CoastalSouth Bancshares, Inc. operates as the bank holding company of CoastalStates Bank that provides various banking products and services to retail and commercial customers. The company accepts various deposits, such as checking, savings and money market, certificates of deposit, and individual retirement accounts. Its loan products include residential mortgage, home equity loans, cash value line of credit, commercial and government guaranteed lending, and mortgage banker finance, as well as debit and credit cards. The company also offers customized and private banking, treasury management, and digital and telephone banking services. It operates retail banking branches in Hilton Head Island/Bluffton, South Carolina; Savannah, Georgia; and north metro Atlanta, Georgia. The company was incorporated in 2003 and is headquartered in Hilton Head Island, South Carolina.
CoastalSouth Bancshares, Inc. Reports Earnings for Second Quarter 2026
CoastalSouth Bancshares reported Q2 2026 net income of $7.3 million, or $0.59 per diluted share, an increase from $6.0 million in the prior year quarter. Net interest margin expanded 20 basis points year-over-year to 3.66%, supported by a cost of funds that decreased 30 basis points.
The Board declared a quarterly dividend of $0.05 per share and repurchased 48,491 shares during the quarter at a weighted-average price of $25.48. Loan production reached $181.6 million, driving a $78.1 million increase in loans held for investment.
Asset quality remained strong with nonperforming assets at 0.76% of total assets and net charge-offs at just 0.01%. Total assets grew 5% year-to-date to $2.42 billion.