Coastal Carolina Bancshares, Inc. Announces Second Quarter Results
Rhea-AI Summary
Coastal Carolina Bancshares (OTCQX:CCNB) reported second-quarter 2026 net income of $2.94 million, or $0.39 per diluted share, versus $2.52 million, or $0.40, a year earlier and $3.27 million in the prior quarter. Excluding after-tax merger expenses of $0.41 million, net income was $3.35 million, or $0.44 per diluted share, up 33% year-over-year.
For the first half of 2026, net income rose to $6.20 million ($0.82 per diluted share) from $4.89 million ($0.78) in 2025, or $6.62 million ($0.88) excluding merger costs. Total assets grew 14% year-over-year to $1.35 billion, loans reached $988 million, and deposits increased 6% sequentially to $1.21 billion. Bank-level net interest margin was 3.59%. Tangible book value per share increased 14% year-over-year to $14.09. Asset quality remained strong, with no net charge-offs, nonperforming assets at 0.26% of total assets, and an allowance for credit losses on loans of $11.1 million, or 1.12% of total loans. The bank remained well-capitalized, with leverage, Tier 1, and total risk-based capital ratios of 9.38%, 12.99%, and 14.21%, respectively.
Positive
- Net income excl. merger costs +33% YoY to $3.35M in Q2 2026
- First-half 2026 net income +27% YoY to $6.20M; +35% to $6.62M excluding merger costs
- Total assets +14% YoY to $1.35B; deposits +$70M or 6% QoQ to $1.21B
- Loan portfolio +$19M QoQ and +$43M YTD to $988M with diversified growth
- No net charge-offs, allowance for credit losses at $11.1M or 1.12% of total loans
- Well-capitalized with Tier 1 capital ratio 12.99% and total risk-based ratio 14.21%
Negative
- GAAP diluted EPS slipped to $0.39 from $0.40 a year ago and $0.43 in Q1 2026
- Noninterest expense +$0.9M YoY to $7.5M in Q2, including about $0.5M merger-related costs
- Provision for credit losses of $390K in Q2, bringing year-to-date provision to $850K
- Bank-level net interest margin declined to 3.59% from 3.66% in Q1 2026
- Nonperforming assets ratio increased to 0.26% of total assets from 0.02% in Q1 2026
AI-generated analysis. How Rhea-AI works. Not financial advice.
MYRTLE BEACH, SC / ACCESS Newswire / July 28, 2026 / Coastal Carolina Bancshares, Inc. (the "Company") (OTCQX:CCNB), parent of Coastal Carolina National Bank (the "Bank"), reported unaudited financial results for the second quarter of 2026.
The Company reported net income for the three months ended June 30, 2026, of
The Company reported net income of
Second Quarter Financial Highlights
Quarterly net income of
$2.9 million ($3.3 million excluding the after-tax effect of merger expenses), an increase of33% over the second quarter of 2025Net income for the six months ended June 30, 2026 increased
27% (35% excluding merger expenses) when compared to the same period in 2025.Quarterly diluted earnings per share of
$0.39 ($0.44 per share excluding the after-tax effect of merger expenses), compared to$0.40 for the second quarter of 2025Quarterly Return on Average Equity of
10.90% ; Return on Average Equity excluding the after-tax effect of merger expenses of12.44% Bank-level Net Interest Margin of
3.59% for the quarter ended June 30, 2026 compared to3.66% for the prior quarter ended March 31, 2026 and3.59% for the quarter ended June 30, 2025Tangible book value per share increased
14% year-over-year and6% year-to-date to$14.09 Total assets increased
14% compared to June 30, 2025 to$1.351 billion .Quarterly deposit growth of
$70 million or6% (25% annualized) from$1.142 billion at March 31, 2026 to$1.212 billion at June 30, 2026Quarterly loan growth of
$19 million or2% (8% annualized) during the second quarter, and$43 million or5% (9% annualized) year-to-date, to$988 million at June 30, 2026Continued strong credit quality with no net charge-offs during the first six months of the year and no outstanding OREO property at June 30, 2026
President and CEO of the Company and Bank, Laurence S. Bolchoz, Jr. commented, "Our second quarter results demonstrate the strength of our franchise and the momentum we continue to build across our markets. We delivered strong deposit and loan growth, maintained excellent asset quality, and produced solid earnings despite merger-related expenses incurred during the quarter. As we continue to work toward the completion of our recently announced merger transaction with Beacon Community Bank, we remain focused on serving our customers, supporting our communities, and creating value for our shareholders."
