Carolina Financial Corporation Stock Company Profile

Description

Carolina Financial Corporation operates as the holding company for CresCom Bank that provides various traditional community banking services to individuals and businesses in South Carolina. The company operates in Community Banking and Wholesale Mortgage Banking segments. Its deposit products include checking accounts, commercial accounts, noninterest-bearing demand accounts, interest-bearing demand and savings accounts, retirement accounts, and daily money market accounts and longer-term certificates of deposit. The company’s loan portfolio comprises loans to small and medium-sized businesses, residential and commercial construction and development loans, commercial real estate loans, residential mortgage loans, residential lot loans, home equity loans, and consumer loans. It also provides online and bill payment services, wire transfer services, safe deposit box rentals, and debit card and ATM card services, as well as a network of ATMs. In addition, the company offers mortgage banking services comprising correspondent lending and loan servicing. It operates 27 branches comprising 8 in the Charleston market, 8 in the Myrtle Beach market, 9 in southeastern North Carolina, and 2 in other South Carolina markets. The company also operates loan production offices in Greenville and Wilmington. Carolina Financial Corporation was incorporated in 1996 and is based in Charleston, South Carolina.