American Banker Ranks Carolina Financial Corporation #1 on its Annual List of Top 200 Publicly Traded Community Banks
May 12, 2015
CHARLESTON, SC – Carolina Financial Corporation (NASDAQ: CARO) was #1 on American Banker’s list of Top 200 Publicly Traded Community Banks and Thrifts with assets less than $2 Billion as ranked by three-year average return on average equity (ROAE) that was released in late April. The Charleston, S.C.-based company, which is the holding company of CresCom Bank, reported a three-year average ROAE of 20.89 percent and represents one of only three South Carolina publicly traded community banks included on American Banker’s annual list.
Last year, Carolina Financial Corporation ranked #6 on the annual list with a three-year average ROAE of 17.1 percent.
For last year’s “Top 200” list, institutions had to have a three-year average ROAE of 8.66 percent. This year, institutions needed 8.76 percent to make the list.
“We’re pleased to see Carolina Financial Corporation top this year’s American Banker list,” Jerry Rexroad, Carolina Financial Chief Executive Officer, said.
In April, Carolina Financial Corporation reported its first quarter 2015 financial results, including a 55 percent net income increase over the comparable prior year quarter, which was attributed to strong loan growth, core deposit growth, its latest acquisition of thirteen branch locations in North Carolina and South Carolina, fee income growth in its retail mortgage operations, as well as improved operating results from its wholesale mortgage subsidiary, Crescent Mortgage Company.
As of March 31, 2015, Carolina Financial Corporation had approximately $1.3 billion in total assets, while Crescent Mortgage Company originated loans in 45 states, and partnered with approximately 2,000 community banks, credit unions and mortgage brokers.
Carolina Financial Corporation currently has 26 CresCom Bank branches throughout North Carolina and South Carolina. For more information about CresCom Bank, visit www.haveanicebank.com.
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, visitwww.haveanicebank.com or call 1-855-CRESCOM.
