CoastalSouth Bancshares okays $15M stock buyback
CoastalSouth Bancshares, Inc. announced that its Board of Directors has authorized a new stock repurchase plan, called the 2026 Repurchase Plan.
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Rhea-AI Filing Summary
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.
Insights
CoastalSouth adds flexibility with a discretionary $15M buyback plan.
CoastalSouth Bancshares adopted the 2026 Repurchase Plan permitting repurchases of up to $15 million of common stock between May 1, 2026 and April 30, 2027. Purchases can be made via open-market trades, accelerated share repurchase programs, or privately negotiated deals under Rule 10b-18.
The plan is fully discretionary and may be extended, modified, suspended, or ended by the Board. The company may also use Rule 10b5-1 trading plans, allowing repurchases during blackout periods. Actual impact for shareholders will depend on how much of the $15 million authorization is ultimately used.
8-K Event Classification
Key Figures
Key Terms
stock repurchase plan financial
Rule 10b-18 regulatory
Rule 10b5-1 regulatory
trading blackout periods financial
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What is the effective period of CoastalSouth’s 2026 Repurchase Plan?
Is CoastalSouth required to repurchase the full $15 million of stock?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 7.01 Regulation FD Disclosure.
On May 1, 2026, CoastalSouth Bancshares, Inc. (the “Company”) issued a press release. A copy of the press released is furnished as Exhibit 99.1 to this Current Report on Form 8-K (this “Report”).
Item 8.01 Other Events.
The Company announced today that its Board of Directors has authorized a stock repurchase plan (the “2026 Repurchase Plan”), pursuant to which the Company may purchase, from time to time, up to an aggregate amount of $15.0 million of its shares of common stock. The 2026 Repurchase Plan will become effective on May 1, 2026, and will expire on April 30, 2027, unless extended by the Board.
Repurchases under the 2026 Repurchase Plan may be made from time to time in the open market, by accelerated share repurchase programs, in privately negotiated transactions, or otherwise in compliance with Rule 10b-18 of the Securities Exchange Act of 1934 (the “Exchange Act”), in each case subject to applicable regulatory requirements and other factors that may be considered by the Company in its sole discretion. Repurchases may also be made pursuant to a trading plan under Rule 10b5-1 of the Exchange Act, which would permit shares to be repurchased when the Company might otherwise be precluded from doing so because of self-imposed trading blackout periods or other regulatory restrictions. The 2026 Repurchase Program does not obligate the Company to repurchase any particular amount of common stock and may be extended, modified, amended, suspended, or discontinued by the Board at any time.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
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99.1 |
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CoastalSouth Bancshares, Inc. Press Release Dated May 1, 2026* |
104 |
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* Filed herewith.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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CoastalSouth Bancshares, Inc. |
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May 1, 2026 |
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/s/ Stephen R. Stone |
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Stephen R. Stone |
Exhibit 99.1
CoastalSouth Bancshares, Inc. Announces Stock Repurchase Plan
ATLANTA, GA (May 1, 2026) -- CoastalSouth Bancshares, Inc. (“CoastalSouth” or the “Company”) (NYSE: COSO), the holding company for Coastal States Bank (the “Bank” or "CSB"), today reported that its Board of Directors authorized a stock repurchase plan (the “2026 Repurchase Plan”), pursuant to which the Company may purchase, from time to time, up to an aggregate amount of $15 million of its shares of common stock. The 2026 Repurchase Plan will become effective on May 1, 2026, and will expire on April 30, 2027, unless extended by the Board.
Repurchases under the 2026 Repurchase Plan may be made from time to time in the open market, by accelerated share repurchase programs, in privately negotiated transactions, or otherwise in compliance with Rule 10b-18 of the Securities Exchange Act of 1934 (the “Exchange Act”), in each case subject to applicable regulatory requirements and other factors that may be considered by the Company in its sole discretion. Repurchases may also be made pursuant to a trading plan under Rule 10b5-1 of the Exchange Act, which would permit shares to be repurchased when the Company might otherwise be precluded from doing so because of self-imposed trading blackout periods or other regulatory restrictions. The 2026 Repurchase Program does not obligate the Company to repurchase any particular amount of common stock and may be extended, modified, amended, suspended, or discontinued by the Board at any time.
About CoastalSouth Bancshares, Inc.
CoastalSouth Bancshares, Inc. is a bank holding company headquartered in Atlanta, Georgia. Through our wholly owned subsidiary, Coastal States Bank, a South Carolina state-chartered commercial bank, we offer a full range of banking products and services designed for businesses, real estate professionals, and consumers looking for a deep and meaningful relationship with their bank. To learn more about Coastal States Bank, visit www.coastalstatesbank.com.
Contact
Anthony P. Valduga
Chief Financial Officer / Chief Operating Officer
678-396-4605
investorrelations@coastalstatesbank.com