Coastal Carolina Bancshares, Inc. Announces Third Quarter Results
Quarterly profit increased, but diluted earnings per share fell from a year earlier as funding costs pressured margins.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Coastal Carolina Bancshares (CCNB) reported third-quarter net income of $3.208 million, up from the prior-year quarter despite lower diluted earnings per share. Diluted EPS was $0.42, versus $0.47 a year earlier and $0.39 in the preceding quarter. Nine-month net income rose to $9.413 million, while diluted EPS remained $1.24.
Net interest income rose 14% year over year to $11.2 million. Bank-level net interest margin was 3.50%, versus 3.59% in the preceding quarter and 3.46% a year earlier. Deposits increased $67 million year to date, and loans grew $60 million. Quarterly net charge-offs totaled approximately $1.46 million, related to one loan relationship.
The completed Beacon merger is excluded from September results. The combined organization has approximately $2.3 billion in assets on a pro forma basis. Systems conversion and rebranding as Beacon Bank, N.A. are scheduled for early 2027.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Major pointCompleted Beacon merger creates a combined organization with approximately $2.3 billion in pro forma assets.
- Moderate pointThird-quarter net income increased 8% year over year, reaching $3.208 million versus $2.935 million in the preceding quarter.
- Moderate pointNine-month net income increased 20% year over year to $9.413 million; diluted EPS remained $1.24.
- Moderate pointNet interest income rose 14% year over year and 1% sequentially to $11.2 million.
- Moderate pointAssets increased $76 million, or 6%, year to date to $1.355 billion.
- Moderate pointDeposits increased $67 million, or 6%, year to date to $1.214 billion.
- Moderate pointLoans grew $17 million quarterly and $60 million year to date, reaching $1.004 billion.
- Moderate pointShareholders' equity reached $111.7 million, up $2.5 million sequentially and $8.7 million year to date.
- Moderate pointTangible book value per share reached $14.20, up 9% year over year and 7% year to date.
- Moderate pointNonperforming assets declined to 0.09% of assets, versus 0.26% in the preceding quarter.
9 minor points
- Minor pointQuarterly earnings excluding merger expenses reached $3.428 million, or $0.45 per diluted share.
- Minor pointNine-month earnings excluding merger expenses reached $10.046 million, or $1.32 per diluted share.
- Minor pointNine-month net interest income increased to $32.950 million from $28.141 million a year earlier.
- Minor pointNoninterest income reached $739 thousand, versus $603 thousand sequentially and $657 thousand a year earlier.
- Minor pointNine-month noninterest income increased to $1.951 million from $1.869 million a year earlier.
- Minor pointBook value per share rose to $14.60 from $14.50 in the preceding quarter.
- Minor pointBank capital remained well-capitalized, with leverage, tier 1 and total risk-based ratios of 9.28%, 13.12% and 14.24%.
- Minor pointData processing costs decreased $82 thousand from the preceding quarter.
- Minor pointNine-month efficiency ratio improved to 61.77% from 62.76% a year earlier.
Negative
- Moderate pointQuarterly diluted EPS fell to $0.42 from $0.47 a year earlier, despite increasing from $0.39 sequentially.
- Moderate pointQuarterly net charge-offs totaled approximately $1.46 million, related to one loan relationship. 1.1% of market cap
- Moderate pointNine-month noninterest expense increased to $21.577 million from $18.850 million a year earlier.
- Moderate pointNine-month loan-loss provision increased to $1.530 million from $1.245 million a year earlier. 1.1% of market cap
- Moderate pointQuarterly return on average equity was 11.61%, versus 14.27% a year earlier and 10.90% sequentially.
- Moderate pointQuarterly efficiency ratio was 62.45%, worse than 60.32% a year earlier but improved from 64.17% sequentially.
10 minor points
- Minor pointBank-level net interest margin was 3.50%, down sequentially from 3.59% but above 3.46% a year earlier.
- Minor pointConsolidated net interest margin was 3.36%, versus 3.49% sequentially and 3.35% a year earlier.
