D. Boral Arc Acquisition I Corp. Cl A (BCAR)

Bank of the Carolinas Corp was formed in 2006 to serve as a holding company for Bank of the Carolinas (the Bank). The Company's main business activity consists of directing the activities of the Bank. The Company provides a variety of financial services to individuals and small businesses through its retail offices. Its operations are mainly retail oriented and directed toward individuals and small- and medium-sized businesses located in its banking market. The majority of its deposits and loans are derived from customers in its banking market, but it also makes loans and has deposit relationships in areas surrounding its immediate banking market. It also occasionally solicits and accepts wholesale deposits. It offers a variety of commercial and consumer banking services. The Bank's main source of revenue is interest and fee income from its lending activities. These lending activities consist mainly of originating commercial operating and working capital loans, residential mortgage loans, home equity lines of credit, other consumer loans and loans secured by commercial real estate. The Bank attracts both short-term and long-term deposits from the general public by offering a variety of accounts and rates. The Bank offers statement savings accounts, negotiable order of withdrawal accounts, money market demand accounts, non-interest-bearing accounts and fixed interest rate certificates with varying maturities. The Bank also utilizes alternative sources of funds such as brokered certificates of deposit and borrowings from the Federal Home Loan Bank of Atlanta, Georgia and other commercial banks. The Bank's main market area is in the Piedmont region of North Carolina where it is engaged in general commercial banking mainly in Davie, Randolph, Rowan, Cabarrus, Davidson, Forsyth and Stokes Counties. It competes with approximately 30 commercial banks and institutions with offices in its banking market. The Bank is subject to supervision and examination by, and the regulations and reporting requirements of, the Federal Reserve Board.