CoastalSouth Bancshares, Inc. Reports Earnings for Second Quarter 2026

About this update from Castle Biosciences, Inc.

[{"type":"text","content":"\nCoastalSouth Bancshares, Inc. (“CoastalSouth” or the “Company”) (NYSE: COSO), the holding company for Coastal States Bank (the “Bank” or \"CSB\"), today reported net income of $7.3 million, or $0.59 per diluted share, for the second quarter of 2026, compared to approximately $6.3 million, or $0.51 per diluted share, for the first quarter of 2026, and $6.0 million, or $0.57 per diluted share, for the second quarter of 2025. For the six months ended June 30, 2026, the Company reported net income of $13.7 million, or $1.10 per diluted share, compared with $11.0 million, or $1.04 per diluted share, for the same period in 2025.\n\n\nAdditionally, on July 20, 2026 the Board of Directors of CoastalSouth Bancshares, Inc. declared a per share quarterly dividend of $0.05. The dividend will be paid to shareholders of record as of the close of business on August 13, 2026, the record date. The dividend shall be paid on August 27, 2026.\n\n\nCommenting on the Company’s second quarter performance, President and Chief Executive Officer Stephen R. Stone stated, \"We saw outstanding loan production2 of $181.6 million during the second quarter, driving a $78.1 million increase in loans held for investment, or 19.3% annualized. The majority of production in the second quarter continued to come from the community bank with each region, including our new Charleston team, providing meaningful contributions. We are pleased to have achieved this growth while expanding our net interest margin and maintaining low net charge-offs. We continue to see opportunities to invest in new CSB team members across our footprint particularly as a result of recent M&A activity. We are pleased with our financial results and we look forward to building upon this performance in the second half of the year.\"\n\n\nSecond Quarter 2026 Performance Highlights:\n\nNet income of $7.3 million or $0.59 per diluted share\n\n\n\nReturn on average assets (\"ROAA\") of 1.24%\n\n\n\nReturn on average equity (\"ROAE\") of 11.02%; Return on average tangible common equity1 (\"ROATCE\") of 11.23%\n\n\n\nNet interest margin of 3.66%, an increase of 7 basis points from the first quarter of 2026\n\n\n\nTotal deposits decreased $9.5 million, principally driven by a decrease of $4.8 million in core deposits1 and a decrease in brokered certificates of deposit of $4.7 million\n\n\n\nLoans ...

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