CHARLESTON, S.C., October 26, 2017 – CresCom Bank is pleased to announce that Carolina Financial Corporation, the holding company of CresCom Bank, has been named one of the Sandler O’Neill Sm-All Stars Class of 2017, a prestige industry award recognizing top performing small-cap banks and thrifts in the country. Close to 400 banks and thrifts throughout the United States were evaluated and only 29 met the strict measures to be selected. Carolina Financial Corporation is the only bank in the state of South Carolina to be awarded this distinction.
Recognized for performance excellence among the nation’s small-cap banks, Carolina Financial Corporation and the rest of the Sm-All Stars Class of 2017 are on the watch list to become the next crop of stellar mid-cap banks.
To earn Sm-All Star status, companies needed to have a market cap below $2.5 billion and were evaluated on multiple variables related to growth, profitability, credit quality, and capital strength. Against industry medians, banks also needed to report an nonperforming asset (NPA) ratio below 1% at 6/30/17, a net charge off (NCO) ratio over the last twelve months of less than 25 bps and a tangible common equity (TCE) ratio of above 7% at 6/30/17.
“We are honored to be named one of Sandler O’Neill’s Sm-All Stars this year,” said David Morrow, president and CEO of CresCom Bank. “We share this distinction with all of our incredible employees that serve communities throughout the Carolinas.”
For additional information about CresCom Bank or to locate a local branch, visit www.haveanicebank.com.
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 34 branch locations throughout the Carolinas and also owns Crescent Mortgage Company. 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, 2017, Carolina Financial had approximately $2.2 billion in total assets. Crescent Mortgage Company originates loans in 48 states partnering with community banks, credit unions and mortgage brokers.
To learn more about CresCom Bank, visit www.haveanicebank.com or call 1-855-CRESCOM. Stay current on bank news and happenings on social media: