CAROLINA FINANCIAL CORPORATION (NASDAQ:CARO) Files An 8-K Other Events
Item 8.01 Other Events
On June 9, 2017, Carolina Financial Corporation, a Delaware
corporation (the Company), and First South Bancorp, Inc., a
Virginia corporation (First South), issued a joint press release
announcing the execution of an Agreement and Plan of Merger and
Reorganization, dated as of June 9, 2017, by and between the
Company and First South (the Merger Agreement), to which, subject
to the terms and conditions set forth therein, First South will
merge with and into the Company (the Merger), with the Company as
the surviving corporation in the Merger. The Merger Agreement
provides that immediately following the Merger, First Souths
wholly-owned bank subsidiary, First South Bank, a North
Carolina-chartered bank, will merge with and into the Companys
wholly owned bank subsidiary, CresCom Bank, a South
Carolina-chartered bank (the Bank Merger), with CresCom Bank as
the surviving entity in the Bank Merger. A copy of the press
release containing the announcement is attached hereto as Exhibit
99.1 and incorporated by reference herein.
Item 7.01 Regulation FD Disclosure
A conference call will be held at 11:00 a.m., Eastern Time on
June 12, 2017. The conference call can be accessed by dialing
(855) 218-6998 or (615) 247-5963 and requesting the Carolina
Financial Corporation merger call. The conference ID number is
37059206. Listeners should dial in 10 minutes prior to the start
of the call. The live webcast and presentation slides will be
available on www.haveanicebank.com under Investor Relations,
Investor Presentations.
A replay of the webcast will be available on
www.haveanicebank.com under Investor Relations, Investor
Presentations shortly following the call. A replay of the
conference call can be accessed approximately three hours after
the call by dialing (855) 859-2056 or (404) 537-3406 and
requesting conference number 37059206.
A copy of the investor presentation prepared for use by executive
management during the investor conference call is furnished as
Exhibit 99.2.
The information included in the preceding paragraphs, as well as
in Exhibit 99.2 referenced herein, shall not be deemed filed for
purposes of Section 18 of the Exchange Act nor shall it be deemed
incorporated by reference in filings under the Securities Act.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
| Exhibit No. | Description | |
| 99.1 | News Release dated June 12, 2017 | |
| 99.2 | Investor Presentation |
About CAROLINA FINANCIAL CORPORATION (NASDAQ:CARO)
Carolina Financial Corporation is a bank holding company. The Company operates through CresCom Bank, a South Carolina state-chartered bank (the Bank). The Company operates through three segments: community banking, wholesale mortgage banking (mortgage banking) and other. The Company’s community banking segment provides traditional banking services offered through CresCom Bank. The mortgage banking segment provides wholesale mortgage loan origination and servicing offered through Crescent Mortgage Company. The other segment provides managerial and operational support to the other business segments through Carolina Services and Carolina Financial. CresCom Bank provides a range of commercial and retail banking financial services to meet the financial needs of its customers through its branch network in South Carolina and North Carolina. It provides commercial and residential real estate mortgage loans, real estate construction loans, commercial and industrial loans, and consumer loans.