Coastal Carolina Bancshares, Inc.
Selected Financial Highlights
(unaudited)
June 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sept 30, 2025 | June 30, 2025 | ||||||||||||
Balance Sheet (In Thousands) | ||||||||||||||||
Total Assets | $ | 1,351,107 | $ | 1,278,045 | $ | 1,279,007 | $ | 1,209,800 | $ | 1,187,475 | ||||||
Investment Securities | 77,903 | 82,869 | 85,921 | 88,226 | 84,969 | |||||||||||
Loans, excluding loans HFS | 987,775 | 968,292 | 944,842 | 911,160 | 879,627 | |||||||||||
Deposits | 1,212,353 | 1,142,317 | 1,147,072 | 1,096,364 | 1,079,874 | |||||||||||
Shareholders' Equity | 109,283 | 106,099 | 103,032 | 85,191 | 80,705 | |||||||||||
Total Shares Outstanding (1) | 7,537,553 | 7,506,222 | 7,503,722 | 6,303,722 | 6,302,722 | |||||||||||
Book Value per Share | $ | 14.50 | $ | 14.13 | $ | 13.73 | $ | 13.51 | $ | 12.80 | ||||||
Tangible Book Value Per Share | $ | 14.09 | $ | 13.72 | $ | 13.32 | $ | 13.02 | $ | 12.31 | ||||||
Selected % Increases | 2nd Qtr 2026 | 1st Qtr 2026 | 4th Qtr 2025 | 3rd Qtr 2025 | 2nd Qtr 2025 | |||||||||||
Total Assets | 6 | % | 0 | % | 6 | % | 2 | % | 7 | % | ||||||
Total Loans | 2 | % | 2 | % | 4 | % | 4 | % | 2 | % | ||||||
Total Deposits | 6 | % | 0 | % | 5 | % | 2 | % | 8 | % | ||||||
Selected Ratios | ||||||||||||||||
Loan Loss Reserve to Total Loans | 1.12 | % | 1.11 | % | 1.08 | % | 1.07 | % | 1.06 | % | ||||||
Non-Performing Assets (excl TDRs) to Total Assets | 0.26 | % | 0.02 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||||
Net Charge-Offs to Avg Total Loans (annualized) | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||||
For the | For the | For the | For the | For the | ||||||||||||
Three Months Ended | Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | ||||||||||||
June 30, 2026 | Mar 31, 2026 | June 30, 2025 | June 30, 2026 | June 30, 2025 | ||||||||||||
Earnings Breakdown (In Thousands) | ||||||||||||||||
Total Interest Income | $ | 17,755 | $ | 16,629 | $ | 15,110 | $ | 34,383 | $ | 29,476 | ||||||
Total Interest Expense | 6,670 | 5,965 | 5,775 | 12,634 | 11,184 | |||||||||||
Net Interest Income | 11,085 | 10,664 | 9,335 | 21,749 | 18,292 | |||||||||||
Total Noninterest Income | 603 | 608 | 602 | 1,212 | 1,213 | |||||||||||
Total Noninterest Expense | 7,507 | 6,606 | 6,256 | 14,114 | 12,505 | |||||||||||
Provision for Loan Losses | 390 | 460 | 480 | 850 | 815 | |||||||||||
Income Before Taxes | 3,791 | 4,206 | 3,201 | 7,997 | 6,185 | |||||||||||
Taxes | 856 | 937 | 685 | 1,793 | 1,292 | |||||||||||
Net Income | $ | 2,935 | $ | 3,269 | $ | 2,516 | $ | 6,204 | $ | 4,893 | ||||||
Adj. for After-Tax Effect of Merger Expenses | 413 | - | - | 413 | - | |||||||||||
Net Income Excl. After-Tax Effect of Merger Exp. (Non-GAAP) | $ | 3,348 | $ | 3,269 | $ | 2,516 | $ | 6,617 | $ | 4,893 | ||||||
Basic Earnings Per Share | $ | 0.39 | $ | 0.44 | $ | 0.40 | $ | 0.83 | $ | 0.78 | ||||||
Diluted Earnings Per Share | $ | 0.39 | $ | 0.43 | $ | 0.40 | $ | 0.82 | $ | 0.78 | ||||||
Basic Earnings Per Share (excluding merger costs) | $ | 0.44 | $ | 0.44 | $ | 0.40 | $ | 0.88 | $ | 0.78 | ||||||
Diluted Earnings Per Share (excluding merger costs) | $ | 0.44 | $ | 0.43 | $ | 0.40 | $ | 0.88 | $ | 0.78 | ||||||
Weighted Average Shares Outstanding - Basic | 7,524,613 | 7,505,611 | 6,278,237 | 7,515,164 | 6,267,629 | |||||||||||
