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.
Positive
None.
Negative
None.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
CoastalSouth Bancshares, Inc.
(Name of Issuer)
Voting Common Stock, $1.00 par value per share
(Title of Class of Securities)
19058X207
(CUSIP Number)
07/01/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
19058X207
1
Names of Reporting Persons
EJF Capital LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
930,171.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
930,171.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
930,171.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
8.5 %
12
Type of Reporting Person (See Instructions)
IA
Comment for Type of Reporting Person: Based on 10,448,892 shares of voting common stock, par value $1.00 per share ("Voting Common Stock") outstanding as of September 30, 2025, as reported by the CoastalSouth Bancshares, Inc. (the "Issuer") in its Form 10-Q filed with the U.S. Securities and Exchange Commission ("SEC") on November 7, 2025, plus 438,427 shares of Non-Voting Common Stock that EJF Sidecar Fund, Series LLC - Small Financial Equities Series has the right to convert within 60 days, on a one-for-one basis, into shares of Voting Common Stock. See Item 4.
SCHEDULE 13G
CUSIP No.
19058X207
1
Names of Reporting Persons
Emanuel J. Friedman
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
930,171.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
930,171.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
930,171.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
8.5 %
12
Type of Reporting Person (See Instructions)
IN
Comment for Type of Reporting Person: Based on 10,448,892 shares of Voting Common Stock outstanding as of September 30, 2025, as reported by the Issuer in its Form 10-Q filed with the SEC on November 7, 2025, plus 438,427 shares of Non-Voting Common Stock that EJF Sidecar Fund, Series LLC - Small Financial Equities Series has the right to convert within 60 days, on a one-for-one basis, into shares of Voting Common Stock. See Item 4.
SCHEDULE 13G
CUSIP No.
19058X207
1
Names of Reporting Persons
Neal J. Wilson
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
930,171.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
930,171.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
930,171.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
8.5 %
12
Type of Reporting Person (See Instructions)
IN
Comment for Type of Reporting Person: Based on 10,448,892 shares of Voting Common Stock outstanding as of September 30, 2025, as reported by the Issuer in its Form 10-Q filed with the SEC on November 7, 2025, plus 438,427 shares of Non-Voting Common Stock that EJF Sidecar Fund, Series LLC - Small Financial Equities Series has the right to convert within 60 days, on a one-for-one basis, into shares of Voting Common Stock. See Item 4.
SCHEDULE 13G
CUSIP No.
19058X207
1
Names of Reporting Persons
EJF Sidecar Fund, Series LLC - Small Financial Equities Series
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
737,495.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
737,495.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
737,495.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
6.8 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: Based on 10,448,892 shares of Voting Common Stock outstanding as of September 30, 2025, as reported by the Issuer in its Form 10-Q filed with the SEC on November 7, 2025, plus 438,427 shares of Non-Voting Common Stock that EJF Sidecar Fund, Series LLC - Small Financial Equities Series has the right to convert within 60 days, on a one-for-one basis, into shares of Voting Common Stock. See Item 4.
SCHEDULE 13G
CUSIP No.
19058X207
1
Names of Reporting Persons
EJF Financial Services Fund, LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
192,676.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
192,676.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
192,676.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
1.8 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person: Based on 10,448,892 shares of Voting Common Stock outstanding as of September 30, 2025, as reported by the Issuer in its Form 10-Q filed with the SEC on November 7, 2025. See Item 4.
SCHEDULE 13G
CUSIP No.
19058X207
1
Names of Reporting Persons
EJF Financial Services GP, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
192,676.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
192,676.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
192,676.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
1.8 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: Based on 10,448,892 shares of Voting Common Stock outstanding as of September 30, 2025, as reported by the Issuer in its Form 10-Q filed with the SEC on November 7, 2025. See Item 4.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
CoastalSouth Bancshares, Inc.
(b)
Address of issuer's principal executive offices:
400 GALLERIA PKWY, Suite 1900, ATLANTA, Georgia, 30339
Item 2.
(a)
Name of person filing:
This Schedule 13G is being filed on behalf of the following persons (the "Reporting Persons")*:
(i) - EJF Capital LLC;
(ii) - Emanuel J. Friedman;
(iii) - Neal J. Wilson
(iv) - EJF Sidecar Fund, Series LLC - Small Financial Equities Series ("Sidecar SFES");
(v) - EJF Financial Services Fund, LP (the "Financial Services Fund"); and
(vi) - EJF Financial Services GP, LLC.
