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Carolina Financial in Charleston, S.C., has agreed to acquire 13 branches in the Carolinas and additional assets from First Community Bancshares in Bluefield, Va.
August 7 -
Management training programs are slowly returning to smaller banks decades after belt-tightening led to their demise. Rigorous regulatory scrutiny, combined with a need for improved risk management and increased income, are spurring the comeback.
February 3 -
CresCom Bank in Myrtle Beach, S.C., has agreed to buy a branch from First Carolina Bancshares in Waterboro, S.C.
August 28
Carolina Financial in Charleston, S.C., plans to raise $30 million in a public offering of its common stock.
The $1.3 billion-asset company plans to use the proceeds to support potential acquisitions and for organic growth and general corporate purposes, including a capital contribution to CresCom Bank. The sale is expected to close Dec. 14.
Carolina will sell 1.9 million shares at $15.25 per share, it said in a Wednesday news release, including a 295,000-share overallotment option.
The shares are being issued and sold under a shelf registration filed in August.
Raymond James & Associates and Keefe, Bruyette & Woods are lead managers on the offering. Nelson Mullins Riley & Scarborough is legal counsel.
