April 1, 2014, Charleston, S.C. - CresCom Bank announced today that SNL Financial has ranked the bank among the top banks on its annual “Top 50 Southeast” and “Top 50 Nationwide” lists for return on average equity (ROAE) and return on average assets (ROAA.)  Both lists compare commercial banks and savings banks nationwide with assets between $500 million and $2.0 billion as of December 31, 2013.  Return on average equity is one of the most important profitability metrics for a financial institution, as it reveals how much profit a bank earned in comparison to the total amount of stockholders' equity found on the balance sheet.  Return on average assets is the ratio of annual net income to average total assets of the bank during a financial year.  It measures efficiency of the business in using its assets to generate net income.  Return on assets indicates the number of cents earned on each dollar of assets.  Higher values of return on average assets show that a business is more profitable. 

CresCom Bank ranks #1 on the “Top 50 Southeast: ROAE” list with a reported 19.78% ROAE for 2013.  According to the Federal Financial Institutions Examination Council, the average ROAE for all U.S. banks in the fourth quarter of 2013 was 9.48%.  CresCom Bank is one of only two South Carolina banks that made the “Top 50 Southeast: ROAE” list.  The other ranked #49. 

CresCom Bank also ranks #3 on the “Top 50 Southeast: ROAA” list with a reported 2.04% ROAA for 2013 and is the only South Carolina bank that appears on the “Top 50 Southeast: ROAA” list. 

On a national scale, CresCom Bank ranks #4 on SNL Financial’s “Top 50 Nationwide: ROAE” list and #10 on its “Top 50 Nationwide: ROAA” list.  CresCom Bank is the only South Carolina-based bank that appears on either of these lists. 

“We’re extremely pleased to rank #1 for ROAE and #3 for ROAA within the Southeast,” said David L. Morrow, CEO of CresCom Bank. “We are pleased with the performance of CresCom Bank in 2013, and we also benefited from another strong year by our mortgage origination subsidiary, Crescent Mortgage Company, as we generated net income of $5 million in CresCom Bank itself and an additional $12.4 million in Crescent Mortgage Company in 2013.  Our national ranking for both of these metrics is an extremely gratifying accomplishment for which we’ve worked very hard.”

About CresCom Bank
The mission of CresCom Bank is to be recognized as the leader in community banking by creating optimum value for customers and shareholders. CresCom Bank currently has 12 branch locations throughout South Carolina, and offers a strong core of banking products and services. It remains committed to warm, exceptional service and possesses a strong knowledge of local businesses and economic trends. CresCom Bank’s dedication to providing superior quality service exemplifies the bank’s “Have a nice bank” slogan.
Carolina Financial Corporation (OTCQB: CARO) is the parent-holding company of CresCom Bank, and also owns and operates Atlanta-based Crescent Mortgage Company. Currently, the mortgage company lends in 43 states, partners with 2,000 community banks, credit unions and mortgage brokers, and offers access to various loan programs. In 2013, it ranked #9 on ABA Banking Journal’s national list of top performing non-S banks and thrifts with total assets of $100 million to $1 billion. To learn more about CresCom Bank, visit and or call 1-855-CRESCOM.


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