Coastal Carolina Bancshares, Inc. Announces Third Quarter Results
Key Highlights
- ➤Q3 net income $3.2 million, up 8% year-over-year; adjusted income rose 16%
- ➤Merger with Beacon Holding completed October 1, creating a $2.3 billion pro forma company
- ➤Loans reached $1.004 billion, up $60 million or 6% year-to-date
- ➤Deposits increased $67 million or 6% year-to-date to $1.214 billion
- ➤Bank-level net interest margin fell to 3.50% from 3.59% in Q2
Expert Statements
Laurence S. Bolchoz, Jr., President and CEO of Coastal Carolina Bancshares, Inc. and Coastal Carolina National Bank
“The third quarter marked an important period for our Company. We generated solid earnings, continued to expand the loan portfolio, and maintained the deposit growth achieved during the first half of the year, while preparing for the completion of our merger with Beacon Holding Company, Inc. With the transaction now complete, we are focused on executing a thoughtful integration, supporting our customers and employees through the transition, and realizing the long-term opportunities of the combined organization.”
Laurence S. Bolchoz, Jr., President and CEO of Coastal Carolina Bancshares, Inc. and Coastal Carolina National Bank
“Retaining the substantial deposit inflows generated during the second quarter provided a stable funding base for continued loan growth. Deposit levels remained essentially unchanged during the quarter and increased $67 million year-to-date, while the mix of balances reflected continued progress in interest checking relationships. We believe this performance demonstrates the value of a relationship-based funding strategy and the consistent execution of our teams across the Bank.”
Laurence S. Bolchoz, Jr., President and CEO of Coastal Carolina Bancshares, Inc. and Coastal Carolina National Bank
“Net charge-offs during the quarter were concentrated in a single loan relationship with reserves established to cover the charge-off amount. We do not believe this isolated matter is indicative of broad-based deterioration within the portfolio. At quarter end, past-due loans remained limited, and the Bank held no OREO. We continue to monitor borrower performance closely and maintain a measured approach to credit administration.”
Laurence S. Bolchoz, Jr., President and CEO of Coastal Carolina Bancshares, Inc. and Coastal Carolina National Bank
“Third-quarter results demonstrate the underlying earnings capacity of the Bank. Net income excluding the after-tax effect of merger-related expenses increased 16% from the prior-year quarter, supported by higher average earning assets, continued loan growth, and increased net interest income. Although funding costs placed pressure on the net interest margin, growth in earning assets allowed us to increase net interest income and maintain solid operating performance.”
MYRTLE BEACH, SC / ACCESS Newswire / October 29, 2026 / Coastal Carolina Bancshares, Inc. (the "Company") (OTCQX:CCNB), parent of Coastal Carolina National Bank (the "Bank"), reported unaudited financial results for the third quarter of 2026.
The Company reported net income for the three months ended September 30, 2026, of $3,208,598, or $0.42 per diluted share, compared to $2,959,053, or $0.47 per diluted share, for the same period in the prior year and $2,935,412, or $0.39 per diluted share, for the prior quarter ended June 30, 2026. Net income, excluding the after-tax effect of merger expenses, totaled $3,427,398, or $0.45 per diluted share, for the three months ended September 30, 2026.
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