Carolina Alliance Bank Acquires the Operations of Dave McBride Leasing
August 04 2014 - 8:59AM
Business Wire
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.
John S. Poole, Chief Executive Officer of the Bank, stated, “I
have known and had business relationships with Dave for many years.
His care for and skill at taking care of his customers is
admirable, and a great fit philosophically with our community bank
strategy. Also, his customer base is very similar to the Bank’s
commercial and professional banking customers.” John Kimberly, the
Bank’s President, noted, “We are very excited about the opportunity
to greatly enhance our leasing capabilities in South Carolina. This
also adds scale to our leasing operations, allowing for certain
operating efficiencies and possible service and revenue
enhancements in the future.”
The new leasing operation will remain housed at DML’s current
office at 125 Venture Boulevard, Spartanburg, SC 29306.
About Carolina Alliance
Carolina Alliance Bank is a state-chartered bank with its
deposits insured (up to applicable limits) by the FDIC. It began
operations in January 2007 and is headquartered in Spartanburg,
South Carolina. Operating from full-service offices in:
Spartanburg, Seneca, and Anderson, South Carolina; and Asheville
and Hendersonville, North Carolina; and a loan production office in
Charlotte, NC, it is a full-service commercial bank providing
business and personal banking products and services, as well as
wealth management services through its affiliations with Mahon and
Ryan and LPL Financial. The common stock of Carolina Alliance Bank
is traded over the counter on the OTC Bulletin Board (OTCBB: CRLN)
and on OTC Markets Group (OTCQB: CRLN). For further information,
visit www.carolinaalliancebank.com.
Certain statements in this news release contain “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995, such as statements relating to future plans and
expectations, and are thus prospective. Such forward-looking
statements are subject to risks, uncertainties, and other factors,
such as a continued downturn in the economy, competitive pressures
among depository and other financial institutions, the rate of
delinquencies and amounts of charge-offs, the level of allowance
for loan loss, the rates of loan growth, or adverse changes in
asset quality in the Bank’s loan portfolios, and changes in the
U.S. legal and regulatory framework, including the effect of recent
financial reform legislation on the banking industry, any of which
could cause actual results to differ materially from future results
expressed or implied by such forward-looking statements.
Although we believe that the assumptions underlying the
forward-looking statements are reasonable, any of the assumptions
could prove to be inaccurate. Therefore, we can give no assurance
that the results contemplated in the forward-looking statements
will be realized. The inclusion of this forward-looking information
should not be construed as a representation by the Bank or any
person that the future events, plans, or expectations contemplated
by the Bank will be achieved. All subsequent written and oral
forward-looking statements concerning the Bank or any person acting
on its behalf is expressly qualified in its entirety by the
cautionary statements above. The Bank undertakes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events, or otherwise, to
reflect circumstances or events that occur after the date the
forward-looking statements are made.
Carolina Alliance BankJohn S. Poole, 864-542-2615orJohn D.
Kimberly, 828-255-5711