Carolina Allnc Bk SC (CRLN) 9.8000 $CRLN
Carolina Alliance Reports its Second Quarter 2016 Results
GlobeNewswire - Fri Aug 05, 7:00AM CDT
Carolina Alliance Bank (OTCQX:CRLN) today reported its second quarter 2016 financial results. Net income available to common shareholders of $1.9 million, or $0.29 per diluted common share, was reported for the six months ended June 30, 2016, compared to net income available to common shareholders of $0.8 million, or $0.16 per diluted common share, for the six months ended June 30, 2015. This $1.1 million increase in earnings was largely attributable to increased core earnings due to the increase in earning assets and non-interest income from the merger with PBSC Financial Corporation and Pinnacle Bank of South Carolina ("Pinnacle"
which closed in October 2015. Also contributing to this increase in net income was a decrease in the provision for loan and lease losses in 2016 compared to 2015.
Carolina Alliance Reports its First Quarter 2016 Results
GlobeNewswire - Fri May 06, 7:00AM CDT
Carolina Alliance Bank (OTCQX:CRLN) today reported its first quarter 2016 financial results. For the quarter ended March 31, 2016, net income available to common shareholders was $919,743, or $0.14 per diluted common share, compared to net income available to common shareholders of $508,055, or $0.11 per diluted common share, for the quarter ended March 31, 2015. This $411,688 increase in earnings was largely attributable to increased core earnings due to the increase in earning assets and non-interest income from the merger with PBSC Financial Corporation and Pinnacle Bank of South Carolina ("Pinnacle" which closed in October 2015, and to a lesser extent to a decrease in the provision for loan and lease losses.
Carolina Alliance Reports its 2015 Annual and Fourth Quarter Results
GlobeNewswire - Wed Mar 23, 3:05PM CDT
Carolina Alliance Bank (OTCQX:CRLN) today reported its 2015 annual and fourth quarter financial results. For the year ended December 31, 2015, net income available to common shareholders of $1.8 million, or $0.37 per diluted common share, was reported compared to net income available to common shareholders of $6.1 million, or $1.48 per diluted common share, for the year ended December 31, 2014. This $4.3 million decrease in earnings was largely attributable to the non-recurring, non-operating net bargain purchase gain of $3.8 million recognized in 2014 related to the merger with Forest Commercial Bank ("Forest Commercial" which closed in April 2014 and an increase in non-recurring, merger-related expenses associated with the merger with PBSC Financial Corporation and Pinnacle Bank of South Carolina ("Pinnacle" which closed in October 2015. Partially offsetting this decrease in earnings were increased core earnings from the addition of earning assets from the 2014 merger with Forest Commercial and the 2015 merger with Pinnacle.
Carolina Alliance Announces 5% Stock Dividend
GlobeNewswire - Tue Jan 12, 7:00AM CST
Carolina Alliance Bank (OTCQX:CRLN) today announced that its Board of Directors has declared a 5% stock dividend. The stock dividend will be payable February 10, 2016 to shareholders of record as of January 26, 2016. Holders of Carolina Alliance common stock as of the record date will receive one additional share for every twenty shares held on the record date. Cash will be issued in lieu of fractional shares.
Carolina Alliance Reports Its Third Quarter Results
GlobeNewswire - Mon Nov 09, 7:00AM CST
Carolina Alliance Bank (OTCQX:CRLN) today reported to its shareholders its third quarter 2015 financial results. Net income available to common shareholders of $1.2 million, or $0.25 per diluted common share, was reported for the nine months ended September 30, 2015, compared to net income available to common shareholders of $5.6 million, or $1.43 per diluted common share, for the nine months ended September 30, 2014. This $4.4 million decrease in earnings was largely attributable to the non-recurring, non-operating net bargain purchase gain of $4.4 million recognized in 2014 related to the merger with Forest Commercial Bank ("Forest Commercial" in April 2014. Partially offsetting this decrease in earnings were increased core earnings from the addition of earning assets from the merger with Forest Commercial. The results reported as of September 30, 2015 do not reflect the previously announced merger with PBSC Financial Corporation and Pinnacle Bank of South Carolina ("Pinnacle", which occurred on October 3, 2015.
Carolina Alliance Bank and Pinnacle Bank Announce Completion of Merger
GlobeNewswire - Mon Oct 05, 7:00AM 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 the previously announced merger of the two banks was completed on October 3, 2015 after receiving all shareholder and regulatory approvals. Today the Pinnacle Bank offices in Greenville, Powdersville and Easley opened as offices of CAB.
Carolina Alliance Reports Its Second Quarter Results
GlobeNewswire - Mon Aug 03, 7:00AM CDT
Carolina Alliance Bank (OTCQX:CRLN) today reported to its shareholders its second quarter 2015 financial results. Net income available to common shareholders of $0.8 million, or $0.18 per diluted common share, was reported for the six months ended June 30, 2015, compared to net income available to common shareholders of $4.8 million, or $1.32 per diluted common share, for the six months ended June 30, 2014. This $4.0 million decrease in earnings was largely attributable to the non-recurring non-operating net bargain purchase gain of $4.4 million recognized in 2014 related to the merger with Forest Commercial Bank. Partially offsetting this decrease were increased core earnings from the increase in earning assets from the merger with Forest Commercial.
