Coastal Carolina Bancshares, Inc. Reports First Quarter Earnings

Q: What were Coastal Carolina Bancshares (CCNB) Q1 2026 earnings and EPS?

Q1 2026 net income was $3.3 million and diluted EPS was $0.43 . According to the company, this represents a 6% increase versus the prior quarter and a 38% increase year-over-year.

Q: How did CCNB's loan portfolio change in Q1 2026?

Loans grew by $23 million during Q1 2026, a 2.5% quarterly increase (10% annualized). According to the company, growth was concentrated in commercial and industrial, owner-occupied CRE, and construction lending.

Q: What was Coastal Carolina Bancshares' net interest margin (NIM) in Q1 2026?

Bank-level NIM was 3.66% for Q1 2026. According to the company, margin expansion reflected loan growth and lower funding costs following Fed rate cuts in 2025.

Q: How did Coastal Carolina Bancshares' capital position and book value change in Q1 2026?

Shareholders' equity rose to $106.1 million , book value per share to $14.13 , and tangible book to $13.72 . According to the company, retained earnings drove the quarter-over-quarter equity increase.

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Rhea-AI Summary

Coastal Carolina Bancshares (OTCQX:CCNB) reported Q1 2026 net income of $3.3 million or $0.43 diluted EPS, up 6% vs. Q4 2025 and 38% vs. Q1 2025. Bank net interest margin rose to 3.66%, loans grew by $23 million (2.5% q/q), deposits were $1.14 billion, and nonperforming assets were 0.02%.

Capital ratios remained strong with total shareholders' equity of $106.1 million and tangible book value per share of $13.72 at March 31, 2026.

AI-generated analysis. Not financial advice.

Positive

Net income of $3.3M in Q1 2026 (up 6% q/q, 38% y/y)
Bank net interest margin improved to 3.66%
Quarterly loan growth of $23M (2.5% q/q, 10% annualized)
Tangible book value per share increased to $13.72
Strong capital ratios: Total risk-based capital 14.09%

Negative

Deposits declined $5M (0.4% q/q) due to runoff of short-term balances
Noninterest expense rose to $6.6M, partly from higher compensation and occupancy costs
Provision for credit losses increased to $460K raising CECL allowance to 1.11% of loans

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04/24/2026 - 12:40 PM

MYRTLE BEACH, SC / ACCESS Newswire / April 24, 2026 / Coastal Carolina Bancshares, Inc. (the "Company") (OTCQX:CCNB), parent company of Coastal Carolina National Bank (the "Bank"), reported unaudited financial results for the three months ended March 31, 2026.

For the first quarter of 2026, the Company reported net income of $3.3 million, or $0.43 per diluted share, compared to net income of $3.1 million, or $0.47 per diluted share, for the linked quarter ended December 31, 2025, and net income of $2.4 million, or $0.38 per diluted share, for the first quarter of 2025. Quarterly performance reflected continued loan growth, expansion in net interest margin, and disciplined expense management, while maintaining strong capital and credit quality metrics.

First Quarter 2026 Financial Highlights

Net income of $3.3 million, an increase of 6% over the prior quarter and 38% over the first quarter of 2025

Diluted earnings per share of $0.43

Bank level net interest margin of 3.66%, compared to 3.55% for the fourth quarter of 2025

Return on average assets of 1.02% and return on average equity of 12.5%

Loan growth of $23 million, or 2.5%, during the quarter (10% annualized)

Deposits declined $5 million (0.4%), reflecting anticipated runoff of temporary fourth‑quarter balances

Book value per share and tangible book value per share increased to $14.13 and $13.72, respectively well-positioned

Strong credit quality metrics with a non‑performing assets ratio of 0.02%, no OREO, and no net charge‑offs

President and CEO of the Company and Bank, Laurence S. Bolchoz, Jr. commented, "We are pleased with our strong start to 2026. Continued loan growth, disciplined expense control, and improving funding costs drove solid earnings and margin expansion during the quarter. Just as important, our credit metrics remain exceptionally strong, and our balance sheet is well-positioned to support continued growth throughout the year."

