CoastalSouth Bancshares, Inc.
Business
CoastalSouth Bancshares, Inc. is a bank holding company that operates Coastal States Bank, a South Carolina state-chartered commercial bank providing retail and commercial banking services. The company offers loan products including acquisition & development, commercial real estate, owner-occupied real estate, senior housing, commercial & industrial, and residential mortgages, along with deposit products and treasury management services. CoastalSouth operates 11 retail branches across the Lowcountry of South Carolina, Savannah Georgia, and metro Atlanta, and maintains four specialty lending lines including senior housing, marine lending, government guaranteed lending, and mortgage banker finance.
Summary from 10-K filed 2026-07-01
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 |
|---|---|---|---|
| Loans held for investment | 95 | 93 | |
| Loans held for sale | 13 | 10 | |
| Taxable | 15 | 15 | |
| Non-taxable | 428,000 | 395,000 | |
| Non-marketable equity securities | 448,000 | 434,000 | |
| Federal funds sold | 3 | 4 | |
| Other earning assets from banks | 484,000 | 534,000 | |
| Total income | 128 | 124 | |
| Interest-bearing deposits | 52 | 53 | |
| Other borrowings | 2 | 5 | |
| Total expenses | 54 | 58 | |
| Net interest income | 74 | 65 | |
| Provision for credit losses | 3 | 553,000 | |
| Net interest income after provision for credit losses | 71 | 65 | |
| Bank-owned life insurance | 2 | 2 | |
| Income from mortgage originations | 1 | 1 | |
| Gain on sale of government guaranteed loans | 2 | 2 | |
| Noninterest income | 2 | 2 | |
| Losses on sale of available-for-sale securities | −10,000 | −3 | |
| Other noninterest income | 2 | 2 | |
| Total noninterest income | 8 | 5 | |
| Salaries and employee benefits | 28 | 26 | |
| Occupancy and equipment | 3 | 3 | |
| Other professional fees | 3 | 2 | |
| Software and other technology expense | 3 | 3 | |
| Data processing | 3 | 2 | |
| Regulatory assessment | 1 | 1 | |
| Other noninterest expense | 6 | 5 | |
| Total noninterest expense | 48 | 42 | |
| Income before taxes | 31 | 27 | |
| Income tax provision | 6 | 5 | |
| Net income | 25 | 22 | |
| Basic | 2.24 | 2.15 | |
| Diluted | 2.16 | 2.09 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Cash and due from banks | 11 | 8 | — | |
| Interest-bearing accounts with other banks | 30 | 29 | — | |
| Federal funds sold | 38 | 31 | — | |
| Total cash and cash equivalents | 80 | 68 | — | |
| Securities available-for-sale, at fair value | 331 | 335 | — | |
| Non-marketable equity securities | 9 | 7 | — | |
| Total investments | 339 | 343 | — | |
| Loans held for sale | 171 | 174 | — | |
| Loans held for investment | 1,617 | 1,409 | — | |
| Allowance for credit losses on loans | −19 | −17 | — | |
| Loans held for investment, net | 1,599 | 1,392 | — | |
| Bank-owned life insurance | 48 | 47 | — | |
| Premises, furniture and equipment, net | 18 | 18 | — | |
| Deferred tax asset | 16 | 18 | — | |
| Goodwill | 5 | 5 | 5 | |
| Intangible assets | 2 | 2 | — | |
| Other assets | 29 | 33 | — | |
| Total assets | 2,307 | 2,099 | — | |
| Non-interest bearing transaction accounts | 312 | 303 | — | |
| Interest-bearing transaction accounts | 215 | 181 | — | |
| Savings and money market | 674 | 592 | — | |
| Time deposits | 787 | 759 | — | |
| Total deposits | 1,988 | 1,835 | — | |
| Other borrowings | 30 | 42 | — | |
| Other liabilities | 29 | 27 | — | |
| Total liabilities | 2,047 | 1,903 | — | |
| Commitments and Contingencies (Note 12) | — | — | — | |
| Preferred stock, $1.00 par value, 10,000,000 shares authorized, no shares issued or outstanding | 0 | 0 | — | |
| Capital surplus | 190 | 159 | — | |
| Retained earnings | 67 | 42 | — | |
| Accumulated other comprehensive loss | −9 | −16 | −20 | |
| Total shareholders' equity | 260 | 195 | 156 | |
| Total liabilities and shareholders' equity | 2,307 | 2,099 | — |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 |