- Minor pointInterest-bearing deposit costs increased to 2.71% from 2.59% in the preceding quarter.
- Minor pointEarning-asset yields fell to 5.55% from 5.59%; loan yields slipped to 6.21% from 6.22% sequentially.
- Minor pointQuarterly interest expense increased to $7.315 million, versus $6.670 million sequentially and $6.620 million a year earlier.
- Minor pointQuarterly noninterest expense reached $7.463 million, versus $6.345 million a year earlier and $7.507 million sequentially.
- Minor pointQuarterly loan-loss provision rose to $680 thousand, versus $390 thousand sequentially and $430 thousand a year earlier.
- Minor pointLoan-loss reserves declined to 1.02% of loans, versus 1.12% sequentially and 1.07% a year earlier.
- Minor pointQuarterly return on average assets was 0.95%, versus 0.99% a year earlier and 0.89% sequentially.
- Minor pointNine-month return on average equity declined to 11.67% from 13.11% a year earlier.
Details
News Market Reaction – CCNB
On Oct 29, the day this news came out, CCNB closed 0.23% above the previous close.
Data tracked by StockTitan Argus for the Oct 29 session.
AI-generated analysis. How Rhea-AI works. Not financial advice.
MYRTLE BEACH, SC / ACCESS Newswire / October 29, 2026 / Coastal Carolina Bancshares, Inc. (the "Company") (OTCQX:CCNB), parent of Coastal Carolina National Bank (the "Bank"), reported unaudited financial results for the third quarter of 2026.
The Company reported net income for the three months ended September 30, 2026, of
The Company reported net income of
Merger Completion
On October 1, 2026, CCNB announced the completion of its merger of equals with Beacon Holding Company, Inc. (OTCQB: BCON), the parent company of Beacon Community Bank. At the effective time of the merger, Beacon merged with and into Coastal, with Coastal continuing as the surviving corporation.
Following the merger, Beacon branch locations will now operate as "Beacon Community Bank, a division of Coastal Carolina National Bank." In early 2027, the core systems and operations of Beacon are scheduled to be converted into those of Coastal Carolina National Bank, at which time the bank will be rebranded as Beacon Bank, N.A. Coastal Carolina Bancshares, Inc. will continue trading under the ticker symbol "CCNB". The merger expands the combined company's footprint to sixteen branches and one loan production office serving attractive markets across the coastal Carolinas, from Charleston, South Carolina, to Wilmington, North Carolina, and inland to the Upstate of South Carolina. On a pro forma basis, the combined organization has approximately
Because the merger was completed after September 30, 2026, the Company's reported financial results and financial position as of and for the periods ended September 30, 2026 do not include the operations or financial position of Beacon.
- Third Quarter Financial Highlights
- Quarterly net income of
$3.2 million ($3.4 million excluding the after-tax effect of merger expenses), an increase of8% (16% excluding merger expenses) over the third quarter of 2025 - Net income for the nine months ended September 30, 2026 increased
20% (28% excluding merger expenses) when compared to the same period in 2025. - Quarterly diluted earnings per share of
$0.42 ($0.45 per share excluding the after-tax effect of merger expenses) - Quarterly Return on Average Equity of
11.61% and Return on Average Equity excluding the after-tax effect of merger expenses of12.41% - Bank-level Net Interest Margin of
3.50% for the quarter ended September 30, 2026 compared to3.59% for the prior quarter ended June 30, 2026 and3.46% for the quarter ended September 30, 2025 - Tangible book value per share increased
9% year-over-year and7% year-to-date to$14.20 - Total assets increased
$76 million or6% (8% annualized) compared to December 31, 2025 to$1.355 billion . - Year-to-date deposit growth of
$67 million or6% (8% annualized) from$1.147 billion at December 31, 2025 to$1.214 billion at September 30, 2026 - Quarterly loan growth of
$17 million or2% (7% annualized) during the third quarter, and$60 million or6% (8% annualized) year-to-date, to$1.004 billion at September 30, 2026
President and CEO of the Company and Bank, Laurence S. Bolchoz, Jr. commented, "The third quarter marked an important period for our Company. We generated solid earnings, continued to expand the loan portfolio, and maintained the deposit growth achieved during the first half of the year, while preparing for the completion of our merger with Beacon Holding Company, Inc. With the transaction now complete, we are focused on executing a thoughtful integration, supporting our customers and employees through the transition, and realizing the long-term opportunities of the combined organization."