Weighted Average Shares Outstanding - Diluted | 7,622,927 | 7,613,794 | 6,313,473 | 7,524,613 | 6,307,941 | |||||||||||
Selected Ratios | ||||||||||||||||
Return On Average Assets | 0.89 | % | 1.02 | % | 0.88 | % | 0.96 | % | 0.87 | % | ||||||
Return On Average Equity | 10.90 | % | 12.51 | % | 12.63 | % | 11.69 | % | 12.49 | % | ||||||
Efficiency Ratio | 64.17 | % | 58.54 | % | 62.88 | % | 61.41 | % | 64.03 | % | ||||||
Return On Average Assets (excluding merger costs) | 1.02 | % | 1.02 | % | 0.88 | % | 1.02 | % | 0.87 | % | ||||||
Return On Average Equity (excluding merger costs) | 12.44 | % | 12.51 | % | 12.63 | % | 12.47 | % | 12.49 | % | ||||||
Efficiency Ratio (excluding merger costs) | 60.63 | % | 58.54 | % | 62.88 | % | 59.61 | % | 64.03 | % | ||||||
Net Interest Margin *Bank Level* | 3.59 | % | 3.66 | % | 3.59 | % | 3.60 | % | 3.57 | % | ||||||
(1) - Total shares outstanding excludes unvested restricted stock awards
Capital
At June 30, 2026, the Bank remained well-capitalized under regulatory capital requirements with leverage, Tier 1, and Total Risk-Based capital ratios of
The Company reported book value per share and tangible book value per share at June 30, 2026 of
Balance Sheet and Credit Quality
Total assets increased by
The Company experienced considerable deposit growth during the quarter reporting
President and CEO of the Company and Bank, Laurence S. Bolchoz, Jr., commented:
"The Bank delivered exceptional deposit growth during the second quarter, with total deposits increasing
Net loans increased
The Company continues to report strong asset quality metrics. There were no net charge-offs during the quarter, and no outstanding OREO property at June 30, 2026. The Bank's past due loans (30-89 days) totaled
Mr. Bolchoz commented:
"We are pleased with the continued strength of our credit quality metrics. The loan portfolio performed exceptionally well during the quarter, with no net charge-offs and minimal levels of past-due loans. These results reflect our disciplined approach to risk management and the resilience of the markets we serve."
Income Statement
Net Interest Income
Net interest income increased
Net interest income growth during the second quarter of 2026 was driven by continued loan growth and growth in earning assets. While net interest margin declined modestly from the linked quarter, the Company benefited from higher loan yields and strong balance sheet growth. The Company's yield on earning assets increased to
Mr. Bolchoz said:
"We are very pleased with the Bank's earnings for the second quarter of 2026. Net income, excluding the after-tax effect of merger expenses, increased
Noninterest Income
Noninterest income totaled
Noninterest Expense
Noninterest expense totaled
Noninterest expense during the quarter included approximately
Provision for Credit Losses
During the quarter the Bank recorded a provision for credit losses of
Balance Sheet Data - Unaudited
(Dollars in thousands)
June 30, | Mar 31, | Dec 31, | Sep 30, | Jun 30, | ||||||||||||||||
Cash and Equivalents | $ | 253,437 | $ | 194,821 | $ | 216,063 | $ | 177,859 | $ | 190,049 | ||||||||||
Securities | 77,903 | 82,869 | 85,921 | 88,226 | 84,969 | |||||||||||||||
Loans | ||||||||||||||||||||
Loans Held for Sale | - | 528 | 381 | 966 | 1,698 | |||||||||||||||