|---|---|---|---|
| Depreciation expense and software amortization | 2 | 1 | |
| Increase in cash value of bank-owned life insurance | −2 | −2 | |
| Stock-based compensation expense | 946,000 | 1 | |
| Amortization of operating lease right-of-use assets | 819,000 | 817,000 | |
| Amortization of debt issuance costs | 275,000 | 53,000 | |
| Writedown on other real estate owned | 99,000 | — | |
| Write down on repossessed assets | 119,000 | — | |
| Net loss on sale of repossessed assets | 17,000 | — | |
| Net gain on sale of other real estate owned | −64,000 | — | |
| Gain on sale of other loans | −41,000 | −217,000 | |
| Income from mortgage operations | −1 | −1 | |
| Discount accretion and premium amortization on securities available-for-sale | −876,000 | −533,000 | |
| Amortization of intangible assets | 536,000 | 503,000 | |
| Deferred income tax (benefit) expense | −211,000 | 2 | |
| Change in SBA contingency reserve | — | −778,000 | |
| Originations of loans held for sale | −6,659 | −5,008 | |
| Proceeds from loans held for sale | 6,693 | 4,967 | |
| (Decrease) increase in other assets | −146,000 | 8 | |
| Decrease (increase) in other liabilities | 2 | −5 | |
| Net cash provided (used) by operating activities | 63 | −13 | |
| Purchase of securities available-for-sale | −50 | −79 | |
| Proceeds from sales of securities available-for-sale | 5 | 39 | |
| Proceeds from paydowns, calls, and maturities on securities available-for-sale | 61 | 62 | |
| Net (purchase) sale of non-marketable equity securities | −1 | 1 | |
| Loan originations and principal collections, net | −238 | −39 | |
| Net purchase of premises, furniture and equipment | −2 | −1 | |
| Proceeds from sales of other real estate owned | 829,000 | — | |
| Net cash used by investing activities | −224 | −17 | |
| Net increase in deposits | 153 | 84 | |
| Net proceeds (repayment) of Federal Home Loan Bank of Atlanta borrowings | 15 | −35 | |
| Net proceeds from issuance of common stock through initial public offering | 32 | — | |
| Proceeds from issuance of common stock under incentive plan | 102,000 | — | |
| Repurchase of common stock | −69,000 | — | |
| Proceeds from private placement capital raise | — | 12 | |
| Repayment of commercial line of credit | −12 | −12 | |
| Repayment of subordinated debt | −15 | — | |
| Net cash provided by financing activities | 173 | 49 | |
| Net increase (decrease) in cash and cash equivalents | 12 | 19 | |
| Interest | 51 | 61 | |
| Income taxes | 2 | −884,000 | |
| Unrealized loss on derivatives, net | −752,000 | −406,000 | |
| Transfers of loans to other real estate owned | — | 864,000 | |
| Transfers from loans held for investment to loans held for sale | 28 | 48 | |
| Right-of-use assets obtained in exchange for new operating lease liabilities | 669,000 | 1 | |
| Lease liabilities arising from obtaining right-of-use assets | 666,000 | 1 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is CoastalSouth Bancshares, Inc.'s CIK number?
CoastalSouth Bancshares, Inc.'s SEC CIK number is 0001297107 (1297107). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find CoastalSouth Bancshares, Inc.'s SEC filings?
All of CoastalSouth Bancshares, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did CoastalSouth Bancshares, Inc. last report earnings?
CoastalSouth Bancshares, Inc. (COSO) most recently filed an earnings 8-K with the SEC on Apr 20, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001297107-26-000006). This is CoastalSouth Bancshares, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is CoastalSouth Bancshares, Inc.'s most recent earnings 8-K?
CoastalSouth Bancshares, Inc.'s latest earnings 8-K (Item 2.02) was filed Apr 20, 2026 under accession 0001297107-26-000006. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View CoastalSouth Bancshares, Inc.'s latest earnings 8-K →
Look up any company's CIK number →