Carolina Allnc Bk SC (CRLN) 11.5800 $CRLN
Carolina Alliance Bank, PBSC Financial Corporation, and Pinnacle Bank Announce Shareholder Approval of Merger
GlobeNewswire - Tue Jun 30, 7:00AM CDT
Carolina Alliance Bank (OTCQX:CRLN), PBSC Financial Corporation (PBSC), and PBSC's wholly-owned subsidiary, Pinnacle Bank of South Carolina (Pinnacle) jointly announced today that the previously announced merger, under which PBSC and Pinnacle will merge with and into Carolina Alliance, has been approved by each entity's shareholders. Special meetings of Carolina Alliance shareholders and PBSC shareholders were held on June 29, 2015 and June 25, 2015, respectively. The merger is expected to close in October of 2015, subject to receipt of regulatory approvals.
Carolina Alliance Reports Its First Quarter Results
GlobeNewswire - Wed May 13, 3:00PM CDT
Carolina Alliance Bank (OTCQX:CRLN) today reported to its shareholders its first quarter 2015 financial results. Net income available to common shareholders of $508,000, or $0.11 per diluted common share, was reported for the three months ended March 31, 2015, compared to net income available to common shareholders of $219,000, or $0.08 per diluted common share, for the three months ended March 31, 2014. This $289,000 increase in earnings was largely attributable to the increase in earning assets from the merger with Forest Commercial Bank ("Forest Commercial"
which closed on April 5, 2014.
Carolina Alliance Bank and Pinnacle Bank Announce Merger
GlobeNewswire - Tue Mar 24, 7:45AM CDT
Carolina Alliance Bank ("CAB" (OTCQX:CRLN), PBSC Financial Corporation ("PBSC", and PBSC's wholly-owned subsidiary, Pinnacle Bank of South Carolina ("Pinnacle Bank", jointly announced today that they have signed a definitive merger agreement. The proposed combination will create a full-service community bank serving customers principally in upstate South Carolina and western North Carolina. The combined bank will have eight banking offices located in Spartanburg, Greenville, Easley, Powdersville, Anderson, and Seneca, SC and Asheville and Hendersonville, NC as well as loan and lease production offices in Spartanburg, SC and Charlotte, NC. All of the offices will operate as Carolina Alliance Bank. The bank will be headquartered in Spartanburg, SC, with senior management personnel operating from Spartanburg, Asheville, and Greenville. Based on December 31, 2014 reported results, on a pro forma combined basis, the bank would have approximately $567 million in assets, $461 million in loans, and $461 million in deposits, as well as a very strong capital position of approximately $67 million. The transaction is expected to close in the fourth quarter of 2015, subject to receipt of regulatory approvals and the approval of the shareholders of each institution.
OTC Markets Group Welcomes Carolina Alliance Bank to OTCQX
PR Newswire - Thu Mar 19, 6:00AM CDT
OTC Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected financial marketplaces, today announced Carolina Alliance Bank (Spartanburg SC) (OTCQX: CRLN), a state-chartered commercial bank serving western North Carolina and upstate South Carolina, has qualified to trade on OTCQX®, the best marketplace for established, global and growth companies.
Carolina Alliance Reports Its Fourth Quarter Results
GlobeNewswire - Mon Mar 16, 7:00AM CDT
Carolina Alliance Bank (OTCBB:CRLN) (OTCQB:CRLN) today reported to its shareholders its fourth quarter 2014 financial results. Net income available to common shareholders of $6.1 million, or $1.48 per diluted common share, was reported for the year ended December 31, 2014, compared to net income available to common shareholders of $1.0 million, or $0.37 per diluted common share, for the twelve months ended December 31, 2013. This $5.0 million increase in earnings was largely attributable to the increase in earning assets from the merger with Forest Commercial Bank ("Forest Commercial" and the impact of merger-related accounting, particularly the non-operating after-tax bargain purchase gain of $3.7 million related to mark-to-market adjustments to the Forest Commercial balance sheet as of the merger date of April 5, 2014. Partially offsetting these increases were increased operating expenses from the addition of the Forest Commercial operations and non-operating after-tax expenses of approximately $0.7 million for merger costs and start-up costs associated with the bank's branches in Seneca and Anderson, South Carolina, both of which opened for business in 2014. Net income available to common shareholders of $0.4 million, or $0.09 per diluted common share, was reported for the three months ended December 31, 2014, compared to net income available to common shareholders of $0.3 million, or $0.11 per diluted common share, for the three months ended December 31, 2013. The increase in net income for the quarter was the result of the increase in earning assets from the merger with Forest Commercial, offset by increased operating expenses from the addition of the Forest Commercial operations and merger-related adjustments that decreased the year-to-date bargain purchase gain.
