Carolina Trust Bank elects Ralph N. Strayhorn, III as new director

LINCOLNTON, N.C., Sept. 30, 2016 (GLOBE NEWSWIRE) -- Carolina Trust Bank (NASDAQ:CART) announced today that Ralph N. Strayhorn, III has been elected to its Board of Directors. He is Managing Partner of Cape Point Advisory Partners, LLC, Charlotte, NC.

Carolina Trust Bank elects Ralph N. Strayhorn, III as new director

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/26eaca81-e716-41e3-b87c-9443f2ccdd51

Mr. Strayhorn has spent the last 34 years in the banking and related financial businesses since receiving his JD degree in 1981 from UNC-Chapel Hill and his BA from UNC-Chapel Hill in 1977. During 13 of the last 21 years, he has served as an executive officer of four banks in North Carolina and one in Florida, served on the board of directors of four of these banks and served as President & CEO of three of these banks.

Mr. Strayhorn has both lectured and spoken at various directors’ colleges and CEO forums in North Carolina, South Carolina and Virginia and has addressed the North Carolina Banking Commission on the “Anatomy of a Failure” and the present state of community banking in North Carolina. Effective November 30, 2013, Mr. Strayhorn was appointed by the Honorable Pat McCrory, Governor of North Carolina, to a four year term as a director of the Golden L.E.A.F. Foundation (GLF).

“We are indeed fortunate to attract Ralph Strayhorn to our board. His broad experience in financial services will be invaluable as we work in this ever challenging environment to better serve our customers and reward our investors,” said Johnathan L. Rhyne, Jr., Chairman of Carolina Trust Bank.

“I am delighted to be joining the Carolina Trust Bank board, an institution whose leadership is dedicated to excellence in providing community banking services,” said Strayhorn. Married 37 years to Keiran Margaret Maughan-Brown of Cape Town, South Africa, they have two children and two grandsons.

Carolina Trust Bank is a full-service state chartered bank headquartered in Lincolnton, North Carolina, operating nine full-service branches in Lincoln, Catawba, Gaston and Rutherford Counties in western North Carolina and a loan production office in Mooresville, N.C.

Questions may be directed to President and CEO, Jerry L. Ocheltree, Carolina Trust Bank, 704-735-1104.

Contact: Jerry L. Ocheltree President and CEO Carolina Trust Bank (704) 735-1104

Source:Carolina Trust Bank

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