rexroad. "The Upstate is a growing market and we're pleased to bring our relationship based banking services and products to its residents. Through Scott's leadership, and branch employees that live in and know the local market first hand, we know we'll be able to provide a quality customer experience for customers that choose us for their banking needs."
For additional information about CresCom Bank or to locate a local branch, visit www.haveanicebank.com.
In addition to its branches, CresCom Bank currently owns and operates Crescent Mortgage Company which lends in 45 states, and partners with 2,000 community banks, credit unions and mortgage brokers, and offers access to various loan programs. Carolina Financial Corp. (NASDAQ: CARO), the parent company of CresCom Bank, was just ranked #1 on American Banker's list of "Top 200 Community Banks and Thrifts as Ranked by Three-Year Average ROE."
On April 24, 2015, Carolina Financial Corporation reported net income for the first quarter of 2015 which increased approximately 55% to $3.0 million, or $0.38 per share diluted compared to $1.9 million, or $0.25 per share diluted, for the first quarter of 2014.
About Carolina Financial Corporation
Carolina Financial Corporation (NASDAQ: CARO) is the holding company of CresCom Bank, which also owns and operates Atlanta-based Crescent Mortgage Company. As of March 31, 2015, Carolina Financial Corporation had approximately $1.3 billion in total assets and Crescent Mortgage Company originated loans in 45 states, and partnered with approximately 2,000 community banks, credit unions and mortgage brokers. In 2014, Carolina Financial was added to the Nasdaq Community Bank Index (ABAQ) by the American Bankers Association. It also ranked #1 on American Banker's 2015 list of "Top 200 Community Banks and Thrifts as Ranked by Three-Year Average ROE." During 2014, CresCom Bank completed two branch acquisitions and grew from 11 to 26 branch locations. In addition, in 2014 the Company added loan production offices in Greenville, S.C., and Wilmington, N.C. To learn more about CresCom Bank, visit www.haveanicebank.com or call 1-855-CRESCOM.
SOURCE Carolina Financial Corporation
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