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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><U>Form
8-K</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
<B>March 20, 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

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    <TD STYLE="width: 100%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Carolina Bank Holdings, Inc.</TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">(Exact name of registrant as specified in its charter)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

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    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>North Carolina</B></FONT></TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>000-31877</B></FONT></TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>56-2215437</B></FONT></TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">(State or other jurisdiction</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">(Commission File Number)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">(IRS Employer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">of incorporation)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">Identification No.)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

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    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">101 North Spring Street, Greensboro, NC</TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">27401</TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">(Address of principal executive offices)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">(Zip Code)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registrant&rsquo;s telephone number, including
area code: <B>(336) 288-1898</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <TD STYLE="width: 100%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Not Applicable</TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">(Former name or former address, if changed since last report)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:<BR>
&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.25in"><FONT STYLE="font-family: Wingdings">&#168;</FONT>&#9;Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.25in"><FONT STYLE="font-family: Wingdings">&#168;</FONT>&#9;Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.25in"><FONT STYLE="font-family: Wingdings">&#168;</FONT>&#9;Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.25in"><FONT STYLE="font-family: Wingdings">&#168;</FONT>&#9;Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

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<TD STYLE="width: 10%"><B>Item 4.01</B></TD><TD STYLE="width: 2%; text-align: left"><B></B></TD><TD STYLE="text-align: justify; width: 88%"><B>Changes to Registrant&rsquo;s Certifying
Accountant.</B></TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">On March 20, 2012, the Audit Committee
of the Board of Directors of Carolina Bank Holdings, Inc. (the &ldquo;Registrant&rdquo;) approved the dismissal of Cherry Bekaert
&amp; Holland, LLP (&ldquo;Cherry Bekaert&rdquo;) as the Registrant&rsquo;s independent registered public accounting firm. Cherry
Bekaert had been engaged previously as the principal accountant to audit the Registrant&rsquo;s consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Cherry Bekaert&rsquo;s reports on the financial
statements of the Registrant for the fiscal years ended December 31, 2011 and 2010 do not contain an adverse opinion or a disclaimer
of opinion and are not qualified or modified as to uncertainty, audit scope or accounting principles.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">During the Registrant&rsquo;s two most
recently completed fiscal years, there were no disagreements with Cherry Bekaert on any matter of accounting principles or practices,
financial statement disclosure, or auditing scope or procedure.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">The Registrant has provided a copy of this
current report on Form 8-K to Cherry Bekaert and has requested that Cherry Bekaert furnish the Registrant with a letter addressed
to the Commission stating whether it agrees with the Registrant&rsquo;s disclosure contained herein. Cherry Bekaert&rsquo;s letter,
dated March 22, 2012, is filed as Exhibit 16.1 to this report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">On March 20, 2012, the Audit Committee
of the Registrant&rsquo;s Board of Directors approved the appointment of Elliott Davis, PLLC as the Registrant&rsquo;s new independent
registered public accounting firm to perform independent audit services for the fiscal year ending December 31, 2012. During the
fiscal years ended December 31, 2011 and 2010 and through March 20, 2012, neither the Registrant, nor any other party acting on
its behalf, consulted Elliott Davis, PLLC regarding either (i) the application of accounting principles to a specified transaction,
either completed or proposed, or the type of audit opinion that might be rendered with respect to the consolidated financial statements
of the Registrant, and no written report or oral advice was provided to the Company by Elliott Davis, PLLC that was an important
factor considered by the Company in reaching a decision as to any accounting, auditing or financial reporting issue; or (ii) any
matter that was the subject of a disagreement (as that term is defined in Item 304(a)(1)(iv) of Regulation S-K and the related
instructions) or a &ldquo;reportable event&rdquo; (as that term is defined in Item 304(a)(1)(v) of Regulation S-K).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">This Current Report on Form 8-K (including
information included or incorporated by reference herein) may contain, among other things, certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, (i)&nbsp;statements regarding
certain of Registrant&rsquo;s goals and expectations with respect to earnings, income per share, revenue, expenses and the growth
rate in such items, as well as other measures of economic performance, including statements relating to estimates of credit quality
trends, and (ii)&nbsp;statements preceded by, followed by or that include the words &ldquo;may,&rdquo; &ldquo;could,&rdquo; &ldquo;should,&rdquo;
&ldquo;would,&rdquo; &ldquo;believe,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;estimate,&rdquo; &ldquo;expect,&rdquo; &ldquo;intend,&rdquo;
&ldquo;plan,&rdquo; &ldquo;projects,&rdquo; &ldquo;outlook&rdquo; or similar expressions. These statements are based upon the current
belief and expectations of Registrant&rsquo;s management and are subject to significant risks and uncertainties that are subject
to change based on various factors (many of which are beyond Registrant&rsquo;s control).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 10%"><B>Item 9.01</B></TD><TD STYLE="width: 2%; text-align: left"></TD><TD STYLE="text-align: left; width: 88%"><B>Financial Statement and Exhibits.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><I>(d)</I></TD><TD><U>Exhibits</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

