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Carolina Financial Corp (CARO.OQ)

CARO.OQ on NASDAQ Stock Exchange Capital Market

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14 Dec 2017
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Summary

Name Age Since Current Position

Claudius Watts

55 Independent Chairman of the Board

Jerold Rexroad

56 2012 President, Chief Executive Officer, Director

William Gehman

56 2012 Chief Financial Officer, Executive Vice President

Melton Huggins

54 2012 Executive Vice President, Secretary

David Morrow

66 2004 Executive Vice President, Director

Lindsey Crisp

44 2017 Director

Gary Griffin

62 2017 Director

Frederick Holscher

67 2017 Director

Daniel Isaac

65 Director

Fowler Williams

41 Director

Weldon Brandon

53 2001 Independent Director

Robert Clawson

74 1996 Independent Director

Jeffery Deal

62 1996 Independent Director

Graham Eubank

79 1996 Independent Director

Michael Leddy

73 2013 Independent Director

Robert Moise

68 1996 Independent Director

Thompson Penney

66 2013 Independent Director

Biographies

Name Description

Claudius Watts

Lieutenant General Claudius E. Watts is an Independent Chairman of the Board at the company., He has served as a member of the Company’s Board of Directors since 2015. Mr. Watts. is a Partner and Managing Director of The Carlyle Group where he specializes in control equity investments in larger companies focused on software, software enabled services, semiconductors, and electronic systems. Mr. Watts established the firm’s Technology Buyout Group in 2004 and led it until 2014. Mr. Watts led Carlyle’s investments in and currently serves on the Boards of Directors of CommScope, where he has served as Director since 2011, and Freescale Semiconductor, where he has been a Director since 2006. Previously, Mr. Watts led Carlyle’s investments in and served on the Boards of Directors of technology companies SS&C Technologies, Open Link Financial, Open Solutions, and Jazz Semiconductor, as well as aerospace companies Firth Rixon, Sippican, and CPU Technology. In addition to his current business activities, Mr. Watts also serves as the Chairman of the Board of The Citadel Foundation and The Citadel Trust, which manage the primary endowment funds supporting The Citadel. Prior to joining Carlyle in 2000, Mr. Watts was a Managing Director in the Mergers & Acquisitions group of First Union Securities, Inc. He joined First Union Securities when First Union acquired Bowles Hollowell Conner & Co., where Mr. Watts was a principal. Prior to joining Bowles Hollowell, Mr. Watts was a fighter pilot in the U.S. Air Force. During his service, he was qualified as an instructor pilot in both the F-16 and A-10 aircraft and served in a number of leadership and operations management positions in the United States and abroad. Mr. Watts earned a B.S. in electrical engineering cum laude from The Citadel in Charleston, South Carolina, and an M.B.A. from the Harvard Graduate School of Business Administration.

Jerold Rexroad

Mr. Jerold L. Rexroad is President, Chief Executive Officer, Director of the company., He has served as the Company’s President and Chief Executive Officer since 2012 and as a director since 2012. Mr. Rexroad also serves as Senior Executive Vice President and Chief Administrative Officer of the Bank and Chief Executive Officer and Chairman of the Board of Crescent Mortgage Company. Mr. Rexroad joined the Company in May 2008 as Executive Vice President. Mr. Rexroad began his career in 1982 with Peat, Marwick, Mitchell and Co., a predecessor to the international accounting firm KPMG LLP, and is a Certified Public Accountant with over 20 years of experience in financial institution management. He became a KPMG partner in 1994 with responsibilities for all financial institutions in South Carolina. In 1995, Mr. Rexroad joined Coastal Financial Corporation as Executive Vice President and Chief Financial Officer. Under his oversight, the bank grew organically from $375 million in total assets to over $1.8 billion in total assets. Coastal Financial Corporation was sold to BB&T in 2007. Mr. Rexroad is a member of the American Institute of Certified Public Accountants and the South Carolina Association of Certified Public Accountants. Mr. Rexroad is a graduate of Bob Jones University, cum laude. Mr. Rexroad is a director of the Myrtle Beach Economic Development Corporation. His leadership experience, including over 30 years of experience in public accounting and financial institution management, as well as his service as the chief financial officer of a public bank holding company, enhance his ability to serve on the Company’s Board of Directors. These roles have required industry expertise combined with operational and global management expertise.

