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Carolina Bank to get $16M in federal aid

Friday, December 19, 2008

(Updated 3:01 pm)

Staff Reports

GREENSBORO - Carolina Bank Holdings, Inc., the holding company for Carolina Bank, received preliminary approval Friday for $16 million from the United States Department of the Treasury under the TARP Capital Purchase Program.

Final approval of the Treasury is subject to satisfaction of certain conditions.

"Carolina Bank is considered well capitalized, the highest capital rating that a commercial bank can receive from the federal banking regulators. Because of being well capitalized, it was not a requirement nor necessity that we take the opportunity as offered by the United States Treasury," said bank president and CEO Robert Braswell. "However, participating in this program will make the bank an even stronger and more highly capitalized company.

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reality101

December 19, 2008 - 7:56 pm EST

Highly capitalized? Are we Liquid? Federal Money on the back of our children? Hmmmmm? Nice move Carolina Bank.

blndbck

December 19, 2008 - 11:58 pm EST

What does this really mean? Does Carolina Bank want to lend more money???? Hey everybody go there. They now have $16 MILLION more dollars to lend. YEA RIGHT...DUH!!!!!!!!