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  6. Carolina Financial Acquires Greer Bancshares

M&A Deal Summary

Carolina Financial Acquires Greer Bancshares

On November 8, 2016, Carolina Financial acquired financial services company Greer Bancshares

Acquisition Highlights
  • This is Carolina Financial’s 2nd transaction in the Financial Services sector.
  • This is Carolina Financial’s 2nd transaction in the United States.
  • This is Carolina Financial’s 2nd transaction in South Carolina.

M&A Deal Summary
Date 2016-11-08
Target Greer Bancshares
Sector Financial Services
Buyer(s) Carolina Financial
Deal Type Add-on Acquisition
Advisor(s) Raymond James - Investment Banking (Financial)
Wyche (Legal)

Target

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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Buyer(S) 1

Buyer

Carolina Financial

Charleston, South Carolina, United States
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 2 of 3
Sector: Financial Services M&A 2 of 3
Type: Add-on Acquisition M&A Deals 2 of 3
State: South Carolina M&A 2 of 2
Country: United States M&A 2 of 3
Year: 2016 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-06 Congaree Bancshares

West Columbia, South Carolina, United States

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.

Buy $16M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-12 First South Bancorp.

Washington, North Carolina, United States

First South Bancorp. is a virginia corporation that serves as the holding company for First South Bank, a North Carolina-chartered commercial bank. The Company was originally incorporated as a Delaware corporation in 1996. In 1999, FSBK changed its state of incorporation from Delaware to Virginia. First South Bank has one significant operating segment, the providing of general commercial banking services to its markets located in the state of North Carolina.

Buy -
Mergr

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