Coastal Carolina Bancshares, Inc.
Selected Financial Highlights
(unaudited)

	Mar 31, 2026			Dec 31, 2025			Sept 30, 2025			June 30, 2025			Mar 31, 2025
Balance Sheet (In Thousands)
Total Assets	$	1,278,045		$	1,279,007		$	1,209,800		$	1,187,475		$	1,107,714
Investment Securities		82,869			85,921			88,226			84,969			89,543
Loans, excluding loans HFS		968,292			944,842			911,160			879,627			862,605
Deposits		1,142,317			1,147,072			1,096,364			1,079,874			1,002,265
Shareholders' Equity		106,099			103,032			85,191			80,705			78,700

Total Shares Outstanding (1)		7,506,222			7,503,722			6,303,722			6,302,722			6,262,886
Book Value per Share	$	14.13		$	13.73		$	13.51		$	12.80		$	12.57
Tangible Book Value Per Share	$	13.72		$	13.32		$	13.02		$	12.31		$	12.07

Selected % Increases	1st Qtr 2026			4th Qtr 2025			3rd Qtr 2025			2nd Qtr 2025			1st Qtr 2025
Total Assets		0	%		6	%		2	%		7	%		2	%
Total Loans		2	%		4	%		4	%		2	%		3	%
Total Deposits		0	%		5	%		2	%		8	%		1	%

Selected Ratios
Loan Loss Reserve to Total Loans		1.11	%		1.08	%		1.07	%		1.06	%		1.03	%
Non-Performing Assets (excl TDRs) to Total Assets		0.02	%		0.00	%		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
	Three Months Ended			Three Months Ended			Three Months Ended			Twelve Months Ended
	March 31, 2026			December 31, 2025			March 31, 2025			December 31, 2025
Earnings Breakdown (In Thousands)
Total Interest Income	$	16,629		$	16,570		$	14,366		$	62,514
Total Interest Expense		5,965			6,305			5,408			24,108
Net Interest Income		10,664			10,265			8,958			38,406
Total Noninterest Income		608			645			610			2,515
Total Noninterest Expense		6,606			6,462			6,249			25,312
Provision for Loan Losses		460			485			335			1,730
Income Before Taxes		4,206			3,963			2,984			13,879
Taxes		937			880			607			2,944
Net Income	$	3,269		$	3,083		$	2,377		$	10,935

Basic Earnings Per Share	$	0.44		$	0.48		$	0.38		$	1.73
Diluted Earnings Per Share	$	0.43		$	0.47		$	0.38		$	1.71
Weighted Average Shares Outstanding - Basic		7,505,611			6,460,244			6,256,902			6,325,040
Weighted Average Shares Outstanding - Diluted		7,613,794			6,538,705			6,332,640			6,388,691

Selected Ratios
Return On Average Assets		1.02	%		0.99	%		0.87	%		0.93	%
Return On Average Equity		12.51	%		13.10	%		12.35	%		13.10	%
Efficiency Ratio		58.54	%		59.17	%		65.23	%		61.78	%
Net Interest Margin Bank Level		3.66	%		3.55	%		3.55	%		3.54	%

(1) - Total shares outstanding excludes unvested restricted stock awards

Capital

At March 31, 2026, the Bank remained well-capitalized under regulatory capital requirements with Leverage, Tier 1, and Total Risk-Based capital ratios of 9.53%, 12.89%, and 14.09%, respectively. Consolidated Shareholders' equity totaled $106.1 million, an increase of $3.1 million from December 31, 2025, driven primarily by retained earnings.

Book value per share increased to $14.13 at March 31, 2026, compared to $13.73 at December 31, 2025, and tangible book value per share increased to $13.72, compared to $13.32 at December 31, 2025.

Balance Sheet and Credit Quality

Total assets were $1.28 billion at March 31, 2026, essentially flat compared to December 31, 2025.

Net loans increased $23 million, or 2.5% (10% annualized), during the quarter to $968 million, reflecting continued organic growth across our markets. First quarter growth was concentrated in commercial and industrial, owner occupied commercial real estate, and construction and development lending, which represented $12 million, $6 million, and 4.5 million in net growth, respectively. ,

Total deposits were $1.14 billion at quarter‑end, decreasing $5 million, or 0.4%, from December 31, 2025. The decline was primarily attributable to the expected runoff of several large, short‑term commercial deposits received late in the fourth quarter of 2025.

Asset quality metrics remained strong during the first quarter of 2026. Non‑performing assets represented 0.02% of total assets, and the Company reported no net charge‑offs during the quarter. Additionally, the Company had no other real estate owned at March 31, 2026.

Income Statement

Net Interest Income

Net interest income increased $0.4 million or 4% to $10.7 million for the quarter ended March 31, 2026, compared to $10.3 million during the most recent linked quarter, and increased 19% when compared to prior year's first quarter net interest income of $9.0 million. Bank level net interest margin was 3.66% for the quarter ended March 31, 2026, compared to 3.55% for the prior quarter ended December 31, 2025 and 3.55% during the first quarter of 2025. The Company's consolidated net interest margin was 3.55% for the quarter ended March 31, 2026, compared to 3.44% for the prior quarter ended December 31, 2025 and 3.45% during the first quarter of 2025.

