Carolina Financial Corp. has signed a definitive merger agreement to acquire Greer Bancshares Inc. When the transaction is complete, Greer State Bank, a subsidiary of Greer Bancshares, will be merged with Carolina Financial subsidiary CresCom Bank.
"The Upstate South Carolina market continues to be a growing and dynamic market, and we are excited to expand our current franchise further into the Upstate,” Carolina Financial Corp. CEO Jerry Rexroad said. “We look forward to being able to provide new products and services to our new customers in the Upstate while continuing the same great service Greer State Bank customers have come to love and appreciate from their local bankers."
On Sept. 30, a Greer Bancshares report totaled its assets at $381 million.
“We are excited about partnering with Carolina Financial Corporation and CresCom Bank,” Greer Bancshares Incorporated President and CEO Rick Medlock said. “Our companies share very similar philosophies, cultures and core values. We believe that the strength and resources provided by Carolina Financial Corp. will enable us to expand the products and services available to our customers.”
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