Carolina Trust Bank Raises $6.3 Million in Offering

Carolina Trust Bank CART announced today that it closed on the sale of approximately 1,788,000 shares of its common stock in a public offering. A community offering of approximately 312,000 shares of its common stock closed on December 30, 2010. The shares in both offerings were sold at $3.00 per share which resulted in gross proceeds of approximately $6.3 million for the bank. McKinnon & Company, Inc., an investment banking firm based in Norfolk, VA, served as the placement agent.