Carolina Financial in Charleston, S.C., has promoted a veteran banker to become its chief executive.

The $857 million-asset company tapped Jerry Rexroad to succeed John Russ, a company spokeswoman said on Thursday. Rexroad has been chairman and CEO of affiliate Crescent Mortgage.

Carolina Financial also said that Bill Gehman has become its chief financial officer. He succeeded Frank Cole, the spokeswoman said. Gehman, who had been corporate controller, joined the company in 2008.

Rexroad "has done an outstanding job as the leader of our wholesale mortgage company," Claudius Watts, the company's chairman, said in a press release Wednesday. "He has a great deal of experience in the banking and financial industry, and has already hit the ground running and we look forward to building on Carolina Financial Corporation's success."

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