Loans Held for Investment | 987,775 | 968,292 | 944,842 | 911,160 | 879,627 | |||||||||||||||
Allowance for Credit Losses - Loans | (11,065 | ) | (10,718 | ) | (10,238 | ) | (9,727 | ) | (9,292 | ) | ||||||||||
Net Loans | $ | 976,710 | $ | 958,102 | $ | 934,986 | $ | 902,399 | $ | 872,034 | ||||||||||
Premises & Equipment | 15,509 | 14,976 | 14,763 | 14,522 | 13,649 | |||||||||||||||
OREO | - | - | - | - | - | |||||||||||||||
Goodwill | 2,992 | 2,992 | 2,992 | 2,992 | 2,992 | |||||||||||||||
Core Deposit Intangible | 99 | 106 | 112 | 119 | 127 | |||||||||||||||
Bank Owned Life Insurance | 12,172 | 12,073 | 11,972 | 11,872 | 11,773 | |||||||||||||||
Other Assets | 12,285 | 12,106 | 12,199 | 11,811 | 11,884 | |||||||||||||||
Total Assets | $ | 1,351,107 | $ | 1,278,045 | $ | 1,279,007 | $ | 1,209,800 | $ | 1,187,475 | ||||||||||
Deposits | ||||||||||||||||||||
Noninterest Bearing Deposits | $ | 194,400 | $ | 180,269 | $ | 204,083 | $ | 165,538 | $ | 171,242 | ||||||||||
Interest Checking | 185,332 | 179,422 | 187,892 | 184,463 | 191,145 | |||||||||||||||
Savings | 18,047 | 17,737 | 17,285 | 17,999 | 17,491 | |||||||||||||||
Money Markets | 589,896 | 557,260 | 543,678 | 539,993 | 515,903 | |||||||||||||||
Certificates of Deposit | 224,678 | 207,629 | 194,134 | 188,371 | 184,092 | |||||||||||||||
Total Deposits | $ | 1,212,353 | $ | 1,142,317 | $ | 1,147,072 | $ | 1,096,364 | $ | 1,079,873 | ||||||||||
Subordinated Debentures | 22,000 | 22,000 | 22,000 | 20,000 | 20,000 | |||||||||||||||
Borrowings | - | - | - | - | - | |||||||||||||||
Accrued Expense & Other Liabilities | 7,471 | 7,628 | 6,902 | 8,244 | 6,897 | |||||||||||||||
Total Liabilities | $ | 1,241,824 | $ | 1,171,945 | $ | 1,175,974 | $ | 1,124,609 | $ | 1,106,770 | ||||||||||
Common Stock and Surplus | $ | 62,442 | $ | 62,316 | $ | 62,224 | $ | 48,090 | $ | 48,009 | ||||||||||
Retained Earnings | 51,163 | 48,228 | 44,959 | 41,876 | 38,917 | |||||||||||||||
AOCI | (4,322 | ) | (4,444 | ) | (4,150 | ) | (4,774 | ) | (6,221 | ) | ||||||||||
Total Shareholders' Equity | $ | 109,283 | $ | 106,099 | $ | 103,032 | $ | 85,191 | $ | 80,705 | ||||||||||
Total Liabilities & Shareholders' Equity | $ | 1,351,107 | $ | 1,278,045 | $ | 1,279,007 | $ | 1,209,800 | $ | 1,187,475 | ||||||||||
Income Statement Data - Unaudited
(Dollars in thousands)
Three Months Ended | Year Ended | |||||||||||||||||||||||||||
Jun 30, | Mar 31, | Dec 31, | Sep 30, | Jun 30, | Jun 30, | Jun 30, | ||||||||||||||||||||||
Interest Income | ||||||||||||||||||||||||||||
Loans | $ | 15,219 | $ | 14,411 | $ | 14,194 | $ | 13,803 | $ | 13,241 | $ | 29,630 | $ | 25,789 | ||||||||||||||
Securities | 2,536 | 2,217 | 2,377 | 2,665 | 1,869 | 4,753 | 3,686 | |||||||||||||||||||||
Total Interest Income | $ | 17,755 | $ | 16,629 | $ | 16,571 | $ | 16,468 | $ | 15,110 | $ | 34,384 | $ | 29,476 | ||||||||||||||
Interest Expense | ||||||||||||||||||||||||||||
Deposits | $ | 6,341 | $ | 5,636 | $ | 5,960 | $ | 6,269 | $ | 5,460 | $ | 11,977 | $ | 10,621 | ||||||||||||||
Borrowings | 329 | 329 | 346 | 350 | 316 | 658 | 563 | |||||||||||||||||||||
Total Interest Expense | $ | 6,670 | $ | 5,965 | $ | 6,305 | $ | 6,620 | $ | 5,775 | $ | 12,634 | $ | 11,184 | ||||||||||||||
Net Interest Income | $ | 11,085 | $ | 10,664 | $ | 10,265 | $ | 9,848 | $ | 9,334 | $ | 21,749 | $ | 18,292 | ||||||||||||||
