There is, however, good news. Carolina Alliance remains well positioned to service the banking needs of the Spartanburg business community. Our bank was established to serve needs of businesses in Spartanburg therefore, did not participate in the “housing bubble,” that has eroded the very fabric of our nation’s banking systems.  Thus, as the level of delinquent loans and charge offs at other banks continued to grow, Carolina Alliance maintains high credit quality standards, did not participate in risky housing related loans, and have virtually zero exposure in  these toxic assets. The Bank continues to show limited past dues and even fewer troubled assets.

Because of our values driven credit culture the Bank remains active in pursuing quality business clients.  Despite what the media portrays, Carolina Alliance continues to lend money, increase its deposit base and provide ancillary banking services.

Carolina Alliance is not participating in the government “bailout” money, (otherwise known as ‘TARP’) has elected to increase its FDIC insurance on non-interest bearing business accounts over the $250M threshold, and continues to provide these products and serve the Spartanburg community through these economically difficult times. In short, Carolina Alliance is willing, able and motivated to provide financial services to our community.

As an employee and shareholder of our Bank, I thank you for doing business with Carolina Alliance. If you are currently dealing with another financial institution, our Bank stands ready to provide you with services you need in a prompt and timely manner.  As always, if I may be of assistance, please do not hesitate to contact me at (864) 208-0825 or tcamp@carolinaalliancebank.com.

Sincerely,

J. Timothy Camp
Senior Vice President