David L. Morrow, President and Chief Executive Officer of Charleston-based CresCom Bank and Executive Vice President of Carolina Financial Corporation, has joined the Board of Directors of Business Development Corporation (BDC).
Morrow has more than 40 years of financial services experience. He is a founder of Crescent Bank, a predecessor to CresCom Bank, which now has 27 branches across the Carolinas. Morrow has served on the Board of Directors of Carolina Financial, CresCom's $1.5 billion holding company, since 2001.
Prior to that, Morrow was President of the former Carolina First Savings Bank. He also serves on the Federal Reserve's Community Depository Institutions Advisory Council and on the American Bankers Association's Community Bankers Council, which includes one representative from each of the 50 states. In addition, he is a member of the Clemson University Board of Visitors.
BDC is a non-bank commercial lending company specializing in the U.S. Small Business Administration's 7(a) loan guaranty program and the State Small Business Credit Initiative (SSBCI). Created by the South Carolina Legislature in 1958 to help foster economic development and job creation, the BDC's board includes many of the state's leading community and commercial bankers.
"Many years of working with businesses of all sizes in communities large and small has given me an appreciation for the help that BDC provides entrepreneurs looking to not just sustain their operations, but to grow and thrive. I'm happy to have joined the board and am looking forward to doing my part," Morrow said.
"David Morrow has been a respected leader in the community banking arena for decades, and his list of accomplishments as a civic leader is long and distinguished. We're excited to have him join the BDC board. His contributions will no doubt be considerable," said Edwin O. Lesley, President and CEO of BDC.
David L. Morrow