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CoastalSouth Bancshares, Inc. (OTCQX: COSO), established in 2003 and headquartered in Hilton Head Island, South Carolina, is a thriving financial holding company. CoastalSouth is the parent company of Coastal States Bank (CSB), a community-focused financial institution known for providing a wide range of banking services tailored to businesses, their owners, and individuals seeking a reliable local banking partner.
Boasting approximately $2 billion in total assets as of December 31, 2023, CoastalSouth demonstrates a robust financial foundation. The bank operates within the Lowcountry of South Carolina, including Hilton Head Island and Bluffton, as well as in Savannah, Georgia, and Atlanta, Georgia. Beyond its local presence, CSB extends its reach nationwide through specialized lines of business, including Government Guaranteed Lending, Senior Housing, Mortgage Banker Finance, and Marine Lending.
In January 2024, CoastalSouth successfully completed a private placement of common stock, resulting in gross proceeds of approximately $12 million. The company intends to utilize these funds for general corporate purposes and to maintain strong regulatory capital ratios at the bank level. This financial maneuver underscores CoastalSouth's commitment to sustained growth and stability.
CSB prides itself on exceptional performance, highlighted by significant growth and profitability throughout 2023. According to Stephen Stone, President and CEO of CoastalSouth and CSB, the company's achievements are a testament to their strong shareholder base and promising future prospects. Legal counsel for the transaction was provided by Alston & Bird LLP.
For more detailed information about Coastal States Bank and its services, visit www.coastalstatesbank.com.
Coastal States Bank (CSB) announced the appointment of Gavin Shook as Senior Vice President, Commercial Banker for its Atlanta Region.
With over 20 years of experience in commercial banking and extensive knowledge of the Atlanta market, Gavin will focus on acquiring and expanding commercial client relationships.
Gavin is an alumnus of Georgia Southern University and the Georgia Banking School at the University of Georgia.
CSB's Atlanta Regional President, Gary Dowell, welcomed Gavin, highlighting his alignment with CSB's commitment to relationship banking.
Coastal States Bank (CSB) announces the appointment of Makisha Gann as Vice President and Community Banker in the Atlanta region. With over 20 years in retail banking, Gann is expected to enhance customer service and community relationships. CSB's President, Gary Dowell, expressed excitement about her joining the team, highlighting her experience and commitment to clients. CSB operates in various locations, including Hilton Head Island, Bluffton, Savannah, and Atlanta, with total assets amounting to approximately $1.9 billion. CSB is a subsidiary of CoastalSouth Bancshares, Inc. (OTCQX: COSO).
CoastalSouth Bancshares (OTC-PINK:COSO) announced the completion of a private placement of common stock, raising approximately
Coastal States Bank (CSB) announced the appointment of Cory Burdette as the Senior Vice President for its new Financial Institutions Group on November 1, 2022. Burdette brings over 15 years of banking experience, previously serving at Atlantic Capital Bank and BBVA Compass. CSB aims to leverage his expertise to enhance relationships with other financial institutions in the Southeast. As of September 30, 2022, CSB reported total assets of approximately $1.72 billion.
CoastalSouth Bancshares announced the successful acquisition of Cornerstone Bancshares, enhancing its presence in the Atlanta market. With Cornerstone's deposits around $201.5 million as of June 30, 2021, this transaction elevates CoastalSouth to the 25th largest bank by deposit market share in the Atlanta MSA, totaling over $550 million. CoastalSouth emphasizes commitment to local communities and exceptional customer experience during the integration process. As of October 1, 2021, CoastalSouth had approximately $1.6 billion in total assets.
Coastal States Bank (CSB) has appointed Nicole Klein as Senior Vice President and Private Banker for the Atlanta Region, effective September 9, 2021. With over 30 years of banking expertise, Klein will focus on private banking for individuals and businesses. Gary Dowell, Atlanta Regional President, expressed enthusiasm for Klein's community commitment and professional experience. As of April 1, 2021, CSB reported approximately $1.2 billion in total assets, serving various locations including South Carolina, Savannah, and Atlanta.
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