COASTAL CAROLINA BANC - CCNB STOCK NEWS

Coastal Carolina Bancshares, Inc. (OTCQX:CCNB) reported net income of $2,235,070 or $0.36 per share for Q3 2024, up from $1,956,948 or $0.31 per share in Q2 2024. Key highlights include:

- 14% increase in quarterly net income over the linked quarter
- Loan growth of $23 million (3%) to $816 million
- Asset growth of $32 million (3%) to $1.1 billion
- Deposit growth of $27 million (3%) to $999 million
- Book value per share increased to $11.87 from $10.67 at year-end 2023
- Exceptional credit quality with 0.0% non-performing assets ratio

The bank's net interest margin improved to 3.22%, driven by increased yields on earning assets. Noninterest income rose to $655,000, while noninterest expense increased to $5.7 million. The bank maintains strong capital ratios and continues to focus on deposit acquisition and retention.

Coastal Carolina Bancshares (OTCQX:CCNB) reported Q2 2024 net income of $1.96 million, or $0.31 per share, compared to $1.98 million in Q2 2023. The company achieved a significant milestone by surpassing $1 billion in total assets for the first time. Key highlights include:

- 10% quarterly asset growth to $1.07 billion
- 11% quarterly deposit growth to $971 million
- 1% quarterly loan growth to $793 million
- Improved net interest margin of 3.19%, up from 3.08% in Q1 2024
- Continued strong credit quality with 0.0% non-performing assets ratio

The bank's expansion efforts include opening a new branch in Orangeburg, SC, marking its ninth full-service office.

Coastal Carolina Bancshares, Inc. reported strong first-quarter earnings with net income of $1.7 million and diluted EPS of $0.26 per share. The company saw growth in total assets, deposits, and loans, with key credit quality metrics remaining strong. Despite challenges in the cost of funds, the company remains optimistic about future growth.

Coastal Carolina Bancshares, Inc. reported a 13% increase in net income for the year ended December 31, 2023, compared to the same period in 2022. The company's diluted EPS for the quarter was $0.32 and $1.31 for the year. Additionally, the company experienced annual deposit growth of 12% and annual loan growth of 18% from 2022 to 2023. The company's credit quality metrics remained strong with a non-performing assets ratio of 0.0% and no past due loans for five consecutive quarters.

Coastal Carolina Bancshares, Inc. reports unaudited financial results for Q3 2023, with net income of $6.1 million, a 26% increase from the same period last year. Deposit and loan growth also increased.

Coastal Carolina Bancshares, Inc. (OTCQX:CCNB) reported a net income of $2,120,777 or $0.34 per share for Q1 2023, reflecting a 55% increase from Q1 2022. Compared to the previous quarter, earnings declined from $2,342,030 or $0.38 per share. Highlights include 3% deposit growth to $767 million and 6% loan growth to $685 million. The bank maintains strong credit quality metrics with a 0.0% non-performing assets ratio. The bank’s total assets increased by 5% to $868 million. The net interest margin for the quarter was 3.61% with net interest income at $7.0 million, up 32% year-over-year but down linked quarter. The company continues strong capital ratios.

Coastal Carolina Bancshares reported strong financial results for FY 2022, achieving a net income of $7.21 million, or $1.16 per share, a 16% increase from 2021. The Q4 net income rose 41% year-over-year to $2.34 million, with EPS of $0.38. Total assets grew to $825 million, primarily driven by a 40% increase in net loans to $649 million. Deposits rose 8% to $742 million. The non-performing assets ratio remained at 0.0%, indicating robust credit quality. However, noninterest income decreased significantly from $5 million in 2021 to $2.24 million in 2022 due to declining mortgage revenues amidst rising interest rates.

Coastal Carolina Bancshares reported a 22% year-over-year increase in net income for Q3 2022, amounting to $2.01 million or $0.32 per share. Year-to-date net income reached $4.87 million, a 6% growth from the previous year. Total loans grew by 29% to $596 million, while total deposits increased by 5% to $721 million. The bank maintained strong credit quality with a non-performing assets ratio of just 0.05%. Key ratios include a return on average assets of 1.00% and a net interest margin of 3.91%. Despite rising interest rates impacting investment valuations, the bank's core operations remain robust.