Carolina Alliance Reports Its Third Quarter Results
GlobeNewswire - Wed Dec 03, 7:10AM CST
Carolina Alliance Bank (OTCBB:CRLN) and (OTCQB:CRLN) today reported to its shareholders its third quarter 2014 financial results. Net income available to common shareholders of $5.6 million, or $1.43 per diluted common share, was reported for the nine months ended September 30, 2014, compared to net income available to common shareholders of $0.7 million, or $0.26 per diluted common share, for the nine months ended September 30, 2013. This $4.9 million increase in earnings was largely attributable to the impact of merger-related accounting, particularly the non-operating net bargain purchase gain of $4.3 million related to mark-to-market adjustments to the Forest Commercial Bank ("Forest Commercial" balance sheet as of the merger date of April 5, 2014. Partially offsetting this gain were expenses of approximately $0.6 million, which include merger costs and start-up costs associated with the bank's recently opened branches in Seneca and Anderson, South Carolina.
Carolina Alliance Announces 10% Stock Dividend and Reports its Second Quarter Results
Business Wire - Mon Sep 08, 6:35AM CDT
Carolina Alliance Bank (OTCBB: CRLN and OTCQB: CRLN) today announced that its Board of Directors has declared a 10% stock dividend. The stock dividend will be payable October 7, 2014 to shareholders of record as of September 22, 2014. Holders of Carolina Alliance common stock as of the record date will receive one additional share for every ten shares held on the record date. Cash will be issued in lieu of fractional shares.
Carolina Alliance Bank Acquires the Operations of Dave McBride Leasing
Business Wire - Mon Aug 04, 7:59AM CDT
Carolina Alliance Bank (the "Bank" (OTCBB: CRLN)(OTCQB: CRLN) announced today that it has acquired the commercial leasing operations of Dave McBride Leasing, LLC ("DML". Concurrent with the signing of the purchase agreement, Dave McBride signed an agreement to manage the Bank's South Carolina leasing operations. The acquisition is a significant addition to the Bank's existing commercial leasing line of business, which heretofore has been concentrated geographically in North Carolina.
Carolina Alliance Bank, PBSC Financial Corporation, and Pinnacle Bank Announce Shareholder Approval of Merger
GlobeNewswire - Tue Jun 30, 7:00AM CDT
Carolina Alliance Bank (OTCQX:CRLN), PBSC Financial Corporation (PBSC), and PBSC's wholly-owned subsidiary, Pinnacle Bank of South Carolina (Pinnacle) jointly announced today that the previously announced merger, under which PBSC and Pinnacle will merge with and into Carolina Alliance, has been approved by each entity's shareholders. Special meetings of Carolina Alliance shareholders and PBSC shareholders were held on June 29, 2015 and June 25, 2015, respectively. The merger is expected to close in October of 2015, subject to receipt of regulatory approvals.
Carolina Alliance Reports Its First Quarter Results
GlobeNewswire - Wed May 13, 3:00PM CDT
Carolina Alliance Bank (OTCQX:CRLN) today reported to its shareholders its first quarter 2015 financial results. Net income available to common shareholders of $508,000, or $0.11 per diluted common share, was reported for the three months ended March 31, 2015, compared to net income available to common shareholders of $219,000, or $0.08 per diluted common share, for the three months ended March 31, 2014. This $289,000 increase in earnings was largely attributable to the increase in earning assets from the merger with Forest Commercial Bank ("Forest Commercial"
which closed on April 5, 2014. Carolina Alliance Bank and Pinnacle Bank Announce Merger
GlobeNewswire - Tue Mar 24, 7:45AM CDT
Carolina Alliance Bank ("CAB"
(OTCQX:CRLN), PBSC Financial Corporation ("PBSC", and PBSC's wholly-owned subsidiary, Pinnacle Bank of South Carolina ("Pinnacle Bank", jointly announced today that they have signed a definitive merger agreement. The proposed combination will create a full-service community bank serving customers principally in upstate South Carolina and western North Carolina. The combined bank will have eight banking offices located in Spartanburg, Greenville, Easley, Powdersville, Anderson, and Seneca, SC and Asheville and Hendersonville, NC as well as loan and lease production offices in Spartanburg, SC and Charlotte, NC. All of the offices will operate as Carolina Alliance Bank. The bank will be headquartered in Spartanburg, SC, with senior management personnel operating from Spartanburg, Asheville, and Greenville. Based on December 31, 2014 reported results, on a pro forma combined basis, the bank would have approximately $567 million in assets, $461 million in loans, and $461 million in deposits, as well as a very strong capital position of approximately $67 million. The transaction is expected to close in the fourth quarter of 2015, subject to receipt of regulatory approvals and the approval of the shareholders of each institution. OTC Markets Group Welcomes Carolina Alliance Bank to OTCQX
PR Newswire - Thu Mar 19, 6:00AM CDT
OTC Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected financial marketplaces, today announced Carolina Alliance Bank (Spartanburg SC) (OTCQX: CRLN), a state-chartered commercial bank serving western North Carolina and upstate South Carolina, has qualified to trade on OTCQX®, the best marketplace for established, global and growth companies.
