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CoastalSouth Bancshares, Inc. reports developments as the holding company for Coastal States Bank, a community bank serving retail, commercial and small-business customers. Company updates center on quarterly earnings, loan production, core deposit trends, asset quality, dividends and common-stock repurchase authorizations.
Recurring announcements also describe Coastal States Bank's community banking markets in the Lowcountry of South Carolina, Savannah and metro Atlanta, along with commercial banking expansion, small-business lending programs, treasury management, commercial real estate lending, and specialty lines including Government Guaranteed Lending, Senior Housing, Correspondent Marine and Mortgage Banker Finance.
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Coastal States Bank (CSB) announces the appointment of Makisha Gann as Vice President and Community Banker in the Atlanta region. With over 20 years in retail banking, Gann is expected to enhance customer service and community relationships. CSB's President, Gary Dowell, expressed excitement about her joining the team, highlighting her experience and commitment to clients. CSB operates in various locations, including Hilton Head Island, Bluffton, Savannah, and Atlanta, with total assets amounting to approximately $1.9 billion. CSB is a subsidiary of CoastalSouth Bancshares, Inc. (OTCQX: COSO).
CoastalSouth Bancshares (OTC-PINK:COSO) announced the completion of a private placement of common stock, raising approximately $9 million. These funds will be used for general corporate purposes, including the enhancement of regulatory capital ratios. As of March 31, 2023, CoastalSouth held about $2 billion in total assets and has a strong community banking presence across South Carolina, Georgia, and additional states. CEO Steve Stone highlighted the positive investor support and growth opportunities in the community banking sector.
Coastal States Bank (CSB) announced the appointment of Cory Burdette as the Senior Vice President for its new Financial Institutions Group on November 1, 2022. Burdette brings over 15 years of banking experience, previously serving at Atlantic Capital Bank and BBVA Compass. CSB aims to leverage his expertise to enhance relationships with other financial institutions in the Southeast. As of September 30, 2022, CSB reported total assets of approximately $1.72 billion.
CoastalSouth Bancshares announced the successful acquisition of Cornerstone Bancshares, enhancing its presence in the Atlanta market. With Cornerstone's deposits around $201.5 million as of June 30, 2021, this transaction elevates CoastalSouth to the 25th largest bank by deposit market share in the Atlanta MSA, totaling over $550 million. CoastalSouth emphasizes commitment to local communities and exceptional customer experience during the integration process. As of October 1, 2021, CoastalSouth had approximately $1.6 billion in total assets.
Coastal States Bank (CSB) has appointed Nicole Klein as Senior Vice President and Private Banker for the Atlanta Region, effective September 9, 2021. With over 30 years of banking expertise, Klein will focus on private banking for individuals and businesses. Gary Dowell, Atlanta Regional President, expressed enthusiasm for Klein's community commitment and professional experience. As of April 1, 2021, CSB reported approximately $1.2 billion in total assets, serving various locations including South Carolina, Savannah, and Atlanta.
Coastal States Bank announced the appointment of Tre' Luckett as Vice President and Business Development Officer in its Government Guaranteed Lending Team. With nearly 20 years of experience, Luckett specializes in SBA 7A loans and franchise relationships, previously holding roles at CIT, Evolve Bank & Trust, and First Bank. CSB, which has approximately $1.2 billion in total assets as of April 2021, aims to strengthen its team with Luckett's expertise. The bank provides a full range of services for businesses and individuals across various locations.
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.