CHARLESTON, S.C., Dec. 03, 2018 (GLOBE NEWSWIRE) -- Carolina Financial Corporation (NASDAQ: CARO) announced today that the Company’s Board of Directors has approved a plan to repurchase up to $25,000,000 in shares of the Company’s common stock, par value $0.01 per share, through open market and privately negotiated transactions over the next three years.

The actual means and timing of any repurchases, target number of shares and prices or range of prices under the Repurchase Plan will be determined by management at its discretion and will depend on a number of factors, including the market price of the Company’s common stock, general market and economic conditions, and applicable legal and regulatory requirements.

About Carolina Financial Corporation

Carolina Financial Corporation (NASDAQ: CARO) is the holding company of CresCom Bank, which also owns and operates Atlanta-based Crescent Mortgage Company. As of September 30, 2018, Carolina Financial Corporation had approximately $3.7 billion in total assets and Crescent Mortgage Company was approved to originate loans in 48 states partnering with community banks, credit unions and mortgage brokers.