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 Second Quarter 2016 Results
GlobeNewswire - Fri Aug 05, 7:00AM CDT
Carolina Alliance Bank (OTCQX:CRLN) today reported its second quarter 2016 financial results. Net income available to common shareholders of $1.9 million, or $0.29 per diluted common share, was reported for the six months ended June 30, 2016, compared to net income available to common shareholders of $0.8 million, or $0.16 per diluted common share, for the six months ended June 30, 2015. This $1.1 million increase in earnings was largely attributable to increased core earnings due to the increase in earning assets and non-interest income from the merger with PBSC Financial Corporation and Pinnacle Bank of South Carolina ("Pinnacle"
which closed in October 2015. Also contributing to this increase in net income was a decrease in the provision for loan and lease losses in 2016 compared to 2015. Carolina Alliance Reports its First Quarter 2016 Results
GlobeNewswire - Fri May 06, 7:00AM CDT
Carolina Alliance Bank (OTCQX:CRLN) today reported its first quarter 2016 financial results. For the quarter ended March 31, 2016, net income available to common shareholders was $919,743, or $0.14 per diluted common share, compared to net income available to common shareholders of $508,055, or $0.11 per diluted common share, for the quarter ended March 31, 2015. This $411,688 increase in earnings was largely attributable to increased core earnings due to the increase in earning assets and non-interest income from the merger with PBSC Financial Corporation and Pinnacle Bank of South Carolina ("Pinnacle"
which closed in October 2015, and to a lesser extent to a decrease in the provision for loan and lease losses. Carolina Alliance Reports its 2015 Annual and Fourth Quarter Results
GlobeNewswire - Wed Mar 23, 3:05PM CDT
Carolina Alliance Bank (OTCQX:CRLN) today reported its 2015 annual and fourth quarter financial results. For the year ended December 31, 2015, net income available to common shareholders of $1.8 million, or $0.37 per diluted common share, was reported compared to net income available to common shareholders of $6.1 million, or $1.48 per diluted common share, for the year ended December 31, 2014. This $4.3 million decrease in earnings was largely attributable to the non-recurring, non-operating net bargain purchase gain of $3.8 million recognized in 2014 related to the merger with Forest Commercial Bank ("Forest Commercial"
which closed in April 2014 and an increase in non-recurring, merger-related expenses associated with the merger with PBSC Financial Corporation and Pinnacle Bank of South Carolina ("Pinnacle" which closed in October 2015. Partially offsetting this decrease in earnings were increased core earnings from the addition of earning assets from the 2014 merger with Forest Commercial and the 2015 merger with Pinnacle. Carolina Alliance Announces 5% Stock Dividend
GlobeNewswire - Tue Jan 12, 7:00AM CST
Carolina Alliance Bank (OTCQX:CRLN) today announced that its Board of Directors has declared a 5% stock dividend. The stock dividend will be payable February 10, 2016 to shareholders of record as of January 26, 2016. Holders of Carolina Alliance common stock as of the record date will receive one additional share for every twenty shares held on the record date. Cash will be issued in lieu of fractional shares.
Carolina Alliance Reports Its Third Quarter Results
GlobeNewswire - Mon Nov 09, 7:00AM CST
Carolina Alliance Bank (OTCQX:CRLN) today reported to its shareholders its third quarter 2015 financial results. Net income available to common shareholders of $1.2 million, or $0.25 per diluted common share, was reported for the nine months ended September 30, 2015, compared to net income available to common shareholders of $5.6 million, or $1.43 per diluted common share, for the nine months ended September 30, 2014. This $4.4 million decrease in earnings was largely attributable to the non-recurring, non-operating net bargain purchase gain of $4.4 million recognized in 2014 related to the merger with Forest Commercial Bank ("Forest Commercial"
in April 2014. Partially offsetting this decrease in earnings were increased core earnings from the addition of earning assets from the merger with Forest Commercial. The results reported as of September 30, 2015 do not reflect the previously announced merger with PBSC Financial Corporation and Pinnacle Bank of South Carolina ("Pinnacle", which occurred on October 3, 2015. Carolina Alliance Bank and Pinnacle Bank Announce Completion of Merger
GlobeNewswire - Mon Oct 05, 7:00AM 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 the previously announced merger of the two banks was completed on October 3, 2015 after receiving all shareholder and regulatory approvals. Today the Pinnacle Bank offices in Greenville, Powdersville and Easley opened as offices of CAB. Carolina Alliance Reports Its Second Quarter Results
GlobeNewswire - Mon Aug 03, 7:00AM CDT
Carolina Alliance Bank (OTCQX:CRLN) today reported to its shareholders its second quarter 2015 financial results. Net income available to common shareholders of $0.8 million, or $0.18 per diluted common share, was reported for the six months ended June 30, 2015, compared to net income available to common shareholders of $4.8 million, or $1.32 per diluted common share, for the six months ended June 30, 2014. This $4.0 million decrease in earnings was largely attributable to the non-recurring non-operating net bargain purchase gain of $4.4 million recognized in 2014 related to the merger with Forest Commercial Bank. Partially offsetting this decrease were increased core earnings from the increase in earning assets from the merger with Forest Commercial.
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. 