William Gehman

Mr. William A. Gehman is Chief Financial Officer, Executive Vice President of the company., since 2012. Prior to being promoted to Chief Financial officer, Mr. Gehman has served as the Company’s Executive Vice President and Chief Financial Officer since 2012. Prior to being promoted to Chief Financial officer, Mr. Gehman was the Company’s Controller from 2008 to 2012. Mr. Gehman is also the Chief Financial Officer of the Bank, Crescent Mortgage Company and Carolina Services Corporation. Mr. Gehman, a Certified Public Accountant with over 12 years of experience in financial institutions, spent over nine years with Peat, Marwick, Mitchell & Co., after which he joined Coastal Financial Corporation in 2002 as Senior Vice President and Corporate Controller, where his responsibilities included public and regulatory reporting. Mr. Gehman is a member of the American Institute of Certified Public Accountants and the South Carolina Association of Certified Public Accountants. Mr. Gehman is a graduate of Liberty Baptist College.

Melton Huggins

Mr. Melton J. Huggins is Executive Vice President, Secretary of the company., Secretary since 2012. Mr. Huggins has served as the Company’s Executive Vice President since 2010 and Secretary since 2012. Mr. Huggins is also a founding board member and former President, Chief Credit Officer and Secretary of Crescent Bank. Prior to joining the Company and assisting in the founding of the Bank, Mr. Huggins served as Area Executive and Senior Vice President of Carolina First Bank, responsible for commercial and retail operations from Georgetown to Myrtle Beach, South Carolina. Prior to his tenure with Carolina First Bank, Mr. Huggins worked for C & S Bank. Mr. Huggins is a board member of the Wall College Board of Visitors at Coastal Carolina University and member of the Community Banker’s Counsel with the South Carolina Banker’s Association. Mr. Huggins is a graduate of Coastal Carolina University and The Graduate School of Banking at Louisiana State University.

David Morrow

Mr. David L. Morrow is Executive Vice President, Director of the company., He has served as an Executive Vice President of the Company since 2004 and has served as a member of the Company’s Board of Directors since 2001. Mr. Morrow is a graduate of Clemson University with a Bachelor of Science degree and has more than 42 years of experience in banking and financial institution management in South Carolina. Prior to founding Crescent Bank, a predecessor to CresCom Bank, he served as President of Carolina First Savings Bank and also as Executive Vice President and member of the Board of Directors of Carolina First Bank. He is currently a member of the Clemson University Board of Visitors, a member of the Board of Directors and 1st Vice Chairman for the S.C. Bankers Association (SCBA) and a member of the Board of Advisors of the Hollings Cancer Center at the Medical University of South Carolina. Most recently, Mr. Morrow was also named to a three-year appointment with the Federal Reserve Community Depository Institutions Advisory Council (CDIAC), as well as the ABA Community Bankers Council. He is also a past Board member of the Storm Eye Institute at the Medical University of South Carolina, a past member of the Board of Directors of Leadership South Carolina and a past member of the Board of Directors for the South Carolina Museum Foundation. His years of experience in financial institution management, including previous service as a director of a state-wide financial institution and CEO of both predecessor banks of CresCom Bank, provide a valuable perspective as a director.

Lindsey Crisp

Gary Griffin

Mr. Gary M. Griffin is Director of the Company. He is a native of Greer, South Carolina, served as a director of Greer Bancshares Incorporated and Greer State Bank (collectively, “Greer”) from 1992 until March 2017 when they were acquired by the Company and the Bank. Under the definitive agreement governing the Company’s acquisition of Greer, the Company agreed to appoint Mr. Griffin as a Class III director and nominate him for re-election at the Meeting. During his tenure as a Greer director, Mr. Griffin served two terms as Chairman of the Board of Directors. He is a graduate of Furman University and has served as Vice-President and part owner of Mutual Home Stores, a group of retail home furnishings stores in the upstate region of South Carolina, where he has over 40 years of work experience in all aspects of the business. Mr. Griffin is a past president of the Greer Lions Club. He has served as a board member and treasurer of Greer Community Ministries, which provides a Meals on Wheels program in the region. He also served as a board member of The Greer Relief and Resources Agency. Mr. Griffin’s qualification to serve on the Company’s Board of Directors is primarily attributed to his previous experience serving as a director of Greer, as well as his successful business experience in the upstate region of South Carolina.

