CresCom Bank Secures Top Honor From Bauer Financial With Five-Star Bank Ranking
CHARLESTON, S.C., Aug. 23, 2016 – CresCom Bank, the community-banking leader within the Carolinas, is proud to announce it has received a five-star bank rating from Bauer Financial, an independent bank analysis and reporting institution.
The prestigious five-star rating marks CresCom Bank as a “superior” institution within the banking community. This five-star rating indicates that CresCom Bank has at least twice the capital strength that regulators require, is sufficiently profitable and is a testament to the bank’s commitment to stringent banking standards. CresCom Bank can now also be found on Bauer’s Recommended Bank Report due to this rating.
“We are very pleased that our institution has received this five-star rating,” said David L. Morrow, CEO of CresCom Bank. “This goes to show the dedication and drive our CresCom Bank team has in being committed to financial excellence and superior banking standards.”
Bauer Financial rates financial institutions four times per year based off of their financial reports submitted to federal regulators. Upon completion, a star rating is assigned from zero to five based on capital, profits and loan status. For more information about Bauer Financial, visit http://www.bauerfinancial.com/home.html.
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 June 30, 2016, Carolina Financial Corporation had approximately $1.6 billion in total assets.
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North Myrtle Beach
Greenville Loan Production Office