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CRESCOM BANK AND CAROLINA FINANCIAL CORPORATION NAME THOMPSON E. PENNEY TO BOARD OF DIRECTORS

December 4, 2012, Myrtle Beach (Charleston), S.C. – Representatives of CresCom Bank and its holding company Carolina Financial Corporation today announced the addition of Thompson E. Penney, FAIA, to both the holding company and bank’s board of directors.

A native and long-standing Charleston resident, Penney is a graduate of Clemson University with a master of architecture degree. Penney has more than 38 years of experience in the architectural field, serving as the president and chief executive officer of LS3P Associates LTD since 1989.

Under Penney’s leadership, LS3P has grown to become a firm consistently recognized by Engineering News and Record as one of the Top 500 Design Firms, Top 50 Architectural Firms and Top 50 Green Design Firms in the United States.

Penney has made significant contributions to the Charleston community and the architecture industry, having served as chair of the Charleston Metro Chamber of Commerce and national president of the American Institute of Architects. He is also on the boards of the South Carolina Aquarium, the Charleston Regional Development Alliance and the Trident CEO Council.

“We are extremely pleased to add Thom to the board of directors for Carolina Financial Corporation and CresCom Bank,” said Lt. General Claudius “Bud” Watts, III, chairman of both Carolina Financial Corporation and CresCom’s board of directors. “He brings a wealth of experience with running a large company with multiple offices across the country. We look forward to Thom making a significant contribution to our boards.” 

About Carolina Financial Corporation
Carolina Financial Corporation is a financial services holding company with $850 in assets, as of September 31, 2012. Based in Charleston, S.C., the company operates CresCom Bank, which resulted from the consolidation of Carolina Financial Corporation’s two wholly owned community banks, Community FirstBank in Charleston, S.C., and Crescent Bank in Myrtle Beach S.C. CresCom has 10 locations along the coast of South Carolina, as well as Crescent Mortgage Company, a wholesale mortgage lender operating in 42 states.

About CresCom Bank
CresCom Bank’s origins were derived from the 2012 consolidation of Crescent Bank and Community FirstBank.

Both Community FirstBank (Charleston) and Crescent Bank (Myrtle Beach) were founded by local business leaders committed to building successful banks in both cities under the umbrella of parent holding company Carolina Financial Corporation. The reason for both banks forming was the same: as a response to several large bank mergers that left few community banking choices for area residents and businesses.

CresCom Bank has 10 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.

It’s this dedication that makes "Have a nice bank." more than just a slogan, but a commitment to service. This combined with years of experience and unique understanding of financial opportunities along coastal South Carolina that makes CresCom Bank the perfect fit for either personal or business financial needs.

To learn more about CresCom Bank, visit www.haveanicebank.com or www.facebook.com/CrescomBank or call 1-855-CRESCOM.

About LS3P
Established in 1963, LS3P Associates LTD. is a multi-disciplinary firm offering architectural, interior architecture, and strategic visioning services to a wide variety of clients nationwide. LS3P is dedicated to well-conceived master planning, quality architecture, and a satisfied client. Their mission is simple: to engage clients and communities, to design meaningful places, with proven results that transform. As such, the firm has carefully assembled an experienced staff that represents a strong degree of technical ability and professional dedication for a full-service practice that provides award-winning architecture and interior architecture.

With offices centrally located to all regions of the Southeast—Charleston, Columbia, Greenville, Charlotte, Raleigh, and Wilmington—coupled with a staff of over 200 professionals, LS3P is committed to bringing state-of-the-art design, technology, and expertise of a strong regional firm closer to our clients on a local level. This network of offices allows LS3P to think globally and act locally. The combined offices have received nearly 350 awards for excellence in design utilizing practical yet creative solutions to enhance client strategies. To learn more about LS3P, visit www.ls3p.com or call 843-577-4444.
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