Frederick Holscher

Daniel Isaac

Mr. Daniel H. Isaac is Director of the Company. He has served as a member of the Company’s Board of Directors since 2016 and has served as a member of the Board of Directors of the Company’s wholly-owned subsidiary, CresCom Bank, since 2001. Mr. Isaac is founder and co-owner of A&I Fire and Water Restoration. He holds a Bachelor of Science degree from The Citadel in Charleston, South Carolina. Mr. Isaac has been involved in numerous local and state organizations. He previously served as Chairman of the Myrtle Beach Chamber of Commerce and the South Carolina Department of Transportation. Mr. Isaac’s qualification to serve on the Company’s Board of Directors is attributable primarily to his experience of founding a successful business and his involvement in many leadership positions.

Fowler Williams

Mr. Fowler C. Williams is Director of the Company.He has served as President, as well as a Director of Crescent Mortgage Company since 2011. In 2016, Mr. Williams was promoted to CEO and President of Crescent Mortgage Company. In his 17 years at Crescent Mortgage Company, Mr. Williams has previously worked as National Sales Manager and Executive Vice President over Sales and Operations. Mr. Williams holds the highest designation in the mortgage industry as a Certified Mortgage Banker (CMB). Mr. Williams has served as Chairman of the Mortgage Action Alliance (MAA), the grassroots policy, advocacy, and lobbying network for the real estate finance industry. Mr. Williams also has been named 2015-2016 Chairman of the Community Bank and Credit Union Network (CBCUN) for the Mortgage Bankers Association where he serves on the Independent Mortgage Bankers Executive Counsel and the Regulatory Compliance Committee. Mr. Williams also has been named to the Customer Advisory Board of Freddie Mac, both the QM and TRID regulatory implementation committees for the MBA, and has twice been named to the forty most influential mortgage professionals under 40 by National Mortgage Professional magazine.

Weldon Brandon

Mr. Weldon Scott Brandon is Director of the Company., Since 2001. Mr. Brandon has served as a member of the Company’s Board of Directors since 2001. Mr. Brandon is owner and CEO of The Brandon Agency, South Carolina’s largest independently owned advertising agency. He is also owner of Intellistrand, an internet marketing company that buys, sells and monetizes intuitive domain names on the internet as well as Fuel Interactive, South Carolina’s first and largest interactive-only advertising agency. He is also a co-owner of Merit Associates which operates rental car franchises in Tampa, Florida and Myrtle Beach, SC. He holds a Bachelor of Science degree in Economics from Davidson College and a Juris Doctor degree from the University of South Carolina School of Law. Mr. Brandon is a 2012 recipient of The American Advertising Federation’s Silver Medal Award for his outstanding contributions to advertising and creative excellence. Mr. Brandon currently serves on the Board of Directors for the Myrtle Beach Area Recovery Council and the Myrtle Beach Regional Economic Development Corporation. He is a past member of the Horry-Georgetown Technical College Board of Visitors, past board member of The E. Craig Wall School of Business Administration Board of Visitors, past board member of the American Heart Association (Coastal Chapter), past board member of the Better Business Bureau, past board member of the Salvation Army Horry County as well as the Myrtle Beach Haven. He is a current member of Young Presidents Organization and Chief Executives Organization.

Robert Clawson

Mr. Robert G. Clawson is an Independent Directorof the company., He has served as a member of the Company’s Board of Directors since 1996. Mr. Clawson is a founding member of the law firm of Clawson and Staubes, LLC, and is a member of the South Carolina State Bar, the American Bar Association, the Metropolitan Exchange Club, and The Hibernian Society. Mr. Clawson is admitted to practice law before the South Carolina Supreme Court, the U.S. District Court for the District of South Carolina, the U.S. Court of Appeals for the Fourth Circuit, the U.S. Court of Federal Claims, the U.S. Tax Court, and the U.S. Court of International Trade. Mr. Clawson previously served as President of the South Carolina Municipal Attorneys Association and the College of Charleston Cougar Club. He is a graduate of the University of North Carolina and the University of South Carolina School of Law.