Carolina Alliance Reports Its Fourth Quarter Results
GlobeNewswire - Mon Mar 16, 7:00AM CDT
Carolina Alliance Bank (OTCBB:CRLN) (OTCQB:CRLN) today reported to its shareholders its fourth quarter 2014 financial results. Net income available to common shareholders of $6.1 million, or $1.48 per diluted common share, was reported for the year ended December 31, 2014, compared to net income available to common shareholders of $1.0 million, or $0.37 per diluted common share, for the twelve months ended December 31, 2013. This $5.0 million increase in earnings was largely attributable to the increase in earning assets from the merger with Forest Commercial Bank ("Forest Commercial"
and the impact of merger-related accounting, particularly the non-operating after-tax bargain purchase gain of $3.7 million related to mark-to-market adjustments to the Forest Commercial balance sheet as of the merger date of April 5, 2014. Partially offsetting these increases were increased operating expenses from the addition of the Forest Commercial operations and non-operating after-tax expenses of approximately $0.7 million for merger costs and start-up costs associated with the bank's branches in Seneca and Anderson, South Carolina, both of which opened for business in 2014. Net income available to common shareholders of $0.4 million, or $0.09 per diluted common share, was reported for the three months ended December 31, 2014, compared to net income available to common shareholders of $0.3 million, or $0.11 per diluted common share, for the three months ended December 31, 2013. The increase in net income for the quarter was the result of the increase in earning assets from the merger with Forest Commercial, offset by increased operating expenses from the addition of the Forest Commercial operations and merger-related adjustments that decreased the year-to-date bargain purchase gain. Carolina Alliance Reports Its Third Quarter Results
GlobeNewswire - Wed Dec 03, 7:10AM CST
Carolina Alliance Bank (OTCBB:CRLN) and (OTCQB:CRLN) today reported to its shareholders its third quarter 2014 financial results. Net income available to common shareholders of $5.6 million, or $1.43 per diluted common share, was reported for the nine months ended September 30, 2014, compared to net income available to common shareholders of $0.7 million, or $0.26 per diluted common share, for the nine months ended September 30, 2013. This $4.9 million increase in earnings was largely attributable to the impact of merger-related accounting, particularly the non-operating net bargain purchase gain of $4.3 million related to mark-to-market adjustments to the Forest Commercial Bank ("Forest Commercial"
balance sheet as of the merger date of April 5, 2014. Partially offsetting this gain were expenses of approximately $0.6 million, which include merger costs and start-up costs associated with the bank's recently opened branches in Seneca and Anderson, South Carolina. Carolina Alliance Announces 10% Stock Dividend and Reports its Second Quarter Results
Business Wire - Mon Sep 08, 6:35AM CDT
Carolina Alliance Bank (OTCBB: CRLN and OTCQB: CRLN) today announced that its Board of Directors has declared a 10% stock dividend. The stock dividend will be payable October 7, 2014 to shareholders of record as of September 22, 2014. Holders of Carolina Alliance common stock as of the record date will receive one additional share for every ten shares held on the record date. Cash will be issued in lieu of fractional shares.
Carolina Alliance Bank Acquires the Operations of Dave McBride Leasing
Business Wire - Mon Aug 04, 7:59AM CDT
Carolina Alliance Bank (the "Bank"
(OTCBB: CRLN)(OTCQB: CRLN) announced today that it has acquired the commercial leasing operations of Dave McBride Leasing, LLC ("DML". Concurrent with the signing of the purchase agreement, Dave McBride signed an agreement to manage the Bank's South Carolina leasing operations. The acquisition is a significant addition to the Bank's existing commercial leasing line of business, which heretofore has been concentrated geographically in North Carolina. 
