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CresCom Bank Appoints New Wilmington Market Leader/SVP for Retail Mortgage Banking Division

CHARLESTON, S.C., May 2, 2016 – CresCom Bank, the community-banking leader within the Carolinas, has named Wade Burke as senior vice president and Wilmington market leader for its Retail Mortgage Banking division. In his new position, Burke will report to Mark Branstrom and will operate out of the bank’s first Wilmington branch, located at 4710 Oleander Dr. The branch opened on April 18.

Prior to joining CresCom Bank, Burke served as the area sales manager for Bank of America in its Wilmington-based Retail Mortgage Group. His additional banking experience includes time spent at Santander Bank and Wells Fargo as a mortgage sales manager.

Burke received his Bachelor of Arts degree in business management from Rider University.

“We are extremely pleased to welcome Wade to our growing Wilmington team,” said David L. Morrow, CEO of CresCom Bank. “His knowledge of the market combined with his extensive retail mortgage experience will make him a valuable team member as we expand into the North Carolina coastal city.”

About CresCom Bank

CresCom Bank, a leader in community banking, is dedicated to providing exceptional customer service and quality products to the communities it calls home, and prides itself on its strong knowledge of local business and economic trends. Currently, CresCom Bank has 27 branch locations throughout the Carolinas, in addition to a loan production office in Wilmington, N.C. In January 2016, the Carolina Financial Corporation, the bank’s parent company, announced the acquisition of Congaree Bancshares, Inc., a $116 million bank holding company headquartered in the Columbia, S.C. market. Currently, CresCom Bank also owns and operates Crescent Mortgage Company, which lends in 45 states, partners with 2,000 community banks, credit unions and mortgage brokers, and offers access to various loan programs. In 2015, Carolina Financial Corporation (NASDAQ: CARO) ranked #1 on American Banker’s list of “Top 200 Community Banks and Thrifts as Ranked by Three-Year Average ROE.” It was also added to the Nasdaq Community Bank Index (ABAQ) by the American Banker’s Association. As of March 31, 2016, Carolina Financial Corporation had approximately $1.5 billion in total assets.

To learn more about CresCom Bank, call 1-855-CRESCOM. Stay current on bank news and happenings on social media: www.facebook.com/CresComBank and www.twitter.com/CresComBank.

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