Crescent Mortgage Company’s Board of Directors names Fowler Williams CEO
March 9, 2016
Crescent Mortgage Company, an Atlanta-based mortgage company owned and operated by Carolina Financial Corporation (NASDAQ: CARO), recently announced that its Board of Directors has named current President Fowler Williams its chief executive officer.
Fowler, who began his career with Crescent Mortgage Company in 1999 as an account executive, was named to the position of president in 2011 where his responsibilities include overseeing the national sales force, while providing leadership in all areas of the organization.
Currently, Fowler serves as the chairman of the Mortgage Action Alliance (MAA) and chairman of the Community Bank and Credit Union Network for the Mortgage Bankers Association. He also serves on the Freddie Mac Community Bank Advisory Board.
In tandem with Fowler’s new position, Carolina Financial Corporation President Jerry Rexroad has been named the executive chairman of Crescent Mortgage Company.
In addition to serving as the holding company for Crescent Mortgage Bank, Carolina Financial Corporation also owns and operates CresCom Bank, a leader in community banking within the Carolinas.
For additional information about Carolina Financial Corporation and Crescent Mortgage Company, 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 December 31, 2015, Carolina Financial Corporation had approximately $1.4 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 Corporation 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, SC, and Wilmington, NC. In August 2015, the Company opened its first full-service branch in Greenville, SC. On December 14, 2015, the Company closed a public offering of 2,262,296 shares of its common stock with net proceeds of approximately $32.1 million after deducting underwriting discounts, commissions and estimated offering expenses incurred by the Company. In January 2016, the Company announced the acquisition of Congaree Bancshares, Inc., a $116 million bank holding company headquartered in the Columbia, S.C. market.