Coastal Carolina Bancshares, Inc.
Selected Financial Highlights
(unaudited)
| September 30, 2026 | June 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sept 30, 2025 | ||||||||||||
Balance Sheet (In Thousands) | ||||||||||||||||
Total Assets | $ | 1,355,366 | $ | 1,351,107 | $ | 1,278,045 | $ | 1,279,007 | $ | 1,209,800 | ||||||
Investment Securities | 73,234 | 77,903 | 82,869 | 85,921 | 88,226 | |||||||||||
Loans, excluding loans HFS | 1,004,523 | 987,775 | 968,292 | 944,842 | 911,160 | |||||||||||
Deposits | 1,213,777 | 1,212,353 | 1,142,317 | 1,147,072 | 1,096,364 | |||||||||||
Shareholders' Equity | 111,739 | 109,283 | 106,099 | 103,032 | 85,191 | |||||||||||
Total Shares Outstanding (1) | 7,651,731 | 7,537,553 | 7,506,222 | 7,503,722 | 6,303,722 | |||||||||||
Book Value per Share | $ | 14.60 | $ | 14.50 | $ | 14.13 | $ | 13.73 | $ | 13.51 | ||||||
Tangible Book Value Per Share | $ | 14.20 | $ | 14.09 | $ | 13.72 | $ | 13.32 | $ | 13.02 | ||||||
Selected % Increases | 3rd Qtr 2026 | 2nd Qtr 2026 | 1st Qtr 2026 | 4th Qtr 2025 | 3rd Qtr 2025 | |||||||||||
Total Assets | 0 | 6 | 0 | 6 | 2 | % | ||||||||||
Total Loans | 2 | 2 | 2 | 4 | 4 | % | ||||||||||
Total Deposits | 0 | 6 | 0 | 5 | 2 | % | ||||||||||
Selected Ratios | ||||||||||||||||
Loan Loss Reserve to Total Loans | 1.02 | 1.12 | 1.11 | 1.08 | 1.07 | % | ||||||||||
Non-Performing Assets (excl TDRs) to Total Assets | 0.09 | 0.26 | 0.02 | 0.00 | 0.00 | % | ||||||||||
Net Charge-Offs to Avg Total Loans | 0.15 | 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 | Nine Months Ended | Nine Months Ended | ||||||||||||
| September 30, 2026 | June 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | ||||||||||||
Earnings Breakdown (In Thousands) | ||||||||||||||||
Total Interest Income | $ | 18,515 | $ | 17,755 | $ | 16,468 | $ | 52,899 | $ | 45,944 | ||||||
Total Interest Expense | 7,315 | 6,670 | 6,620 | 19,949 | 17,803 | |||||||||||
Net Interest Income | 11,200 | 11,085 | 9,848 | 32,950 | 28,141 | |||||||||||
Total Noninterest Income | 739 | 603 | 657 | 1,951 | 1,869 | |||||||||||
Total Noninterest Expense | 7,463 | 7,507 | 6,345 | 21,577 | 18,850 | |||||||||||
Provision for Loan Losses | 680 | 390 | 430 | 1,530 | 1,245 | |||||||||||
Income Before Taxes | 3,796 | 3,791 | 3,730 | 11,794 | 9,915 | |||||||||||
Taxes | 588 | 856 | 771 | 2,381 | 2,063 | |||||||||||
Net Income | $ | 3,208 | $ | 2,935 | $ | 2,959 | $ | 9,413 | $ | 7,852 | ||||||
Adj. for After-Tax Effect of Merger Expenses | 220 | 413 | 633 | - | ||||||||||||
Net Income Excl. After-Tax Effect of Merger Exp. (Non-GAAP) | $ | 3,428 | $ | 3,348 | $ | 10,046 | $ | 7,852 | ||||||||
