Carolina Trust acquisition creates $600M bank in greater Charlotte region

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Lincolnton-based Carolina Trust Bancshares Inc. (NASDAQ: CART) has completed its roughly $21 million acquisition of Clover Community Bankshares Inc. of Clover, South Carolina. Carolina Trust Bancshares, the parent company of Carolina Trust Bank, sealed the deal last week. The two companies announced plans for the merger in June. Carolina Trust paid about $4.3 million in cash and the remainder in stock, says Edwin Laws, chief financial officer. Clover Community shareholders are eligible for either...

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