Coastal Carolina Bancshares, Inc. Reports Unaudited Financial Results for the Second Quarter and Six Months Ended June 30, 2020
July 29, 2020 at 12:21 pm
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Coastal Carolina Bancshares, Inc. reported unaudited financial results for the second quarter and six months ended June 30, 2020. The Company reported net income of $1,441,677 or $0.23 per share for the six months ended June 30, 2020, compared to $1,125,445 or $0.18 per share, for the same period ended June 30, 2019, representing a 28% increase.
Net income for the three months ended June 30, 2020, was $678,943 or $0.11 per share, compared to $638,547 or $0.10 per share for the same period one year ago. Net interest income increased 23% to $4.3 million for the quarter ended June 30, 2020, compared to $3.5 million for the prior year's second quarter ended June 30, 2019.
Coastal Carolina Bancshares, Inc. is the bank holding company of Coastal Carolina National Bank (the Bank). The Bank is a nationally chartered commercial bank. The Bank is a locally operated financial institution focused on providing personalized service. The principal business activity of the Bank is to provide banking services to domestic markets, principally in Horry, Georgetown, Aiken, Richland, Greenville, Spartanburg, and Brunswick (NC) counties. The Bank offers a range of banking services designed to meet the specific needs of individuals and small and medium-sized businesses. The Bankâs loan portfolio consists of loans to individuals and businesses for various personal and commercial purposes primarily in its respective markets. The Bankâs loan portfolio includes construction and land development, real estate-residential, real estate-non-residential, commercial and industrial, and consumer and other. The Bank also has branches in Garden City, North Myrtle Beach, and others.
COASTAL CAROLINA BANCSHARES, INC. 