Basic Earnings Per Share | $ | 0.42 | $ | 0.39 | $ | 0.47 | $ | 1.25 | $ | 1.25 | ||||||
Diluted Earnings Per Share | $ | 0.42 | $ | 0.39 | $ | 0.47 | $ | 1.24 | $ | 1.24 | ||||||
Basic Earnings Per Share (excluding merger costs) | $ | 0.45 | $ | 0.44 | $ | 1.33 | $ | 1.25 | ||||||||
Diluted Earnings Per Share (excluding merger costs) | $ | 0.45 | $ | 0.44 | $ | 1.32 | $ | 1.24 | ||||||||
Weighted Average Shares Outstanding - Basic | 7,575,659 | 7,524,613 | 6,302,787 | 7,535,551 | 6,279,477 | |||||||||||
Weighted Average Shares Outstanding - Diluted | 7,648,127 | 7,622,927 | 6,362,799 | 7,594,400 | 6,329,909 | |||||||||||
Selected Ratios | ||||||||||||||||
Return On Average Assets | 0.95 | 0.89 | 0.99 | 0.95 | 0.91 | % | ||||||||||
Return On Average Equity | 11.61 | 10.90 | 14.27 | 11.67 | 13.11 | % | ||||||||||
Efficiency Ratio | 62.45 | 64.17 | 60.32 | 61.77 | 62.76 | % | ||||||||||
Return On Average Assets (excluding merger costs) | 1.01 | 1.02 | 0.99 | 1.02 | 0.91 | % | ||||||||||
Return On Average Equity (excluding merger costs) | 12.41 | 12.44 | 14.27 | 12.45 | 13.11 | % | ||||||||||
Efficiency Ratio (excluding merger costs) | 60.61 | 60.63 | 60.32 | 59.95 | 62.76 | % | ||||||||||
Net Interest Margin *Bank Level* | 3.50 | 3.59 | 3.46 | 3.56 | 3.53 | % | ||||||||||
(1) - Total shares outstanding excludes unvested restricted stock awards | ||||||||||||||||
Capital
At September 30, 2026, the Bank remained well-capitalized under applicable regulatory capital requirements with leverage, tier 1 risk-based, and total risk-based capital ratios of
The Company reported book value per share and tangible book value per share at September 30, 2026 of
Balance Sheet and Credit Quality
Total assets increased by
Total deposits remained stable during the quarter, with the Company reporting
President and CEO of the Company and Bank, Laurence S. Bolchoz, Jr., commented:
"Retaining the substantial deposit inflows generated during the second quarter provided a stable funding base for continued loan growth. Deposit levels remained essentially unchanged during the quarter and increased
Net loans increased
The Company continues to report sound asset quality metrics. Net charge-offs totaled approximately
Mr. Bolchoz commented:
"Net charge-offs during the quarter were concentrated in a single loan relationship with reserves established to cover the charge-off amount. We do not believe this isolated matter is indicative of broad-based deterioration within the portfolio. At quarter end, past-due loans remained limited, and the Bank held no OREO. We continue to monitor borrower performance closely and maintain a measured approach to credit administration."