Fourth quarter margin improvement was driven primarily by continued loan growth and stable earning asset yields coupled with a reduction in the Company's funding costs following the recent Federal Reserve rate cuts during the third and fourth quarters of 2025. The Company's cost of deposits decreased to 2.04% for the first quarter of 2026 compared to 2.14% during the most recent linked quarter and first quarter of 2025.

Noninterest Income

Noninterest income was relatively stable quarter over quarter and consisted primarily of service charges and fees on deposit accounts, interchange and merchant fee income, mortgage sales income, and earnings from bank owned life insurance. Noninterest income totaled $608 thousand for the quarter ended March 31, 2026, compared to $645 thousand earned during the most recent quarter, and 610 thousand during the first quarter of 2025.

Noninterest Expense

Noninterest expense totaled $6.6 million for the quarter ended March 31, 2026, compared to $6.5 million for the prior quarter ended December 31, 2025, and $6.2 million for the comparative quarter ended March 31, 2025. Noninterest expense was relatively flat when compared to the most recent linked quarter, while year over year increases resulted primarily from higher compensation and benefits expense, increased business development costs and increased occupancy costs, supporting the Company's continued growth and expansion into new markets.

Provision for Loan Losses

During the quarter, the Bank recorded a provision of $460 thousand for changes in CECL allowance for credit losses. At March 31, 2026, the Bank's allowance for credit losses on loans increased to $10.7 million or 1.11% of loans outstanding. In addition, the Bank's reserve on unfunded commitments was $417 thousand for a total CECL reserve of $11.1 million.

Balance Sheet Data - Unaudited
(Dollars in thousands)

	Mar 31, 2026			Dec 31, 2025			Sep 30, 2025			Jun 30, 2025			Mar 31, 2025
Cash and Equivalents	$	194,821		$	216,063		$	177,859		$	190,049		$	124,210
Securities		82,869			85,921			88,226			84,969			89,543
Loans
Loans Held for Sale		528			381			966			1,698			2,099
Loans Held for Investment		968,292			944,842			911,160			879,627			862,105
Allowance for Credit Losses - Loans		(10,718	)		(10,238	)		(9,727	)		(9,292	)		(8,850	)
Net Loans	$	958,102		$	934,986		$	902,399		$	872,034		$	855,354
Premises & Equipment		14,976			14,763			14,522			13,649			11,835
OREO		-			-			-			-			-
Goodwill		2,992			2,992			2,992			2,992			2,992
Core Deposit Intangible		106			112			119			127			135
Bank Owned Life Insurance		12,073			11,972			11,872			11,773			11,675
Other Assets		12,106			12,199			11,811			11,884			11,971
Total Assets	$	1,278,045		$	1,279,007		$	1,209,800		$	1,187,475		$	1,107,714

Deposits
Noninterest Bearing Deposits	$	180,269		$	204,083		$	165,538		$	171,242		$	168,160
Interest Checking		179,422			187,892			184,463			191,145			195,702
Savings		17,737			17,285			17,999			17,491			17,885
Money Markets		557,260			543,678			539,993			515,903			446,647
Certificates of Deposit		207,629			194,134			188,371			184,092			173,870
Total Deposits	$	1,142,317		$	1,147,072		$	1,096,364		$	1,079,873		$	1,002,265
Subordinated Debentures		22,000			22,000			20,000			20,000			20,000
Borrowings		-			-			-			-			-
Accrued Expense & Other Liabilities		7,628			6,902			8,244			6,897			6,749
Total Liabilities	$	1,171,945		$	1,175,974		$	1,124,609		$	1,106,770		$	1,029,014

Common Stock and Surplus	$	62,316		$	62,224		$	48,090		$	48,009		$	47,893
Retained Earnings		48,228			44,959			41,876			38,917			36,401
AOCI		(4,444	)		(4,150	)		(4,774	)		(6,221	)		(5,594	)
Total Shareholders' Equity	$	106,099		$	103,032		$	85,191		$	80,705		$	78,700

Total Liabilities & Shareholders' Equity	$	1,278,045		$	1,279,007		$	1,209,800		$	1,187,475		$	1,107,714

Income Statement Data - Unaudited
(Dollars in thousands)

	Three Months Ended
	Mar 31, 2026		Dec 31, 2025		Sep 30, 2025		Jun 30, 2025		Mar 31, 2025
Interest Income
Loans	$	14,411	$	14,194	$	13,803	$	13,241	$	12,548
Securities		2,217		2,377		2,665		1,869		1,818
Total Interest Income	$	16,629	$	16,571	$	16,468	$	15,110	$	14,366

