THE WALL STREET CLUB

[mick]

Oct 26, 2009 13:00 Carolina Bank Holdings, Inc. Reports Deposit Growth of 19.4% During the First Nine Months of 2009
Carolina Bank Holdings, Inc. (Nasdaq:CLBH) today reported deposit growth of $96.8 million, or 19.4%, for the first nine months of 2009 and 27.9% for the year ended September 30, 2009 to $594.9 million. The additional deposits have funded loan growth of $35.2 million and allowed for a reduction of $53.8 million in wholesale funding from the Federal Home Loan Bank and from Federal funds purchased during the first nine months of 2009. Robert T. Braswell, President and CEO, commented, "Our increased focus on deposit gathering is paying off in sharply higher core deposits which have increased shareholder value. We are especially pleased to report that all deposit growth in 2009 was in transactional accounts which generally produce a lower cost. Customers in our expanded footprint in the Triad of North Carolina are pleased to have same day credit for deposits, free ATM transactions, convenient locations, competitive pricing and exceptional service and are showing their enthusiasm by opening new accounts and increasing balances." continued...