Coastal States Bank Expands into Charleston, Announces Local Commercial Banking Team
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
Key Terms
c&i lendingfinancial
C&I lending is the practice of banks and other lenders making loans to businesses to fund everyday operations, buy equipment, cover payroll, or support short-term cash needs. Think of it as a business line of credit or loan that keeps a company running, rather than a mortgage or consumer loan. Investors watch C&I activity because volume, loan rates and default levels signal how healthy corporate borrowers and lenders are, affecting bank profits and broader economic momentum.
commercial real estate lendingfinancial
Commercial real estate lending is when banks or other lenders provide loans to buy, build, upgrade, or pay off debt on properties used for business—such as office buildings, stores, warehouses, or apartment complexes. Investors pay attention because these loans determine how easily developers and owners can operate and grow properties, affect banks’ earnings and risk, and therefore influence property values and rental income, much like mortgages shape the housing market.
treasury management servicesfinancial
Treasury management services are the tools and processes a company uses to handle its cash, payments, borrowing and short-term investments—like a personal finance app but for a business's money. Investors care because efficient treasury work lowers the risk of running out of cash, reduces borrowing costs and can boost returns on idle funds, which affects a company’s stability, creditworthiness and ultimately its stock value.
initial public offeringfinancial
An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.
new york stock exchangetechnical
The New York Stock Exchange is a marketplace where people buy and sell shares of publicly traded companies. It functions like a busy trading hub, helping investors transfer ownership of company parts and providing a way to gauge how well businesses are doing. Its role is vital because it offers liquidity and transparency, making it easier for investors to buy and sell investments confidently.
CHARLESTON, S.C.--(BUSINESS WIRE)--
Coastal States Bank (“CSB”), a local community bank headquartered on Hilton Head Island, today announced its expansion into the Charleston market. This strategic move continues CSB’s growth in the Lowcountry, where the bank has served clients in Beaufort County for more than 20 years.
Edward Vaughan, Coastal States Bank, Charleston Market President
To support the expansion, CSB has assembled a locally based commercial banking team with extensive experience serving businesses throughout Charleston and the broader Lowcountry market. Edward Vaughan will serve as Charleston Market President, joined by David Wenger, Senior Commercial Banker, and Thomas Pritchard, Commercial Banker. Together, the team brings more than 50 years of combined banking experience and will focus on developing deposit and loan relationships through C&I lending, commercial real estate lending, and treasury management services for small and mid-sized businesses.
“Our expansion into Charleston builds upon the strong foundation we have established in the Lowcountry and reflects our continued investment in this dynamic region,” said Stephen R. Stone, President and Chief Executive Officer of CSB. “This market values relationships, local expertise, and trust—values that define how we do business. Charleston and this outstanding team of bankers, led by Edward Vaughan, are a natural fit for our relationship-driven banking model. Following our initial public offering and listing on the New York Stock Exchange last July, this investment marks the next exciting chapter in the CSB story.”
“It is an honor to join the CSB team,” said Vaughan. “Charleston’s business community is diverse, entrepreneurial, and deeply connected to this region. Our team is proud to bring a relationship banking approach that combines local insight with the service and financial resources businesses need to succeed.”
About the Company
Coastal States Bank builds relationships by providing a full range of banking services designed for businesses, their owners and individuals looking for a local banking partner. CSB has a community banking presence in the Lowcountry of South Carolina (Hilton Head Island, Bluffton, Beaufort and Charleston), Savannah and the Atlanta Metropolitan market, and serves communities across the country through its Government Guaranteed Lending, Senior Housing, Correspondent Marine and Mortgage Banker Finance lines of business. At present, CSB has approximately $2.3 billion in total assets.
CSB is a wholly-owned subsidiary of CoastalSouth Bancshares, Inc. (NYSE: COSO).
