Carolina Trust BancShares, Inc., incorporated on February 29, 2016, is a bank holding company. The Company's subsidiary is Carolina Trust Bank (the Bank). The Bank offers a range of financial services to small-to medium-sized businesses, professionals and individual consumers in its community. The Bank also offers a range of banking services, including checking and savings accounts; commercial, installment, mortgage and personal loans; safe deposit boxes, and other associated services. The Bank offers personal banking and business banking services. Its personal banking services include KASASA Cash Checking, KASASA Cash Back Checking, KASASA Saver, certificates of deposits/individual retirement accounts (CDs/IRAs), mortgages, credit cards, personal checking, overdraft protection, personal savings, loans, debit cards and online banking and bill pay.
The Bank's mortgage loan options include Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans, The United States Department of Agriculture (USDA) rural development loans, conventional loans, jumbo loans and construction loans. It offers a range of loans, such as home improvement loans, automobile loans, vacation loans and home equity loans. The Bank's business banking services include business checking, business loans, cash management, online bill pay, remote deposit, business card services and online banking. It offers a range of business loans, which include real estate loans, commercial loans, and equipment and collateral loans. The Company's loans are originated for customers residing in Lincoln, Gaston, Catawba, Rutherford and Iredell Counties in North Carolina.
Lending Activities
The Company's loan portfolio includes commercial real estate loans, such as residential acquisition, development and construction (ADC), commercial ADC, farmland, multifamily, owner occupied and non-owner occupied; commercial loans, such as commercial and industrial, agriculture and other; residential mortgage loans, such as first lien, closed-end and junior lien, closed-end; home equity lines, and consumer loans. As of September 30, 2016, the Company's total loans amounted to $301.42 million.
Investment Activities
The Company's investment securities are classified as available for sale (AFS). The Company's investment security portfolio includes the United States Government and federal agency, government sponsored enterprises, corporate debt securities and equity securities. As of September 30, 2016, the Company's investment securities portfolio amounted to $26.9 million.
Sources of Funds
The Company's primary funding source is the deposit and consists of non-interest bearing demand deposits, interest bearing demand deposits, savings accounts and time deposits. The Bank offers a range of deposit programs to individuals and to small-to-medium size businesses and other organizations. As of September 30, 2016, the Company had brokered time deposits of $25.7 million. As of September 30, 2016, the Company's total deposits amounted to $323 million. Its borrowed funds consist of advances from the Federal Home Loan Bank of Atlanta (FHLB). As of September 30, 2016, the Company's FHLB advances amounted to $14.1 million.
901 E Main St
The company trades on NASDAQ exchange. The company headquarter is located in North Carolina, NC. The company was established in the 2000.| Ticker | CART |
| Long Name | Carolina Trust BancShares, Inc. |
| Short Name | Carolina Trust BancShares |