Carolina Financial Corporation and Carolina Trust BancShares, Inc., the parent company of Carolina Trust Bank, has jointly announced the signing of a definitive merger agreement. The transaction team for Nelson Mullins was led by B.T. Atkinson, with support from Ben Barnhill, Brittany McIntosh, and Eva Bateman on corporate, securities, and executive employment matters; Ken Janik on employee benefits; Jay Suhr on real estate; Wendy Parker on environmental; and Maurice Holloway on tax, including a tax opinion that will be filed as an exhibit to a Registration Statement on Form S-4. Neil Grayson, John Jennings, Allie Nagy, and Gary Brown consulted on a variety of securities and bank regulatory issues.

The aggregate deal value is approximately $100 million based on Carolina Financial Corporation’s closing stock price on July 12, 2019. Upon completion of the acquisition, the combined company will have over $4.5 billion in assets, $3.1 billion in loans, and $3.3 billion in deposits. This transaction will further solidify Carolina Financial’s position as one of the largest Carolinas-based community banks.

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