Income Statement
Net Interest Income
Net interest income increased
Net interest income growth during the third quarter of 2026 was driven by continued loan growth and growth in average earning assets, which increased
Mr. Bolchoz said:
"Third-quarter results demonstrate the underlying earnings capacity of the Bank. Net income excluding the after-tax effect of merger-related 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)
| Sep 30, 2026 | June 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | ||||||||||||
Cash and Equivalents | $ | 243,823 | $ | 253,437 | $ | 194,821 | $ | 216,063 | $ | 177,859 | ||||||
Securities | 73,234 | 77,903 | 82,869 | 85,921 | 88,226 | |||||||||||
Loans | ||||||||||||||||
Loans Held for Sale | - | - | 528 | 381 | 966 | |||||||||||
Loans Held for Investment | 1,004,402 | 987,775 | 968,292 | 944,842 | 911,160 | |||||||||||
Allowance for Credit Losses - Loans | (10,274 | ) | (11,065 | ) | (10,718 | ) | (10,238 | ) | (9,727 | ) | ||||||
Net Loans | $ | 994,128 | $ | 976,710 | $ | 958,102 | $ | 934,986 | $ | 902,399 | ||||||
Premises & Equipment | 16,149 | 15,509 | 14,976 | 14,763 | 14,522 | |||||||||||
OREO | - | - | - | - | - | |||||||||||
Goodwill | 2,992 | 2,992 | 2,992 | 2,992 | 2,992 | |||||||||||
Core Deposit Intangible | 93 | 99 | 106 | 112 | 119 | |||||||||||
Bank Owned Life Insurance | 12,272 | 12,172 | 12,073 | 11,972 | 11,872 | |||||||||||
Other Assets | 12,676 | 12,285 | 12,106 | 12,199 | 11,811 | |||||||||||
Total Assets | $ | 1,355,366 | $ | 1,351,107 | $ | 1,278,045 | $ | 1,279,007 | $ | 1,209,800 | ||||||
Deposits | ||||||||||||||||
Noninterest Bearing Deposits | $ | 189,220 | $ | 194,400 | $ | 180,269 | $ | 204,083 | $ | 165,538 | ||||||
Interest Checking | 209,279 | 185,332 | 179,422 | 187,892 | 184,463 | |||||||||||
Savings | 18,302 | 18,047 | 17,737 | 17,285 | 17,999 | |||||||||||
Money Markets | 579,145 | 589,896 | 557,260 | 543,678 | 539,993 | |||||||||||
Certificates of Deposit | 217,830 | 224,678 | 207,629 | 194,134 | 188,371 | |||||||||||
Total Deposits | $ | 1,213,777 | $ | 1,212,353 | $ | 1,142,317 | $ | 1,147,072 | $ | 1,096,364 | ||||||
Subordinated Debentures | 22,000 | 22,000 | 22,000 | 22,000 | 20,000 | |||||||||||
Borrowings | - | - | - | - | - | |||||||||||
Accrued Expense & Other Liabilities | 7,850 | 7,471 | 7,628 | 6,902 | 8,244 | |||||||||||
Total Liabilities | $ | 1,243,627 | $ | 1,241,824 | $ | 1,171,945 | $ | 1,175,974 | $ | 1,124,609 | ||||||
Common Stock and Surplus | $ | 63,609 | $ | 62,442 | $ | 62,316 | $ | 62,224 | $ | 48,090 | ||||||
Retained Earnings | 54,372 | 51,163 | 48,228 | 44,959 | 41,876 | |||||||||||
AOCI | (6,243 | ) | (4,322 | ) | (4,444 | ) | (4,150 | ) | (4,774 | ) | ||||||
Total Shareholders' Equity | $ | 111,739 | $ | 109,283 | $ | 106,099 | $ | 103,032 | $ | 85,191 | ||||||
Total Liabilities & Shareholders' Equity | $ | 1,355,366 | $ | 1,351,107 | $ | 1,278,045 | $ | 1,279,007 | $ | 1,209,800 | ||||||
Income Statement Data - Unaudited
(Dollars in thousands)
