M&A Deal Summary

Carolina Financial Acquires Congaree Bancshares

On January 6, 2016, Carolina Financial acquired financial services company Congaree Bancshares for 16M USD

Acquisition Highlights
  • This is Carolina Financial’s 1st transaction in the Financial Services sector.
  • This is Carolina Financial’s largest (disclosed) transaction.
  • This is Carolina Financial’s 1st transaction in the United States.
  • This is Carolina Financial’s 1st transaction in South Carolina.

M&A Deal Summary
Date 2016-01-06
Target Congaree Bancshares
Sector Financial Services
Buyer(s) Carolina Financial
Deal Type Add-on Acquisition
Deal Value 16M USD
Advisor(s) Banks Street Partners LLC (Financial)
Smith Moore Leatherwood LLP (Legal)

Target

Congaree Bancshares

West Columbia, South Carolina, United States
website
Congaree Bancshares, Inc. is a provider of banking products and services including commercial, consumer and mortgage loans to individuals, small- to medium-sized businesses, and professionals in the Columbia market.

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Buyer(S) 1

Buyer

Carolina Financial

Charleston, South Carolina, United States

website

Category Company
Founded 1996
Sector Financial Services
Employees735
Revenue 160M USD (2018)
DESCRIPTION

Carolina Financial Corp. is the holding company of CresCom Bank, which also owns and operates Atlanta-based Crescent Mortgage Company. Carolina offers a variety of traditional community banking services to individuals and businesses. Carolina Financial was established in 1996 and is based in Charleston, South Carolina.

DEAL STATS #
Overall 1 of 3
Sector (Financial Services) 1 of 3
Type (Add-on Acquisition) 1 of 3
State (South Carolina) 1 of 2
Country (United States) 1 of 3
Year (2016) 1 of 2
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-08 Greer Bancshares

Greer, South Carolina, United States

Greer Bancshares, Inc. is a one-bank holding company which was formed in July of 2001 and serves as the parent company of Greer State Bank, owning 100% of its common stock. Greer State Bank was chartered in August of 1988 by the State of South Carolina, and the bank opened for business on January 3, 1989. Since its opening, Greer State Bank has grown to over $381 million in assets and serves the Greer community with four offices and two electronic banking channels, including an Internet banking service.

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