Provision for Credit Losses | $ | 390 | $ | 460 | $ | 485 | $ | 430 | $ | 480 | $ | 850 | $ | 815 | ||||||||||||||
Noninterest Income | ||||||||||||||||||||||||||||
Bank Owned Life Insurance | $ | 99 | $ | 100 | $ | 100 | $ | 99 | $ | 97 | $ | 200 | $ | 196 | ||||||||||||||
ATM, Debit, and Merchant fees | 268 | 226 | 234 | 240 | 230 | 494 | 431 | |||||||||||||||||||||
Service Charge Revenue | 139 | 153 | 158 | 166 | 167 | 292 | 341 | |||||||||||||||||||||
Gain on Sale of Loans | 70 | 75 | 101 | 100 | 90 | 145 | 138 | |||||||||||||||||||||
Other | 27 | 54 | 51 | 51 | 18 | 81 | 106 | |||||||||||||||||||||
Total Noninterest Income | $ | 604 | $ | 608 | $ | 645 | $ | 657 | $ | 602 | $ | 1,212 | $ | 1,213 | ||||||||||||||
Noninterest Expense | ||||||||||||||||||||||||||||
Salaries and Employee Benefits | $ | 4,420 | $ | 4,207 | $ | 4,128 | $ | 4,082 | $ | 4,004 | $ | 8,627 | $ | 7,944 | ||||||||||||||
Occupancy & Equipment | 638 | 639 | 610 | 574 | 591 | 1,277 | 1,185 | |||||||||||||||||||||
Data Processing | 905 | 738 | 724 | 687 | 665 | 1,643 | 1,395 | |||||||||||||||||||||
Other | 1,544 | 1,022 | 1,000 | 1,002 | 996 | 2,567 | 1,981 | |||||||||||||||||||||
Total Noninterest Expense | $ | 7,507 | $ | 6,606 | $ | 6,462 | $ | 6,345 | $ | 6,256 | $ | 14,114 | $ | 12,505 | ||||||||||||||
Income Before Taxes | $ | 3,791 | $ | 4,206 | $ | 3,964 | $ | 3,730 | $ | 3,200 | $ | 7,997 | $ | 6,185 | ||||||||||||||
Income Tax Expense | $ | 856 | $ | 937 | $ | 880 | $ | 771 | $ | 685 | $ | 1,793 | $ | 1,292 | ||||||||||||||
Net Income (GAAP) | $ | 2,935 | $ | 3,269 | $ | 3,083 | $ | 2,959 | $ | 2,516 | $ | 6,204 | $ | 4,893 | ||||||||||||||
Adjustment for the after-tax effect of merger expenses | $ | 413 | $ | - | $ | - | $ | - | $ | - | $ | 413 | $ | - | ||||||||||||||
Net income excluding the after-tax effect of merger expenses (non-GAAP) | $ | 3,348 | $ | 3,269 | $ | 3,083 | $ | 2,959 | $ | 2,516 | $ | 6,617 | $ | 4,893 | ||||||||||||||
Yield Data - Unaudited
(Dollars in thousands)
Three Months Ended June 30, 2026 | Three Months Ended March 31, 2026 | Three Months Ended June 30, 2025 | ||||||||||||||||||||||||||||||||||
Average | Interest | Yield/ | Average | Interest | Yield/ | Average | Interest | Yield/ | ||||||||||||||||||||||||||||
Assets |
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Earning Assets |
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Interest Bearing Deposits | $ | 207,959 | $ | 1,901 | 3.67 | % | $ | 169,556 | $ | 1,539 | 3.68 | % | $ | 106,804 | $ | 1,164 | 4.37 | % | ||||||||||||||||||
Securities | 85,449 | 635 | 2.97 | % | 90,001 | 679 | 3.02 | % | 94,560 | 705 | 2.98 | % | ||||||||||||||||||||||||
Loans, incl. fees | 980,852 | 15,219 | 6.22 | % | 958,150 | 14,411 | 6.10 | % | 875,458 | 13,241 | 6.07 | % | ||||||||||||||||||||||||
Total Earning Assets | $ | 1,274,260 | $ | 17,755 | 5.59 | % | $ | 1,217,708 | $ | 16,629 | 5.54 | % | $ | 1,076,821 | $ | 15,110 | 5.63 | % | ||||||||||||||||||
Cash and Due From Banks | 8,644 | 10,193 | 8,992 | |||||||||||||||||||||||||||||||||
Other Assets | 25,086 | 25,857 | 21,896 | |||||||||||||||||||||||||||||||||
Total assets | $ | 1,307,990 | $ | 1,253,758 | $ | 1,107,709 | ||||||||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||||||
Interest-Bearing Liabilities | ||||||||||||||||||||||||||||||||||||