| Three Months Ended | Year Ended | ||||||||||||||||||||
| Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Sep 30, 2026 | Sep 30, 2025 | |||||||||||||||
Interest Income | |||||||||||||||||||||
Loans | $ | 15,537 | $ | 15,219 | $ | 14,411 | $ | 14,194 | $ | 13,803 | $ | 45,167 | $ | 39,592 | |||||||
Securities | 2,978 | 2,536 | 2,217 | 2,377 | 2,665 | 7,731 | 6,351 | ||||||||||||||
Total Interest Income | $ | 18,515 | $ | 17,755 | $ | 16,629 | $ | 16,571 | $ | 16,468 | $ | 52,899 | $ | 45,944 | |||||||
Interest Expense | |||||||||||||||||||||
Deposits | $ | 6,986 | $ | 6,341 | $ | 5,636 | $ | 5,960 | $ | 6,269 | $ | 18,963 | $ | 16,890 | |||||||
Borrowings | 329 | 329 | 329 | 346 | 350 | 986 | 913 | ||||||||||||||
Total Interest Expense | $ | 7,315 | $ | 6,670 | $ | 5,965 | $ | 6,305 | $ | 6,620 | $ | 19,949 | $ | 17,803 | |||||||
Net Interest Income | $ | 11,200 | $ | 11,085 | $ | 10,664 | $ | 10,265 | $ | 9,848 | $ | 32,949 | $ | 28,140 | |||||||
Provision for Credit Losses | $ | 680 | $ | 390 | $ | 460 | $ | 485 | $ | 430 | $ | 1,530 | $ | 1,245 | |||||||
Noninterest Income | |||||||||||||||||||||
Bank Owned Life Insurance | $ | 100 | $ | 99 | $ | 100 | $ | 100 | $ | 99 | $ | 300 | $ | 295 | |||||||
ATM, Debit, and Merchant fees | 269 | 268 | 226 | 234 | 240 | 763 | 672 | ||||||||||||||
Service Charge Revenue | 167 | 139 | 153 | 158 | 166 | 459 | 507 | ||||||||||||||
Gain on Sale of Loans | 68 | 70 | 75 | 101 | 100 | 214 | 238 | ||||||||||||||
Other | 135 | 27 | 54 | 51 | 51 | 216 | 157 | ||||||||||||||
Total Noninterest Income | $ | 739 | $ | 604 | $ | 608 | $ | 645 | $ | 657 | $ | 1,951 | $ | 1,869 | |||||||
Noninterest Expense | |||||||||||||||||||||
Salaries and Employee Benefits | $ | 4,472 | $ | 4,420 | $ | 4,207 | $ | 4,128 | $ | 4,082 | $ | 13,099 | $ | 12,026 | |||||||
Occupancy & Equipment | 633 | 638 | 639 | 610 | 574 | 1,910 | 1,759 | ||||||||||||||
Data Processing | 823 | 905 | 738 | 724 | 687 | 2,466 | 2,082 | ||||||||||||||
Other | 1,536 | 1,544 | 1,022 | 1,000 | 1,002 | 4,102 | 2,983 | ||||||||||||||
Total Noninterest Expense | $ | 7,463 | $ | 7,507 | $ | 6,606 | $ | 6,462 | $ | 6,345 | $ | 21,577 | $ | 18,850 | |||||||
Income Before Taxes | $ | 3,796 | $ | 3,791 | $ | 4,206 | $ | 3,964 | $ | 3,730 | $ | 11,793 | $ | 9,915 | |||||||
Income Tax Expense | $ | 588 | $ | 856 | $ | 937 | $ | 880 | $ | 771 | $ | 2,381 | $ | 2,063 | |||||||
Net Income (GAAP) | $ | 3,208 | $ | 2,935 | $ | 3,269 | $ | 3,083 | $ | 2,959 | $ | 9,413 | $ | 7,852 | |||||||
Adjustment for the after-tax effect of merger expenses | $ | 220 | $ | 413 | $ | - | $ | - | $ | - | $ | 633 | $ | - | |||||||
Net income excluding the after-tax effect of merger expenses (non-GAAP) | $ | 3,427 | $ | 3,348 | $ | 3,269 | $ | 3,083 | $ | 2,959 | $ | 10,045 | $ | 7,852 | |||||||
Yield Data - Unaudited
(Dollars in thousands)
| Three Months Ended September 30, 2026 | Three Months Ended June 30, 2026 | Three Months Ended September 30, 2025 | ||||||||||||||||||||||||||||
