CresCom Bank is headquartered in Charleston and is the 2nd largest bank in the state of South Carolina. It is also the 242nd largest bank in the nation. It was established in 2001 and as of December of 2019, it had grown to 848 employees at 74 locations. CresCom Bank has an A+ health rating.
CresCom is the new name of our bank which was previously Wachovia, Waccamaw, and Community Bank. It is irritating that the name keeps changing, necessitating the ordering of new checks and changing direct deposit information in numerous places that pay me direct. However, the new management has retained their local staff who are friendly, personable, and caring. The staff have made the many transitions of ownership less painful for the customer. This is a small town bank, and when we walk in to CresCom it's like being at home. They offer the standard services I have experienced in other banks in other parts of the country, including a user-friendly website. This is the only bank in our small town, currently, although there are other choices in the larger town close by. I am glad to have a bank that is conveniently located and where everybody knows your name!
|FDIC Certificate #||57135|
|Return on Assets - YTD||1.61%|
|Return on Equity - YTD||9.92%|
|Annual Interest Income||$177.7MM|
|Assets and Liabilities|
|Assets||Q4 2019vs Q4 2018||$4.71B$3.79B|
|Loans||Q4 2019vs Q4 2018||$3.24B$2.53B|
|Deposits||Q4 2019vs Q4 2018||$3.43B$2.74B|
|Equity Capital||Q4 2019vs Q4 2018||$789.5MM$597.9MM|
|Loan Loss Allowance||Q4 2019vs Q4 2018||$16.5MM$14.5MM|
|Unbacked Noncurrent Loans||Q4 2019vs Q4 2018||$27.2MM$12.3MM|
|Real Estate Owned||Q4 2019vs Q4 2018||$2.3MM$1.5MM|
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