Deposits | $ | 980,532 | $ | 6,341 | 2.59 | % | $ | 928,824 | 5,636 | 2.46 | % | $ | 836,940 | $ | 5,460 | 2.62 | % | |||||||||||||||||||
Borrowings | - | - | - | - | - | - | - | - | - | |||||||||||||||||||||||||||
Subordinated Debentures | 22,000 | 329 | 5.99 | % | 22,000 | 329 | 6.06 | % | 20,000 | 316 | 6.34 | % | ||||||||||||||||||||||||
Total Interest -Bearing Liabilities | $ | 1,002,532 | $ | 6,670 | 2.67 | % | $ | 950,824 | $ | 5,965 | 2.54 | % | $ | 856,940 | $ | 5,775 | 2.70 | % | ||||||||||||||||||
Noninterest Bearing Deposits | 189,528 | 190,025 | 164,278 | |||||||||||||||||||||||||||||||||
Other Liabilities | 7,302 | 6,949 | 6,591 | |||||||||||||||||||||||||||||||||
Shareholders' Equity | 108,628 | 105,960 | 79,899 | |||||||||||||||||||||||||||||||||
Total Liabilities & Shareholders' Equity | $ | 1,307,990 | $ | 1,253,758 | $ | 1,107,709 | ||||||||||||||||||||||||||||||
Cost of Deposits, incl. noninterest deposits | 2.17 | % | 2.04 | % | 2.19 | % | ||||||||||||||||||||||||||||||
Cost of Funds, incl. noninterest deposits | 2.24 | % | 2.12 | % | 2.27 | % | ||||||||||||||||||||||||||||||
Net Interest Margin | 3.49 | % | 3.55 | % | 3.48 | % | ||||||||||||||||||||||||||||||
Non-GAAP Financial Measures
Management uses certain non-GAAP financial measures to evaluate the Company's operating performance and financial condition. These measures should not be considered a substitute for, nor superior to, financial measures determined in accordance with U.S. generally accepted accounting principles ("GAAP"). Management believes that these non-GAAP measures provide investors with useful supplemental information regarding the Company's core operating performance and tangible capital position. The tables below provide a reconciliation of GAAP to non-GAAP measures for the periods indicated:
(Dollars in thousands, except per share data)
For the | For the | For the | For the | For the | ||||||||||||||||
Three Months Ended | Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | ||||||||||||||||
June 30, 2026 | March 31, 2026 | June 30, 2025 | June 30, 2026 | June 30, 2025 | ||||||||||||||||
Reconciliation for Adjustments to Exclude the After-Tax Effect of Merger Expenses |
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Net Income (GAAP) | $ | 2,935 | $ | 3,269 | $ | 2,516 | $ | 6,204 | $ | 4,893 | ||||||||||
Adj. for After-Tax Effect of Merger Expenses | 413 | - | - | 413 | - | |||||||||||||||
Net Income Excl. After-Tax Effect of Merger Exp. (Non-GAAP) | $ | 3,348 | $ | 3,269 | $ | 2,516 | $ | 6,617 | $ | 4,893 | ||||||||||
Basic Earnings Per Share (GAAP) | $ | 0.39 | $ | 0.44 | $ | 0.40 | $ | 0.83 | $ | 0.78 | ||||||||||
Adj. for After-Tax Effect of Merger Expenses | 0.05 | - | - | 0.05 | - | |||||||||||||||
Basic Earnings Per Share (excluding merger costs) (Non-GAAP) | $ | 0.44 | $ | 0.44 | $ | 0.40 | $ | 0.88 | $ | 0.78 | ||||||||||
Diluted Earnings Per Share (GAAP) | $ | 0.39 | $ | 0.43 | $ | 0.40 | $ | 0.82 | $ | 0.78 | ||||||||||
Adj. for After-Tax Effect of Merger Expenses | 0.05 | - | - | 0.05 | - | |||||||||||||||
Diluted Earnings Per Share (excluding merger costs) (Non-GAAP) | $ | 0.44 | $ | 0.43 | $ | 0.40 | $ | 0.88 | $ | 0.78 | ||||||||||
Return On Average Assets (GAAP) | 0.89 | % | 1.02 | % | 0.88 | % | 0.96 | % | 0.87 | % | ||||||||||
Adj. for After-Tax Effect of Merger Expenses | 0.13 | % | 0.00 | % | 0.00 | % | 0.06 | % | 0.00 | % | ||||||||||