| Average Balance | Interest Earned/Paid | Yield/ Rate | Average Balance | Interest Earned/Paid | Yield/ Rate | Average Balance | Interest Earned/Paid | Yield/ Rate | ||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||
Earning Assets | ||||||||||||||||||||||||||||||
Interest Bearing Deposits | $ | 251,196 | $ | 2,359 | 3.73 | % | $ | 207,959 | $ | 1,901 | 3.67 | % | $ | 178,039 | $ | 1,965 | 4.38 | % | ||||||||||||
Securities | 80,128 | 619 | 3.09 | % | 85,449 | 635 | 2.97 | % | 93,438 | 700 | 3.00 | % | ||||||||||||||||||
Loans, incl. fees | 993,053 | 15,537 | 6.21 | % | 980,852 | 15,219 | 6.22 | % | 896,842 | 13,803 | 6.11 | % | ||||||||||||||||||
Total Earning Assets | $ | 1,324,377 | $ | 18,515 | 5.55 | % | $ | 1,274,260 | $ | 17,755 | 5.59 | % | $ | 1,168,319 | $ | 16,468 | 5.59 | % | ||||||||||||
Cash and Due From Banks | 17,479 | 8,644 | 9,038 | |||||||||||||||||||||||||||
Other Assets | 26,622 | 25,086 | 22,874 | |||||||||||||||||||||||||||
Total assets | $ | 1,368,478 | $ | 1,307,990 | $ | 1,200,231 | ||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||
Interest-Bearing Liabilities | ||||||||||||||||||||||||||||||
Deposits | $ | 1,022,454 | $ | 6,986 | 2.71 | % | $ | 980,532 | 6,341 | 2.59 | % | $ | 921,923 | $ | 6,269 | 2.70 | % | |||||||||||||
Borrowings | - | - | - | - | - | - | - | - | - | |||||||||||||||||||||
Subordinated Debentures | 22,000 | 329 | 5.93 | % | 22,000 | 329 | 6.00 | % | 20,000 | 350 | 6.94 | % | ||||||||||||||||||
Total Interest -Bearing Liabilities | $ | 1,044,454 | $ | 7,315 | 2.78 | % | $ | 1,002,532 | $ | 6,670 | 2.67 | % | $ | 941,923 | $ | 6,619 | 2.79 | % | ||||||||||||
Noninterest Bearing Deposits | 204,201 | 189,528 | 167,234 | |||||||||||||||||||||||||||
Other Liabilities | 8,177 | 7,302 | 7,910 | |||||||||||||||||||||||||||
Shareholders' Equity | 111,646 | 108,628 | 83,164 | |||||||||||||||||||||||||||
Total Liabilities & Shareholders' Equity | $ | 1,368,478 | $ | 1,307,990 | $ | 1,200,231 | ||||||||||||||||||||||||
Cost of Deposits, incl. noninterest deposits | 2.26 | % | 2.17 | % | 2.28 | % | ||||||||||||||||||||||||
Cost of Funds, incl. noninterest deposits | 2.32 | % | 2.24 | % | 2.37 | % | ||||||||||||||||||||||||
Net Interest Margin | 3.36 | % | 3.49 | % | 3.35 | % | ||||||||||||||||||||||||
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 | Nine Months Ended | Nine Months Ended | ||||||||||||
| September 30, 2026 | June 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | ||||||||||||
Reconciliation for Adjustments to Exclude the After-Tax Effect of Merger Expenses | ||||||||||||||||
Net Income (GAAP) | $ | 3,208 | $ | 2,935 | $ | 2,959 | $ | 9,413 | $ | 7,852 | ||||||
Adj. for After-Tax Effect of Merger Expenses | 220 | 413 | - | 633 | - | |||||||||||
Net Income Excl. After-Tax Effect of Merger Exp. (Non-GAAP) | $ | 3,428 | $ | 3,348 | $ | 2,959 | $ | 10,046 | $ | 7,852 | ||||||
Basic Earnings Per Share (GAAP) | $ | 0.42 | $ | 0.39 | $ | 0.47 | $ | 1.25 | $ | 1.25 | ||||||
