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.
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.
Coastal States Bank (COSO) announces the appointment of Eric Rivenbark as the new Commercial Banking Team Leader for the Atlanta region. With 20 years of experience in community banking, Rivenbark focuses on fostering strong client relationships. His educational background includes a Bachelor's in Business Administration & Finance from the University of Georgia and ongoing studies at the Graduate School of Banking at LSU. As of April 1, 2021, CSB reported approximately $1.2 billion in total assets, serving various communities through multiple banking services.
CoastalSouth Bancshares has announced a definitive merger agreement with Cornerstone Bancshares, enhancing its presence in the Atlanta market. The merger, unanimously approved by both boards, is set to close in Q3 2021. Following the merger, CoastalSouth is expected to have over $500 million in total deposits in the Atlanta MSA. This strategic move aims to accelerate growth and improve services for clients and shareholders alike. CoastalSouth operates through Coastal States Bank, with total assets of $1.2 billion as of March 31, 2021.
Coastal States Bank (CSB) is set to open two new branches in Sandy Springs and Alpharetta in Spring 2021, enhancing its service in the Atlanta metro area. The Sandy Springs branch will occupy the former Starbucks location on Roswell Road, with renovations concluding by late May. The Alpharetta branch will be situated at Northwinds Summit off Haynes Bridge Road. CSB aims to leverage its talented team of commercial bankers in these growing communities. As of December 31, 2020, CSB reported approximately $1.15 billion in total assets.
Coastal States Bank (CSB) has appointed Eric Lowman as the new Market President for Bluffton and Beaufort. Previously with BB&T (now Truist) for 28 years, Lowman brings extensive experience in community banking. CSB's President and CEO, Steve Stone, expressed enthusiasm for Lowman’s local commitment and client focus. As of December 31, 2020, CSB reported approximately $1.15 billion in total assets, serving several communities across South Carolina and Georgia. CSB is a subsidiary of CoastalSouth Bancshares, Inc. (OTCQX: COSO).