Return On Average Assets (excluding merger costs) (Non-GAAP) | 1.02 | % | 1.02 | % | 0.88 | % | 1.02 | % | 0.87 | % | ||||||||||
Return On Average Equity (GAAP) | 10.90 | % | 12.51 | % | 12.63 | % | 11.69 | % | 12.49 | % | ||||||||||
Adj. for After-Tax Effect of Merger Expenses | 1.53 | % | 0.00 | % | 0.00 | % | 0.78 | % | 0.00 | % | ||||||||||
Return On Average Equity (excluding merger costs) (Non-GAAP) | 12.44 | % | 12.51 | % | 12.63 | % | 12.47 | % | 12.49 | % | ||||||||||
Efficiency Ratio (GAAP) | 64.17 | % | 58.54 | % | 62.88 | % | 61.41 | % | 64.03 | % | ||||||||||
Adj. for After-Tax Effect of Merger Expenses | -3.53 | % | 0.00 | % | 0.00 | % | -1.80 | % | 0.00 | % | ||||||||||
Efficiency Ratio (excluding merger costs) (Non-GAAP) | 60.63 | % | 58.54 | % | 62.88 | % | 59.61 | % | 64.03 | % | ||||||||||
June 30, 2026 | March 31, 2026 | Dec 31, 2025 | Sept 30, 2025 | June 30, 2025 | ||||||||||||||||
Reconciliation of Tangible Book Value Per Share | ||||||||||||||||||||
Book Value per Share (GAAP) | $ | 14.50 | $ | 14.13 | $ | 13.73 | $ | 13.51 | $ | 12.80 | ||||||||||
Effect to adjust for intangible assets (incl. goodwill) | (0.41 | ) | (0.41 | ) | (0.41 | ) | (0.49 | ) | (0.49 | ) | ||||||||||
Tangible Book Value Per Share (Non-GAAP) | $ | 14.09 | $ | 13.72 | $ | 13.32 | $ | 13.02 | $ | 12.31 | ||||||||||
About Coastal Carolina Bancshares, Inc. Coastal Carolina Bancshares, Inc. is the Bank holding Company of Coastal Carolina National Bank, a Myrtle Beach-based community bank serving Horry, Georgetown, Aiken, Orangeburg, Richland, Greenville, Spartanburg, and Brunswick (NC) counties. Coastal Carolina National Bank is a locally operated financial institution focused on providing personalized service. It offers a full range of banking services designed to meet the specific needs of individuals and small and medium-sized businesses. Headquartered in Myrtle Beach, SC, the Bank also has branches in Garden City, North Myrtle Beach, Conway, Aiken, Orangeburg, Columbia, Greenville, and Spartanburg, South Carolina, and Ocean Isle Beach, North Carolina. Through the substantial experience of our local management and Board of Directors, Coastal Carolina Bancshares, Inc. seeks to enhance value for our shareholders, build lasting customer relationships, benefit our communities and give our employees a meaningful career opportunity. To learn more about the Company and its subsidiary bank, please visit our website at www.myccnb.com.
Forward-Looking Statements Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include, without limitation: the effects of future economic conditions; governmental fiscal and monetary policies; legislative and regulatory changes; the risks of changes in interest rates; successful merger integration; management of growth; fluctuations in our financial results; reliance on key personnel; our ability to compete effectively; privacy, security and other risks associated with our business. Coastal Carolina Bancshares, Inc. assumes no obligation and does not intend to update these forward-looking statements, except as required by law.
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Contact:
Russell Vedder
Title: EVP/CFO
Phone: (843) 839-5662
Fax: (843) 839-5699
SOURCE: Coastal Carolina Bancshares, Inc.
View the original press release on ACCESS Newswire