Our History

Carolina Bank began operations in 1996 under the name of Carolina Savings Bank, then, as now, under the leadership of Robert T. Braswell. The only locally owned community bank headquartered in Greensboro, North Carolina, it was founded with a commitment to the old-fashioned way of doing business – earning customers by providing excellent service, every day.

More than a decade later, Carolina Bank’s person-to-person style of banking, symbolized by the handshake, has resulted in the achievement of many milestones, not the least of which was surpassing $400 million in assets in 2006.

Currently, Carolina Bank has more than 150 employees and eight full-service banking locations and one retail mortgage office. Click here for office locations, hours, and phone numbers.

Historical Milestones

On November 26, Carolina Savings Bank opened in a 30-year-old building in Friendly Shopping Center at 3124 W. Friendly Avenue in Greensboro.

Paul Kennedy, Senior Vice President/Commercial Loan Officer, joined the bank in March 1997, just in time for its $315,000 renovation and grand opening on April 18. On October 1, the bank officially became known as Carolina Bank when the charter was changed from a savings bank to a commercial bank.

In February 1998, Sharon Williams joined the bank as Loan Operations Manager. Today, as Deposit Operations Manager, Sharon says she is proud to continue her service with Carolina Bank. “It’s a good place to work. This is like a family.”

As word spread about Carolina Bank’s style of banking, we continued to welcome new customers. Total assets for Carolina Bank increased to $80.7 million.

After months of preparation, Y2K started quietly, without incident. But the year was full of exciting milestones for Carolina Bank, including the grand opening of our new 12,000-square-foot Main Office at 2604 Lawndale Drive on July 14. Virginia Grimes joined the company as Senior Vice President and Branch Manager at the new headquarters.

On December 10, Carolina Bank opened a third branch, the 3,025-square-foot Jefferson Village office, on 1601 Highwoods Boulevard, located near the intersection of New Garden Road and Bryan Boulevard in Greensboro.

Carolina Bank became the first bank headquartered in Greensboro to receive an “Outstanding” performance rating by the FDIC with respect to the Community Reinvestment Act (CRA). In May, we opened an office in Asheboro, marking our first expansion outside Greensboro. The highlight of 2002 was the successful completion of our secondary stock offering, whereby we were listed with the NASDAQ small cap market.

Carolina Bank’s stock prices increased 42.3% from January 3 to December 31, closing at $15.30. We ended 2003 with assets of $227 million.

On March 1, we opened our new branch office in downtown Asheboro at 335 South Fayetteville Street, enabling Carolina Bank to offer more products and service to our fast- growing base of business in Randolph County.

Carolina Bank continued expansion into the surrounding areas with the opening of a loan production office in Burlington in August. In September, having outgrown office space at Lawndale, we moved administrative functions to a new building near Guilford College.

Our Burlington location expanded to take deposits. The bank surpassed $400 million in assets, ending the year with $411.6 million.

On January 2, the High Point office opened in Deep River Center at 4010 Brian Jordan Place (near the Palladium Cinemas just off of Wendover Avenue). On September 28, Carolina Bank opened a full service office at 3214 South Church Street in Burlington, NC.

On September 16, Carolina Bank opened its Headquarters office in Downtown Greensboro. The brand new four-story building serves as home to all administrative functions of the bank, as well as a full service branch and Commercial Loan department.

During a very tough economic year in America, Carolina Bank continued to grow it’s assets by another $80 million, proving to remain a strong, viable bank.

Carolina Bank remains a strong well capitalized community bank.

No matter how much we grow, Carolina Bank will always hold fast to the fundamental belief that person-to-person banking will remain a core business principle.