CoastalSouth Bancshares, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2021
March 07, 2022
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CoastalSouth Bancshares, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2021. For the fourth quarter, the company reported net interest income was USD 11.74 million compared to USD 9.74 million a year ago. Net income was USD 2.72 million compared to USD 1.71 million a year ago. Basic earnings per share from continuing operations was USD 0.31 compared to USD 0.21 a year ago. Diluted earnings per share from continuing operations was USD 0.31 compared to USD 0.21 a year ago.
For the full year, net interest income was USD 41.25 million compared to USD 31.91 million a year ago. Net income was USD 12.32 million compared to USD 6.37 million a year ago. Basic earnings per share from continuing operations was USD 1.51 compared to USD 0.8 a year ago. Diluted earnings per share from continuing operations was USD 1.48 compared to USD 0.8 a year ago.
CoastalSouth Bancshares, Inc. is a bank holding company. The Companyâs subsidiary is Coastal States Bank (CSB). CSB operates retail banking branches in Beaufort County, South Carolina, Chatham County, Georgia, Dawson County, Georgia, Fulton, County, Georgia and Forsyth County, Georgia. CSB has a community bank presence in the Lowcountry of South Carolina (Hilton Head Island and Bluffton), Savannah, and Atlanta. It provides a full range of banking services designed for businesses, their owners, and individuals looking for a local banking partner. Its services include digital banking, debit cards, e-statements and notices, loan payments and telephone banking. CSBâs wholly owned subsidiary, Coastal States Mortgage, Inc. (CSM), a mortgage company focused on originating and selling residential mortgages to investors. CSB also serves communities across the country through its government guaranteed lending, senior housing, mortgage banker finance, and marine lending lines of business.