Carolina Trust Bank in Lincolnton, N.C., raised $6.3 million after selling 2.1 million shares of common stock.
The $268.9 million-asset company said it sold stock at $3 a share. It plans to use proceeds to make loans and to open or buy branches, among other things.
"With this additional capital, Carolina Trust Bank … should be able to take advantage of the market opportunities," Johnathan Rhyne Jr., its chairman, said in a press release Tuesday.
The Federal Reserve chair said there are no economic indicators calling for rapid rate cuts. He also addressed Fed independence, the impact of Trump's economic agenda and more.
Rep. Matt Gaetz, R-Fla., whose chances of getting confirmed as attorney general are unclear in the wake of allegations of sex trafficking and a House ethics probe against him, cuts a more populist profile than many expected from a Republican president.
Real-time payments and FedNow were top of mind at The Clearing House's annual conference this week. Here's how banks and payment companies see RTP's potential evolution.
The Treasury's financial crimes arm alerted banks to the dangers of AI-powered fraud, urging close monitoring and swift reporting of any suspicious activity.
Agriculture lenders expect more than a third of their borrowers to lose money this year, a development that could result in credit quality deterioration and impacts on banks' bottom lines.
This year, 22 banks with assets between $3 billion and $10 billion made American Banker's Best Bank to Work For 2024 ranking.
