CoastalSouth Bancshares, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 09, 2022
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CoastalSouth Bancshares, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported net interest income was USD 13.66 million compared to USD 9.68 million a year ago. Net income was USD 3.68 million compared to USD 3.27 million a year ago. Basic earnings per share from continuing operations was USD 0.42 compared to USD 0.41 a year ago. Diluted earnings per share from continuing operations was USD 0.42 compared to USD 0.4 a year ago.
For the six months, net interest income was USD 25.49 million compared to USD 19.4 million a year ago. Net income was USD 7.43 million compared to USD 6.35 million a year ago. Basic earnings per share from continuing operations was USD 0.86 compared to USD 0.79 a year ago. Diluted earnings per share from continuing operations was USD 0.84 compared to USD 0.78 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.