CoastalSouth Bancshares, Inc. Q2 2026 Earnings Release

CoastalSouth Bancshares, Inc. reported net income of $7.3 million, or $0.59 per diluted share, for the second quarter of 2026. This represents an increase from $6.3 million, or $0.51 per diluted share, in the first quarter of 2026, and $6.0 million, or $0.57 per diluted share, in the second quarter of 2025. For the first six months of 2026, net income was $13.7 million, or $1.10 per diluted share, up from $11.0 million, or $1.04 per diluted share, in the same period of 2025. The company also declared a quarterly dividend of $0.05 per share. Key performance highlights include a net interest margin of 3.66%, a 7 basis point increase from the previous quarter, and loans held for investment production of $181.6 million, leading to a 19.3% annualized growth in loans held for investment. Book value per share grew by 9.69% annualized to $22.47. The company repurchased 48,491 shares in the second quarter under its share repurchase program. Total assets grew to $2.42 billion, and total deposits increased by $60.0 million from the end of 2025 to $2.05 billion. Net charge-offs to average loans held for investment were 0.01%.