Interest Expense
Deposits	$	5,636	$	5,960	$	6,269	$	5,460	$	5,161
Borrowings		329		346		350		316		247
Total Interest Expense	$	5,965	$	6,305	$	6,620	$	5,775	$	5,408

Net Interest Income	$	10,664	$	10,265	$	9,848	$	9,334	$	8,958

Provision for Credit Losses	$	460	$	485	$	430	$	480	$	335

Noninterest Income
Bank Owned Life Insurance	$	100	$	100	$	99	$	97	$	99
ATM, Debit, and Merchant fees		226		234		240		230		201
Service Charge Revenue		153		158		166		167		174
Gain on Sale of Loans		75		101		100		90		48
Other		54		51		51		18		88
Total Noninterest Income	$	608	$	645	$	657	$	602	$	610

Noninterest Expense
Salaries and Employee Benefits	$	4,207	$	4,128	$	4,082	$	4,004	$	3,940
Occupancy & Equipment		639		610		574		591		594
Data Processing		738		724		687		665		730
Other		1,022		1,000		1,002		996		985
Total Noninterest Expense	$	6,606	$	6,462	$	6,345	$	6,256	$	6,249

Income Before Taxes	$	4,206	$	3,964	$	3,730	$	3,200	$	2,984
Income Tax Expense	$	937	$	880	$	771	$	685	$	607
Net Income	$	3,269	$	3,083	$	2,959	$	2,516	$	2,377

Yield Data - Unaudited
(Dollars in thousands)

	Three Months Ended March 31, 2026							Three Months Ended December 31, 2025							Three Months Ended March 31, 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	$	169,556	$	1,539		3.68	%	$	168,678	$	1,670		3.93	%	$	101,196	$	1,097		4.40	%
Securities		90,001		679		3.02	%		92,888		706		3.04	%		98,479		720		2.93	%
Loans, incl. fees		958,150		14,411		6.10	%		924,591		14,194		6.09	%		851,085		12,548		5.98	%
Total Earning Assets	$	1,217,708	$	16,629		5.54	%	$	1,186,157	$	16,571		5.54	%	$	1,050,759	$	14,366		5.54	%
Cash and Due From Banks		10,193							9,477							9,691
Other Assets		25,857							25,435							21,328
Total assets	$	1,253,758						$	1,221,069						$	1,081,779

Liabilities
Interest-Bearing Liabilities
Deposits	$	928,824		5,636		2.46	%	$	928,244		5,960		2.55	%	$	815,273		5,161		2.57	%
Borrowings		-		-		-			-		-		-			1		0		5.35	%
Subordinated Debentures		22,000		329		6.06	%		21,761		345		6.30	%		20,000		247		5.01	%
Total Interest -Bearing Liabilities	$	950,824	$	5,965		2.54	%	$	950,005	$	6,305		2.63	%	$	835,274	$	5,408		2.63	%
Noninterest Bearing Deposits		190,025							174,396							162,636
Other Liabilities		6,949							8,324							6,327
Shareholders' Equity		105,960							88,345							77,542
Total Liabilities & Shareholders' Equity	$	1,253,758						$	1,221,069						$	1,081,779

Cost of Deposits, incl. noninterest deposits						2.04	%						2.14	%						2.14	%
Cost of Funds, incl. noninterest deposits						2.12	%						2.22	%						2.20	%
Net Interest Margin						3.55	%						3.44	%						3.45	%

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

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

What were Coastal Carolina Bancshares (CCNB) Q1 2026 earnings and EPS?

Q1 2026 net income was $3.3 million and diluted EPS was $0.43. According to the company, this represents a 6% increase versus the prior quarter and a 38% increase year-over-year.

How did CCNB's loan portfolio change in Q1 2026?

Loans grew by $23 million during Q1 2026, a 2.5% quarterly increase (10% annualized). According to the company, growth was concentrated in commercial and industrial, owner-occupied CRE, and construction lending.

What was Coastal Carolina Bancshares' net interest margin (NIM) in Q1 2026?

Bank-level NIM was 3.66% for Q1 2026. According to the company, margin expansion reflected loan growth and lower funding costs following Fed rate cuts in 2025.

Did CCNB report any asset quality issues in Q1 2026?

No significant asset quality issues were reported; nonperforming assets were 0.02% and there were no net charge-offs. According to the company, credit metrics remained exceptionally strong at quarter-end.

How did Coastal Carolina Bancshares' capital position and book value change in Q1 2026?

Shareholders' equity rose to $106.1 million, book value per share to $14.13, and tangible book to $13.72. According to the company, retained earnings drove the quarter-over-quarter equity increase.