L. Scott Askins Joins CoastalSouth Bancshares, Inc. and Coastal States Bank Board of Directors

Rhea-AI Summary

CoastalSouth Bancshares and Coastal States Bank appointed L. Scott Askins to its Board of Directors. Askins brings over 20 years of executive experience across FinTech, SaaS, and Healthcare, having executed over 50 strategic transactions. She is currently the General Counsel and Chief Compliance Officer at Kabbage and has previously held executive roles at Premiere Global Services. Her expertise focuses on corporate finance, governance, and risk management. As of March 31, 2021, Coastal States Bank had approximately $1.2 billion in total assets.

Positive

• L. Scott Askins brings extensive experience in scaling companies and executing strategic transactions.
• Expertise in corporate governance and risk management expected to enhance board effectiveness.
• Askins' appointment may drive growth and shareholder value creation.

Negative

• Concerns about continuity in leadership with a significant new board member.
• Potential experience gaps as the board adapts to Askins' strategic approach.

ATLANTA, June 2, 2021 /PRNewswire/ -- The Board of Directors of CoastalSouth Bancshares, Inc. ("CoastalSouth") and Coastal States Bank ("CSB") announced that it has added a new director, L. Scott Askins. Scott is experienced in scaling companies and driving key operating strategies of organic and acquisitive growth.  

"Throughout Scott's career, she has successfully executed over 50 strategic transactions in three separate industries – FinTech, SaaS, and Healthcare," said Steve Stone, President and Chief Executive Officer of CoastalSouth and CSB.  "As a trusted board advisor to global, early- and late-stage private and public companies, she brings over 20 years of C-Suite experience in effectuating stockholder value creation through expertise in corporate finance, director-shareholder engagement, governance, compliance, and risk management."

Scott currently serves as the General Counsel, Chief Compliance Officer and Corporate Secretary for Kabbage, An American Express Company. Before assuming her role at Kabbage, she spent over a decade as an executive at Premiere Global Services.

Scott previously served on the board of the Innovative Lending Platform Association (ILPA), a leading trade organization representing online lending and service companies serving small businesses. She is a frequent speaker on topics such as corporate finance, governance, compliance, company culture and inclusion and diversity. Scott was named on The Legal 500 GC Powerlist: U.S. for 2019 and received an Atlanta Business Chronicle Corporate Counsel Dealmaker award in 2021.

Scott holds a Master of Laws in Taxation from New York University School of Law, a Juris Doctor from the University of South Carolina, and a Bachelor of Science degree in Finance from Clemson University.

About Coastal States Bank

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 and Bluffton), Savannah, and Atlanta, and serves communities across the country through its Government Guaranteed Lending, Seniors Housing, and Mortgage Banker Finance lines of business. As of March 31, 2021, CSB had approximately $1.2 billion in total assets.

CSB is a wholly-owned subsidiary of CoastalSouth Bancshares, Inc. (OTCQX: COSO). 

Coastal States Bank – Local. And Proud of It.^®

For additional information regarding Coastal States Bank please visit www.coastalstatesbank.com.

Media Contact:           
Steve Stone 
President and Chief Executive Officer 
843.341.9937 
sstone@coastalstatesbank.com

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SOURCE Coastal States Bank

FAQ

Who is L. Scott Askins in relation to CoastalSouth Bancshares?

L. Scott Askins has been appointed to the Board of Directors of CoastalSouth Bancshares, bringing over 20 years of executive experience.

What expertise does L. Scott Askins bring to CoastalSouth?

Askins has significant expertise in corporate finance, governance, and risk management, having executed over 50 strategic transactions.

What is the impact of L. Scott Askins' appointment on CoastalSouth Bancshares?

Askins' appointment is expected to enhance board effectiveness and drive growth, potentially increasing shareholder value.

What are the total assets of Coastal States Bank as of March 31, 2021?

As of March 31, 2021, Coastal States Bank had approximately $1.2 billion in total assets.