CresCom Bank will be the surviving bank following the merger. Contributed photo
The FDIC has approved CresCom Bank's application to merge with Greer State Bank.
CresCom Bank will be the surviving bank following the merger, according to Carolina Financial Corp., the parent company of CresCom Bank.
The merger was to be consummated on March 18.
According to the terms of the merger agreement, the shareholders at Greer State Bank will be mailed an election form with instructions and a deadline in deciding their desired mix of cash and stock, officials said.