*Attached as Exhibit A is a copy of an agreement among the Reporting Persons that this Schedule 13G is being filed on behalf of each of them.
(b)
Address or principal business office or, if none, residence:
The address of the principal business office of each Reporting Person is:
2107 Wilson Boulevard
Suite 410
Arlington, VA 22201
(c)
Citizenship:
See Item 4 of the attached cover pages.
(d)
Title of class of securities:
Voting Common Stock, $1.00 par value per share
(e)
CUSIP No.:
19058X207
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
See Item 9 of the attached cover pages.
(b)
Percent of class:
See Item 11 of the attached cover pages.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
See Item 5 of the attached cover pages.
(ii) Shared power to vote or to direct the vote:
See Item 6 of the attached cover pages.
(iii) Sole power to dispose or to direct the disposition of:
See Item 7 of the attached cover pages.
(iv) Shared power to dispose or to direct the disposition of:
See Item 8 of the attached cover pages.
Each of Sidecar SFES and the Financial Services Fund is the beneficial owner of the number of shares of Voting Common Stock shown on Item 9 of their respective cover pages.
EJF Financial Services GP, LLC is the general partner of the Financial Services Fund and an investment manager of certain affiliates thereof and may be deemed to share beneficial ownership of the shares of Voting Common Stock of which the Financial Services Fund is the beneficial owner.
EJF Capital LLC is the managing member of Sidecar SFES (and the investment manager of an affiliate thereof) and the sole member of EJF Financial Services GP, LLC, and may be deemed to share beneficial ownership of the shares of Voting Common Stock of which such entities may share beneficial ownership.
Emanuel J. Friedman and Neal J. Wilson, as the members and managers of EJF Capital LLC, may be deemed to share beneficial ownership of the shares of Voting Common Stock over which EJF Capital LLC may share beneficial ownership.
Item 5.
Ownership of 5 Percent or Less of a Class.
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
Not Applicable
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
EJF Capital LLC
Signature:
/s/ Thomas Davidson
Name/Title:
Thomas Davidson, General Counsel
Date:
11/13/2025
Emanuel J. Friedman
Signature:
/s/ Emanuel J. Friedman
Name/Title:
Emanuel J. Friedman
Date:
11/13/2025
Neal J. Wilson
Signature:
/s/ Neal J. Wilson
Name/Title:
Neal J. Wilson
Date:
11/13/2025
EJF Sidecar Fund, Series LLC - Small Financial Equities Series
Signature:
/s/ Thomas Davison
Name/Title:
EJF CAPITAL LLC, Its Managing Member, By: Thomas Davison, General Counsel
Date:
11/13/2025
EJF Financial Services Fund, LP
Signature:
/s/ Thomas Davison
Name/Title:
EJF FINANCIAL SERVICES GP, LLC, Its General Partner, By: EJF CAPITAL LLC, Its Sole Member, By: Thomas Davison, General Counsel
Date:
11/13/2025
EJF Financial Services GP, LLC
Signature:
/s/ Thomas Davison
Name/Title:
EJF CAPITAL LLC, Its Sole Member, By: Thomas Davison, General Counsel
EJF Capital and affiliates reported beneficial ownership of 930,171 shares, representing 8.5% of CoastalSouth Bancshares’ Voting Common Stock.
How are voting and dispositive powers allocated?
The reporting persons have shared voting and dispositive power over 930,171 shares and no sole power.
What are the holdings of EJF Sidecar Fund related to COSO?
EJF Sidecar Fund, Series LLC - Small Financial Equities Series reported 737,495 shares, or 6.8% of the class.
What are the holdings of EJF Financial Services Fund, LP in COSO?
EJF Financial Services Fund, LP reported 192,676 shares, or 1.8% of the class.
What share count did the percentage ownership calculations use?
Percentages are based on 10,448,892 Voting Common shares outstanding as of September 30, 2025 plus 438,427 Non-Voting shares convertible within 60 days.
When is the stated date of the event requiring the filing?
The filing lists the event date as 07/01/2025.
Which form was filed and what does it indicate?
A Schedule 13G was filed, indicating a passive beneficial ownership position as reported by the filers.
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