CoastalSouth Bancshares, Inc. filings document the public-company disclosures of a bank holding company whose wholly owned subsidiary is Coastal States Bank. Recent Form 8-K reports furnish quarterly operating results, financial-condition updates, investor presentation materials under Regulation FD, and board-authorized capital actions such as common-stock repurchase programs.
The company's proxy and governance filings cover annual shareholder meeting matters, director elections, auditor ratification, board appointments and director departures. These records also disclose share-voting outcomes, committee-related governance information, and related-party banking relationships when they are material to board independence or Regulation S-K disclosure.
CoastalSouth Bancshares, Inc. reported higher profitability and modest balance sheet growth for the three months ended March 31, 2026. Net income rose to $6.3 million, with basic EPS of $0.53, helped by stronger net interest income and lower interest expense.
Total assets increased to $2.35 billion, driven by growth in loans held for sale and investment securities. Deposits reached $2.06 billion, while other borrowings were fully repaid. Credit quality remained stable, with an allowance for credit losses on loans of $18.8 million and nonaccrual loans of $18.2 million.
CoastalSouth Bancshares CFO and COO Anthony P. Valduga reported several changes in his CoastalSouth Bancshares, Inc. holdings. He sold 4,558 shares of common stock in an open-market sale at $25.84 per share and made a bona fide gift of 2,000 shares. Following these transactions, he directly holds 86,115 common shares and indirectly holds 2,500 shares through a spouse IRA and 27,924 shares through his own IRA.
Patriot Financial group amended a Schedule 13G to report ownership changes in CoastalSouth Bancshares, Inc. The filing states that Patriot Financial Partners II, L.P. and Patriot Financial Partners Parallel II, L.P. sold an aggregate 600,000 shares of Voting Common Stock at $25.00 per share on April 29, 2026, and that 132,156 shares of non‑voting common stock were converted into Voting Common Stock on April 30, 2026.
The cover data shows shared voting/dispositive holdings of 691,367 shares for several related reporting persons (approximately 5.8%) and a stated shares outstanding figure of 11,853,258 shares as of March 31, 2026 used to calculate percentages.
CoastalSouth Bancshares, Inc. announced that its Board of Directors has authorized a new stock repurchase plan, called the 2026 Repurchase Plan. Under this plan, the company may buy back up to $15 million of its common stock.
The plan becomes effective on May 1, 2026, and will run through April 30, 2027, unless the Board extends it. Repurchases may occur in the open market, through accelerated share repurchase programs, privately negotiated transactions, or other methods that comply with Rule 10b-18. The company may also use a Rule 10b5-1 trading plan to continue repurchases during blackout periods. The program is discretionary and does not require the company to repurchase a specific amount of stock.
CoastalSouth Bancshares, Inc. President and CEO Stephen R. Stone reported routine equity compensation activity involving restricted stock units. On April 27, 2026, 17,000 restricted stock units converted into the same number of common shares, reflecting a derivative exercise.
On the same date, 5,022 common shares were disposed of as a tax-withholding disposition at $25.59 per share, used to cover exercise price or tax liabilities rather than an open-market sale. After these transactions, Stone directly owned 132,363 common shares and indirectly held 4,830 shares through an IRA.
CoastalSouth Bancshares, Inc. chief accounting officer Lauren M. Hemby exercised 4,000 Restricted Stock Units into an equal number of common shares on 2026-04-27. The RSUs converted into common stock on a one-for-one basis.
To cover tax obligations, 1,181 common shares were disposed of through a tax-withholding transaction at $25.59 per share, which is not an open-market sale. After these compensation-related transactions, Hemby directly holds 14,250 common shares and no remaining RSUs from this award.
CoastalSouth Bancshares CFO and COO Anthony P. Valduga reported compensation-related equity activity involving the company’s common stock. He exercised 13,000 restricted stock units, which converted into the same number of common shares on a one-for-one basis.
To cover tax obligations, 3,841 shares were disposed of through a tax-withholding transaction at $25.59 per share, rather than sold in the open market. Following these transactions, he directly holds 90,673 common shares and indirectly holds additional shares through a spouse IRA (2,500 shares) and a personal IRA (27,924 shares).
CoastalSouth Bancshares, Inc. chief credit officer Cameron Bradley reported routine equity compensation activity involving restricted stock units and related tax withholding. Restricted stock units converted into 4,000 shares of common stock on a one-for-one basis, increasing his direct share ownership.
To cover tax obligations, 1,169 shares of common stock were disposed of through a tax-withholding transaction at $25.59 per share, a non-market sale mechanism. Following these transactions, Bradley directly holds 8,831 shares of common stock and indirectly holds 7,925 shares through an IRA.
CoastalSouth Bancshares, Inc. reported the results of its 2026 Annual Meeting of Shareholders. Of 11,853,258 common shares outstanding as of the record date, 8,894,030 shares were represented, meaning 75.79% of eligible shares were present in person or by proxy, establishing a quorum.
Shareholders elected eleven directors to one-year terms ending at the 2027 annual meeting. Support varied by nominee, with votes for ranging from 5,927,906 to 7,846,482 and broker non-votes of 1,132,351 for each director. Shareholders also ratified the appointment of Elliott Davis, LLC as independent registered public accounting firm for the fiscal year ending December 31, 2026, with 8,979,430 votes for and 4,600 against.
CoastalSouth Bancshares, Inc. reported first quarter 2026 net income of $6.3 million, or $0.51 per diluted share, down from $7.1 million ($0.58) in the prior quarter but up from $5.1 million ($0.47) a year earlier. Net interest income was $19.7 million with a net interest margin of 3.59%, essentially flat sequentially and higher than the prior year. Total assets reached $2.35 billion and total deposits rose to $2.06 billion, driven by $117.9 million growth in core deposits while brokered certificates of deposit fell $48.4 million. Loans held for investment grew modestly to $1.63 billion, supported by $166.7 million in new production.
Asset quality remained strong, with net charge-offs at 0.01% of average loans and nonperforming assets at 0.77% of total assets; the allowance for credit losses on loans was 1.16% of loans and covered nonperforming loans by 103.54%. Book value per share increased to $21.94 and tangible book value per share to $21.52. The board declared a quarterly cash dividend of $0.05 per share, payable May 28, 2026 to shareholders of record as of May 14, 2026.