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CAROLINA FINANCIAL CORPORATION NAMED TOP PERFORMER BY ABA BANKING JOURNAL

July 19, 2013, Charleston, S.C. – Carolina Financial Corporation, the holding company for CresCom Bank, a S.C. state-charted community bank, ranks #9 on ABA Banking Journal’s recent national list of non-S banks and thrifts with total assets of $100 million to $1 billion. ABA Banking Journal attributes opportunistic loan growth, core funding growth, and the development of new revenue sources as key characteristics of top performing institutions. The complete list appears in the June issue of the journal.

ABA Banking Journal, the flagship monthly magazine of the American Bankers Association, dedicated toward helping executives at commercial and savings banking institutions succeed in the competitive financial services market.

“The ABA Banking Journal’s #9 ranking is a milestone accomplishment for Carolina Financial Corporation,” said Jerry L. Rexroad, Carolina Financial Corporation chief executive officer. “It is really a testament to our team’s hard work through this incredibly challenging time and our ability to dramatically improve our overall profitability through our wholesale mortgage business and the improving profitability of our bank operations.”

Currently, Carolina Financial Corporation operates 10 CresCom Bank branch locations within South Carolina and Crescent Mortgage Corporation in Atlanta, G.A.   

About Crescent Mortgage Company
Founded in February 1993, Crescent Mortgage Company was conceived by mortgage industry leaders in the southeastern United States to provide an unparalleled level of service and mortgage products to its customers. As a wholesale and correspondent mortgage lender, Crescent Mortgage Company is committed to daily exceeding the expectations of customers and delivers the highest in quality mortgage products and services in 42 states.

Primary customers of Crescent Mortgage Company include:  community banks; credit unions; and mortgage brokers throughout the United States. Crescent Mortgage Company offers access to various loan programs including conventional loan programs through: Fannie Mae; Freddie Mac; Federal Housing Administration (FHA); VA; the United States Department of Agriculture (USDA) Rural Housing; and Jumbo financing.

The Crescent Mortgage Company team includes: Jerry Rexroad, who serves as CEO and chairman of the board of directors; President and national sales manager, Fowler Williams, CMB; chief operating officer Kelly Byers; and chief financial officer William Gehman, CPA.

In 2003, Crescent Mortgage Company was acquired by a bank holding company, Carolina Financial Corporation, and in 2009 became a wholly owned subsidiary of Community FirstBank, a community bank within Carolina Financial Corporation.

Crescent Mortgage Company is based in Georgia, with its headquarters located at 5901 Peachtree Dunwoody Road NE, Building C, Suite 250, in Atlanta. For additional information about Crescent Mortgage Company, call 1-800-851-0263 or visit www.crescentexpress.net.

About Carolina Financial Corporation
Carolina Financial Corporation is the holding company for CresCom Bank, a South Carolina state chartered community bank, which began operations in March 2012 following the merger of the company’s former subsidiary banks, Crescent Bank and Community FirstBank.  CresCom Bank operates 10 branch locations along the coast of South Carolina.  Offering a strong core of banking products and services and a committed group of community leaders, management and personnel, CresCom Bank remains committed to warm, exceptional service and a strong knowledge of local businesses and economic trends.

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