1996
On November 26, Carolina Savings Bank opened in a 30-year-old building in Friendly Shopping Center at 3124 W. Friendly Avenue in Greensboro.

1997
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.

1998
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.”

1999
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.

2000
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.

2001
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.

2002
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.

2003
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.

2004
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.

2005
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.

2006
Our Burlington location expanded to take deposits. The bank surpassed $400 million in assets, ending the year with $411.6 million.

2007
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.

2008
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.

2009
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.

2010
Carolina Bank remains a strong well capitalized community bank.