Carolina Alliance Bank : 01.09.18 Carolina Alliance adds David Swofford

FOR IMMEDIATE RELEASE

January 9, 2018

Contact: David Barnett

[phone]

Carolina Alliance adds David Swofford as Vice President & Mortgage Lender

SPARTANBURG (Jan. 9, 2018) - Carolina Alliance Bank (OTCQX: CABF) today announced that David Swofford has joined its Spartanburg office as Vice President, Mortgage Lender, effective immediately.

Swofford has more than 13 years of experience in banking, primarily in the Spartanburg County/Upstate market. He has extensive knowledge in mortgage banking and during his career has focused on new customer acquisition and client retention while providing clients with excellent customer service and product solutions.

"I am delighted to announce that David has joined Carolina Alliance," said David Barnett, President, Carolina Alliance Bank Western Region. "David brings an intimate knowledge of the Spartanburg/Upstate market, a wealth of experience, and a proven track record of personal success."

A graduate of the University of South Carolina with a degree in finance and business management, Swofford is involved in the community, having served as a

Board Member of the Boys and Girls Club of the Upstate since 2013; Board Member of Spartanburg Young Professionals and as a Volunteer Council Member for the United Way of the Piedmont. He also is an active member of his church, First Presbyterian of Spartanburg, where he serves on the Finance Committee.

Swofford can be contacted [e-mail] or [phone].

Carolina Alliance Bank is a community bank with seven locations in Upstate South Carolina Western North Carolina and Charlotte. Its primary emphasis is on consumer, private/professional and small to mid-sized business banking.

For additional information about Carolina Alliance please visit

www.CarolinaAllianceBank.com.

Note: One picture is included with this release.