Jeffery Deal

Dr. Jeffery L. Deal, M.D. is an Independent Director of the company., He has served as a member of the Company’s Board of Directors since 1996. Dr. Deal is an anthropologist and physician and serves as Director of Health Studies for Water Missions International, a non-profit non-governmental organization that provides water and sanitation for developing areas. Dr. Deal is a founding partner of Charleston ENT, and previously served as President of the Medical Staff of Bon Secours-St. Francis Hospital, Medical Director of a startup medical facility in South Sudan, and several other related positions. Dr. Deal is a Fellow in the American College of Surgeons, a Fellow in the American Academy of Otolaryngology - Head and Neck Surgery, and a Fellow in the Royal Society of Tropical Medicine. Dr. Deal is a graduate of the Medical University of South Carolina and completed his residency at the National Naval Medical Center in Bethesda, Maryland.

Graham Eubank

Mr. Graham Manly Eubank is Independent Director of the company., He has served as a member of the Company’s Board of Directors since 1996. Mr. Eubank is Chairman of Palmetto Ford, Inc. and has been in the automotive business in Charleston for over 44 years. Mr. Eubank previously served as President of the Charleston Metro Chamber of Commerce and President of the South Carolina Automobile Dealers Association. Mr. Eubank is a graduate of Wofford College.

Michael Leddy

Mr. Michael P. Leddy is an Independent Director of the company., Since 2013. Prior to joining the board of directors, Mr. Leddy has served as a member of the Company’s Board of Directors since 2013. Prior to joining the Board of Directors, Mr. Leddy was the President and Chief Executive Officer of Crescent Mortgage Company from 2008 until 2011. Mr. Leddy has more than 40 years of mortgage banking experience and was a founding team member in the formation of Arvida Mortgage, a subsidiary of Walt Disney Productions. Mr. Leddy was briefly retired from 2011 until he joined the Company’s Board of Directors in 2013. Mr. Leddy served in the U.S. Navy on board the USS Thomas Jefferson. Mr. Leddy holds a Bachelors of Science degree in finance from University of Central Florida and a Juris Doctor degree from Atlanta Law School.

Robert Moise

Mr. Robert M. Moise is an Independent Director of the Carolina Financial Corp., He has served as a member of the Company’s Board of Directors since 1996. Mr. Moïse is a partner in WebsterRogers LLP in the Charleston office. He holds Bachelor of Science and Master of Accountancy degrees from the University of South Carolina and has been admitted to practice before the United States Tax Court. He serves as Treasurer of the Coastal Council BSA, is the Secretary of the Coastal Boys Council Board, and a counselor at Camp Happy Days. He is a member of the American Institute of Certified Public Accountants, serving on their national Tax Practice Responsibilities Committee and is a member of the South Carolina Association of Certified Public Accountants. Mr. Moïse also continues to serve as a member of the Charleston County Business License Appeals Board. In his professional practice, Mr. Mo?se has, after leaving the Internal Revenue Service worked with national and local CPA firms and has concentrated his practice in the tax area with an emphasis on tax controversy matters and complicated mergers, acquisitions and liquidations for many clients around the state. Mr. Moïse brings to the board of his 40 years of financial expertise and his business skills.

Thompson Penney

Mr. Thompson E. Penney is an Independent Director of the company., since 2013. A native of Charleston, Mr. Penney has served as a member of the Company’s Board of Directors since 2013. Mr. Penney is the Chairman of the Board and President/CEO (a position he has held since 1989) of LS3P, a multi-disciplinary firm offering architecture, planning, and interior architecture services to clients throughout the U. S. With more than 250 personnel throughout the six Southeastern offices, he is responsible for overall firm management, organizational vision, successful integration of professional services, marketing, and operations of the firm. Mr. Penney has more than 40 years of experience in the architectural field and under his leadership, LS3P has grown to become a firm consistently recognized by Engineering News and Record as one of the Top 500 Design Firms and Top 50 Architectural Firms in the United States. A graduate of Clemson University with a bachelor’s degree (1972) and master’s degree (1974) in architecture, Penney received the Alumni Distinguished Service Award from Clemson University, was recipient of the AIA South Carolina Medal of Distinction, its highest honor, and was honored with the Award for Ethics and Civic Responsibility from The Free Enterprise Foundation. Mr. Penney generously volunteers his time to his profession and community, having served as National President of The American Institute of Architects (2003); Chairman of the Charleston Metro Chamber of Commerce (2008), and is current Co-Chair of the National AIA-AGC Joint Committee.