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CoastalSouth Bancshares, Inc. reported that director Boris Gutin has resigned from its Board of Directors, effective November 19, 2025. He was originally designated to the Board by GCP Capital Partners and its related funds, which invested in the company’s 2017 recapitalization.
The company explains that, following its recent initial public offering and consistent with GCP’s customary practice of not having representatives serve on public company boards, Mr. Gutin determined this was an appropriate time to step down. He expressed strong support for the company, its management, and the Board, and his resignation is stated to not be due to any disagreement over operations, policies, or practices.
EJF Capital LLC and affiliates filed a Schedule 13G reporting a passive stake in CoastalSouth Bancshares (COSO). The group reported beneficial ownership of 930,171 shares of Voting Common Stock, representing 8.5% of the class, with shared voting and dispositive power over 930,171 shares and no sole power. The reported event date is 07/01/2025.
The filing breaks out holdings as follows: EJF Sidecar Fund, Series LLC - Small Financial Equities Series at 737,495 shares (6.8%) and EJF Financial Services Fund, LP at 192,676 shares (1.8%). Percentages are based on 10,448,892 shares of Voting Common Stock outstanding as of September 30, 2025, plus 438,427 shares of Non-Voting Common Stock that are convertible within 60 days on a one-for-one basis into Voting Common Stock.
CoastalSouth Bancshares (COSO) reported Q3 2025 results with net income of $6.7 million and diluted EPS of $0.54. Net interest income rose to $19.2 million as interest expense eased year over year, while a $0.7 million provision for credit losses replaced a prior-year recovery. Noninterest income was $2.1 million, and noninterest expense increased to $11.9 million.
Total assets reached $2.26 billion and deposits were $1.95 billion. Loans held for investment grew to $1.55 billion, and loans held for sale were $231.6 million. Shareholders’ equity increased to $250.4 million, aided by net IPO proceeds of $31.9 million and an improved accumulated other comprehensive loss of $10.9 million. As of November 5, 2025, common shares outstanding were 11,978,921.
For the nine months, net income was $17.8 million. Operating cash flow was a use of $22.3 million and investing used $149.1 million, while financing provided $129.8 million, reflecting deposit growth, a $10.0 million net increase in FHLB borrowings, and $15.0 million repayment of subordinated debt. Available-for-sale securities totaled $335.0 million at fair value with $19.5 million in unrealized losses attributed to rate movements.
CoastalSouth Bancshares, Inc. furnished an 8‑K announcing its results of operations and financial condition for the third quarter ended September 30, 2025. The company issued a press release with these Q3 2025 results.
The earnings release is provided as Exhibit 99.1 and an investor presentation for the quarter is included as Exhibit 99.2. The information under Item 2.02 is furnished, not filed, and is not subject to Section 18 of the Exchange Act or incorporated by reference unless specifically stated.
Patriot Financial-related entities and four named individuals filed a Schedule 13G reporting beneficial ownership of CoastalSouth Bancshares, Inc. (CUSIP 19058X207). The joint filers state aggregate shared voting and dispositive power of 719,211 shares, equal to 8.87% of the Voting Common Stock based on 8,106,892 shares outstanding as of June 30, 2025. Individual reporting entities show holdings ranging from 7,900 shares (0.10%) to 711,311 shares (8.77%). The filing notes these holdings existed at the time of the issuer's initial public offering on July 1, 2025, and that the reporting persons did not acquire shares in that offering nor since then. The submission includes a joint filing agreement executed September 16, 2025.
CoastalSouth Bancshares, Inc. redeemed all of its outstanding 5.95% Fixed to Floating Rate Subordinated Notes due 2030 on September 15, 2025. These subordinated notes were originally issued with a principal amount of $15,000,000.
The notes were redeemed at 100% of their principal amount, plus any accrued and unpaid interest up to but excluding the redemption date, in line with the original terms of the notes dated September 9, 2020. This transaction removes that subordinated debt from the company’s capital structure.
CoastalSouth Bancshares, Inc. reported continued balance sheet growth and higher earnings in the first half of 2025. Total assets rose to $2.22 billion from $2.10 billion a year earlier, driven by growth in loans held for investment to $1.53 billion and loans held for sale to $209.1 million. Deposits increased to $1.97 billion, supporting loan originations and mortgage warehouse activity.
Net interest income strengthened to $34.84 million for the six months, driving pretax income of $13.62 million and net income of $11.02 million, up from $8.32 million a year earlier. Management increased the provision for credit losses to $1.38 million and the allowance for credit losses totaled $21.0 million including reserves for unfunded commitments. Investment securities had $22.3 million of unrealized losses, which management attributed to rate-related valuation changes rather than credit impairment.