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    <TD STYLE="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Exhibit No.</U></B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD>
    <TD STYLE="width: 84%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; font-weight: bold; text-decoration: underline">Description of Exhibit</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; font-weight: bold; text-decoration: underline">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">16.1</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">Letter of Cherry Bekaert &amp; Holland LLP, dated March 22, 2012</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-autospace: none"><B>CAROLINA BANK HOLDINGS, INC.</B>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; width: 50%">&nbsp;</TD>
    <TD STYLE="text-autospace: none; width: 3%">&nbsp;</TD>
    <TD STYLE="text-autospace: none; width: 35%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none; width: 12%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">By:&nbsp;</TD>
    <TD STYLE="text-autospace: none; border-bottom: Black 1pt solid"> /s/ Robert T. Braswell&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">Robert T. Braswell&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">President and Chief Executive Officer&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none">&nbsp;</TD></TR>
</TABLE>


<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">Dated: March 23, 2012&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>EXHIBIT INDEX</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Exhibit No.</U></B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD>
    <TD STYLE="width: 85%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; font-weight: bold; text-decoration: underline">Description of Exhibit</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">10.1</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">Letter of Cherry Bekaert &amp; Holland LLP, dated March 22, 2012</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="margin: 0"></P>

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[{"type": "8-K", "sequence": "1", "filename": "v306920_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 23010}]
{"company-data": {"conformed-name": "CAROLINA BANK HOLDINGS INC", "cik": "0001127160", "assigned-sic": "6022", "irs-number": "562215437", "state-of-incorporation": "NC", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-31877", "film-number": "12710149"}, "business-address": {"street1": "PO BOX 10209", "city": "GREENSBORO", "state": "NC", "zip": "27404-0209", "phone": "3362881898"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Form
8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported):
March 20, 2012
Carolina Bank Holdings, Inc.
(Exact name of registrant as specified in its charter)
North Carolina
000-31877
56-2215437
(State or other jurisdiction
(Commission File Number)
(IRS Employer
of incorporation)
Identification No.)
101 North Spring Street, Greensboro, NC
27401
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including
area code:
(336) 288-1898
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨
Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 4.01
Changes to Registrant's Certifying
Accountant.
On March 20, 2012, the Audit Committee
of the Board of Directors of Carolina Bank Holdings, Inc. (the "Registrant") approved the dismissal of Cherry Bekaert
& Holland, LLP ("Cherry Bekaert") as the Registrant's independent registered public accounting firm. Cherry
Bekaert had been engaged previously as the principal accountant to audit the Registrant's consolidated financial statements.
Cherry Bekaert's reports on the financial
statements of the Registrant for the fiscal years ended December 31, 2011 and 2010 do not contain an adverse opinion or a disclaimer
of opinion and are not qualified or modified as to uncertainty, audit scope or accounting principles.
During the Registrant's two most
recently completed fiscal years, there were no disagreements with Cherry Bekaert on any matter of accounting principles or practices,
financial statement disclosure, or auditing scope or procedure.
The Registrant has provided a copy of this
current report on Form 8-K to Cherry Bekaert and has requested that Cherry Bekaert furnish the Registrant with a letter addressed
to the Commission stating whether it agrees with the Registrant's disclosure contained herein. Cherry Bekaert's letter,
dated March 22, 2012, is filed as Exhibit 16.1 to this report.
On March 20, 2012, the Audit Committee
of the Registrant's Board of Directors approved the appointment of Elliott Davis, PLLC as the Registrant's new independent
registered public accounting firm to perform independent audit services for the fiscal year ending December 31, 2012. During the
fiscal years ended December 31, 2011 and 2010 and through March 20, 2012, neither the Registrant, nor any other party acting on
its behalf, consulted Elliott Davis, PLLC regarding either (i) the application of accounting principles to a specified transaction,
either completed or proposed, or the type of audit opinion that might be rendered with respect to the consolidated financial statements
of the Registrant, and no written report or oral advice was provided to the Company by Elliott Davis, PLLC that was an important
factor considered by the Company in reaching a decision as to any accounting, auditing or financial reporting issue; or (ii) any
matter that was the subject of a disagreement (as that term is defined in Item 304(a)(1)(iv) of Regulation S-K and the related
instructions) or a "reportable event" (as that term is defined in Item 304(a)(1)(v) of Regulation S-K).
This Current Report on Form 8-K (including
information included or incorporated by reference herein) may contain, among other things, certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, (i) statements regarding
certain of Registrant's goals and expectations with respect to earnings, income per share, revenue, expenses and the growth
rate in such items, as well as other measures of economic performance, including statements relating to estimates of credit quality
trends, and (ii) statements preceded by, followed by or that include the words "may," "could," "should,"
"would," "believe," "anticipate," "estimate," "expect," "intend,"
"plan," "projects," "outlook" or similar expressions. These statements are based upon the current
belief and expectations of Registrant's management and are subject to significant risks and uncertainties that are subject
to change based on various factors (many of which are beyond Registrant's control).
Item 9.01
Financial Statement and Exhibits.
(d)
Exhibits
.
Exhibit No.
Description of Exhibit
16.1
Letter of Cherry Bekaert & Holland LLP, dated March 22, 2012
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
CAROLINA BANK HOLDINGS, INC.
By:
/s/ Robert T. Braswell
Robert T. Braswell
President and Chief Executive Officer
Dated: March 23, 2012
EXHIBIT INDEX
Exhibit No.
Description of Exhibit
10.1
Letter of Cherry Bekaert & Holland LLP, dated March 22, 2012