CoastalSouth Bancshares, Inc. (NYSE Uplisting)

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General Information
Business:

Note: This is NOT an IPO. This is an NYSE Uplisting – a public offering conducted in connection with CoastalSouth Bancshares’ uplisting to the New York Stock Exchange from the OTCQX Marketplace. Our stock trades the stock symbol “COSO” on the OTCQX Marketplace.

CoastalSouth Bancshares, Inc. is a bank holding company headquartered in Atlanta, Georgia. Through our wholly owned subsidiary, Coastal States Bank, a South Carolina state-chartered commercial bank, we offer a full range of banking products and services designed for businesses, real estate professionals, and consumers looking for a deep and meaningful relationship with their bank.

Today, we have a community banking presence in some of the fastest growing and most business-friendly markets in the U.S., namely the Low Country of South Carolina (Hilton Head Island, Bluffton, and Beaufort), nearby Savannah, Georgia, and the Atlanta, Georgia market.

In addition to our traditional community banking operations, we operate four specialty lines of business that provide scalability and diversification: 

*Senior Housing Lending – focuses on lending to operators across the spectrum of senior care, with an emphasis on assisted living;

*Marine Lending – focuses on consumer loans primarily to high-net-worth borrowers secured by yachts and high-end sport fishing vessels;

*Government Guaranteed Lending – focuses on origination of small business and other loans guaranteed by the SBA and USDA; and

*Mortgage Banker Finance – focuses on mortgage warehouse lending to mortgage originators.

By combining the relationship-based focus of a community bank with our specialty lines of business, we believe we can capitalize on the substantial growth opportunities available in our markets, particularly given the scarcity of community banks between $1.5 billion and $5.0 billion in total assets.

Note: Net income and revenue are for the 12 months that ended March 31, 2025.

(Note: CoastalSouth Bancshares priced its public offering at $21.50 – the low end of its $21.50-to-$23.50 price range – and sold 2.04 million shares (2,035,000 shares) – less than the 2.6 million shares in its S-1/A filing – to raise $43.75 million on Tuesday night, July 1, 2025. Of the 2.04 million shares in the public offering, CoastalSouth Bancshares sold 1.7 million shares and certain selling shareholders sold 335,000 shares, the prospectus said. This public offering was conducted in connection with CoastalSouth Bancshares’ uplisting to the New York Stock Exchange from the OTCQX Marketplace.)

(Background: CoastalSouth Bancshares is conducting a public offering of its stock – 2.6 million shares at a price range of $21.50 to $23.50 – to raise $59 million, according to its S-1 filing. This public offering is being conducted in connection with CoastalSouth Bancshares’ uplisting to the NYSE from the OTC Marketplace. Of the 2.6 million shares in the public offering, the company is offering 1.69 million shares and the selling stockholder is offering 910,000 shares, according to the prospectus.)
Industry: Community bank holding company
Employees: 180
Founded: 2003
Contact Information
Address 400 Galleria Parkway, Suite 1900, Atlanta, GA 30339
Phone Number (678) 396-4605
Web Address http://www.coastalstatesbank.com/
View Prospectus: CoastalSouth Bancshares, Inc. (NYSE Uplisting)
Financial Information
Market Cap $245.3mil
Revenues $72.1 mil (last 12 months)
Net Income $24.53 mil (last 12 months)
IPO Profile
Symbol COSO
Exchange NYSE
Shares (millions): 2.0
Price range $21.50 - $21.50
Est. $ Volume $43.8 mil
Manager / Joint Managers Piper Sandler/Stephens
CO-Managers
Expected To Trade: 7/2/2025
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
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