Carolina Bank to get $16M in federal aid
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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