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About Coastal Carolina National Bank (CCNB)
Coastal Carolina National Bank (CCNB), a subsidiary of Coastal Carolina Bancshares, Inc., is a Myrtle Beach-based community bank with a strong regional presence across South Carolina and parts of North Carolina. Established in 2009, CCNB focuses on delivering personalized banking solutions tailored to meet the needs of individuals, small businesses, and medium-sized enterprises. The bank operates within the broader financial services industry, emphasizing a customer-first approach and community engagement to build lasting relationships.
Core Business Model and Revenue Streams
CCNB generates revenue primarily through a diversified portfolio of financial products and services, including personal and business banking, loans, deposits, and treasury management solutions. The bank's offerings include checking and savings accounts, certificates of deposit (CDs), residential and commercial loans, and specialized financial products such as adjustable-rate mortgages (ARMs). Additionally, CCNB provides unlimited, free nationwide ATM transactions and mobile banking services to enhance customer convenience. Its focus on competitive interest rates and fee structures further strengthens its appeal to customers seeking value-driven banking solutions.
Market Position and Regional Significance
CCNB has established itself as a trusted financial institution in South Carolina's 'Grand Strand' region, serving communities in Myrtle Beach, Garden City, North Myrtle Beach, Conway, Aiken, Columbia, Orangeburg, Greenville, Spartanburg, and beyond. The bank's local expertise and deep-rooted connections enable it to address the unique financial needs of its customer base. As the only community bank in its region to receive a 5-star rating from BauerFinancial for seven consecutive quarters, CCNB demonstrates exceptional financial stability and operational excellence.
Competitive Differentiation
In a competitive landscape dominated by national banks and fintech disruptors, CCNB differentiates itself through its 'hometown bank' ethos and commitment to personalized service. The bank's "We Can Do That" spirit reflects its dedication to providing flexible, customer-centric solutions. Furthermore, CCNB's pristine credit quality metrics, including a 0.0% non-performing asset ratio over seven consecutive quarters, underscore its disciplined risk management and lending practices. The bank's strategic focus on deposit growth and asset quality has also driven significant milestones, such as surpassing $1 billion in total assets.
Commitment to Community and Financial Wellness
CCNB's mission extends beyond traditional banking services to include a strong commitment to community development and financial education. The bank actively supports local businesses and organizations, contributing to the economic vitality of the regions it serves. By prioritizing financial wellness and offering tailored solutions, CCNB empowers customers to achieve their financial goals while fostering a sense of trust and partnership.
Future Outlook and Strategic Growth
While avoiding speculative claims, CCNB's recent expansion into new markets, such as Orangeburg, SC, signals its strategic intent to grow its footprint and customer base. By leveraging its experienced management team and community banking model, the bank is well-positioned to navigate industry challenges and capitalize on opportunities within its regional markets. CCNB's continued focus on deposit acquisition, loan growth, and digital banking enhancements will likely remain key drivers of its success.
Conclusion
Coastal Carolina National Bank exemplifies the strengths of a community-focused financial institution, combining personalized service, financial stability, and regional expertise to deliver exceptional value to its customers. With a proven track record of operational excellence and a commitment to community impact, CCNB stands out as a reliable and trusted banking partner in the South Carolina region.
Coastal Carolina Bancshares (OTCQX:CCNB) reported strong financial results for Q4 and full-year 2024. The company achieved net income of $8.5 million ($1.36 per share) for 2024, up 5% from 2023. Q4 2024 net income was $2.7 million ($0.42 per share), representing a 19% increase over Q3 and 34% over Q4 2023.
Key highlights include annual deposit growth of $160 million (19%) to $989 million and loan growth of $74 million (10%) to $837 million. The bank maintained excellent asset quality with a non-performing assets ratio of 0.0%. Total assets grew 16% to $1.1 billion. The bank's net interest margin improved to 3.35% in Q4 2024, while book value per share increased to $12.07.
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. (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.
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