Adj. for After-Tax Effect of Merger Expenses | 0.03 | 0.05 | - | 0.08 | - | |||||||||||
Basic Earnings Per Share (excluding merger costs) (Non-GAAP) | $ | 0.45 | $ | 0.44 | $ | 0.47 | $ | 1.33 | $ | 1.25 | ||||||
Diluted Earnings Per Share (GAAP) | $ | 0.42 | $ | 0.39 | $ | 0.47 | $ | 1.24 | $ | 1.24 | ||||||
Adj. for After-Tax Effect of Merger Expenses | 0.03 | 0.05 | - | 0.08 | - | |||||||||||
Diluted Earnings Per Share (excluding merger costs) (Non-GAAP) | $ | 0.45 | $ | 0.44 | $ | 0.47 | $ | 1.32 | $ | 1.24 | ||||||
Return On Average Assets (GAAP) | 0.95 | % | 0.89 | % | 0.99 | % | 0.95 | % | 0.91 | % | ||||||
Adj. for After-Tax Effect of Merger Expenses | 0.06 | % | 0.13 | % | 0.00 | % | 0.07 | % | 0.00 | % | ||||||
Return On Average Assets (excluding merger costs) (Non-GAAP) | 1.01 | % | 1.02 | % | 0.99 | % | 1.02 | % | 0.91 | % | ||||||
Return On Average Equity (GAAP) | 11.61 | % | 10.90 | % | 14.27 | % | 11.67 | % | 13.11 | % | ||||||
Adj. for After-Tax Effect of Merger Expenses | 0.80 | % | 1.53 | % | 0.00 | % | 0.78 | % | 0.00 | % | ||||||
Return On Average Equity (excluding merger costs) (Non-GAAP) | 12.41 | % | 12.44 | % | 14.27 | % | 12.45 | % | 13.11 | % | ||||||
Efficiency Ratio (GAAP) | 62.45 | % | 64.17 | % | 60.32 | % | 61.77 | % | 62.76 | % | ||||||
Adj. for After-Tax Effect of Merger Expenses | -1.84 | % | -3.53 | % | 0.00 | % | -1.82 | % | 0.00 | % | ||||||
Efficiency Ratio (excluding merger costs) (Non-GAAP) | 60.61 | % | 60.63 | % | 60.32 | % | 59.95 | % | 62.76 | % | ||||||
| Sept 30, 2026 | June 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sept 30, 2025 | ||||||||||||
Reconciliation of Tangible Book Value Per Share | ||||||||||||||||
Book Value per Share (GAAP) | $ | 14.60 | $ | 14.50 | $ | 14.13 | $ | 13.73 | $ | 13.51 | ||||||
Effect to adjust for intangible assets (incl. goodwill) | (0.40 | ) | (0.41 | ) | (0.41 | ) | (0.41 | ) | (0.49 | ) | ||||||
Tangible Book Value Per Share (Non-GAAP) | $ | 14.20 | $ | 14.09 | $ | 13.72 | $ | 13.32 | $ | 13.02 | ||||||
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, Brunswick and New Hanover (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, and a loan production office (LPO) in Wilmington, 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.
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
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
Does CCNB's third-quarter 2026 financial report include Beacon?
No. Beacon's operations and financial position are excluded from the periods ended September 30, 2026 because the merger was completed after that date. On a pro forma basis, the combined organization has approximately $2.3 billion in assets, $2.0 billion in deposits and $1.8 billion in loans.
What credit-quality balances did CCNB report at September 30, 2026?
CCNB reported $1.2 million in non-accrual loans, representing 0.13% of total loans, and $0.2 million in loans past due 30–89 days. The allowance for credit losses on loans totaled $10.3 million. The bank held no foreclosed real estate at quarter end.