Charleston, SC, January 19, 2026

Coastal States Bank has announced its strategic expansion into the Charleston market, establishing a new commercial banking team focused on supporting local entrepreneurs and businesses. Headquartered in Hilton Head, the bank aims to foster economic growth in the Lowcountry by providing personalized financial services tailored to the needs of small and mid-sized enterprises. This expansion not only reinforces CSB’s commitment to regional development but also indicates a significant investment in the local economy.

Charleston Welcomes Coastal States Bank’s New Commercial Team

Hilton Head-based Coastal States Bank expands its Lowcountry footprint, bringing a relationship-driven approach to Charleston’s thriving business sector.

Charleston, S.C. – The vibrant economic landscape of the Lowcountry continues to attract strategic investments, as evidenced by Coastal States Bank (CSB), a community institution headquartered on Hilton Head Island, announcing its expansion into the Charleston market. This move represents a significant commitment to the region’s economic vitality, building on more than two decades of service in Beaufort County. For local entrepreneurs and growing businesses, the entry of a relationship-focused bank can be a catalyst, offering personalized financial solutions that are essential for innovation and sustained growth.

Such expansions underscore the dynamism inherent in a flourishing market, highlighting the determination of South Carolina’s entrepreneurs and the private sector’s role in fostering prosperity. With a clear vision for growth and an emphasis on local expertise, Coastal States Bank’s initiative aligns with the principles of fostering robust local economies, where financial institutions are responsive partners in progress. This investment comes on the heels of the bank’s initial public offering and listing on the New York Stock Exchange in July 2025, marking a strategic chapter in its development.

Strategic Expansion for South Carolina Growth

Coastal States Bank, established as a local community bank, is making a deliberate stride into Charleston, deepening its presence within the economically significant Lowcountry region. Headquartered on Hilton Head Island, CSB has a history of serving clients across Beaufort County for over 20 years. The bank also maintains a community banking presence in other parts of the Lowcountry of South Carolina, including Bluffton and Beaufort, as well as in Savannah and the Atlanta Metropolitan market. Additionally, it serves communities across the country through its specialized Government Guaranteed Lending, Senior Housing, Correspondent Marine, and Mortgage Banker Finance lines of business. This expansion into Charleston is positioned as a natural progression, reinforcing the bank’s long-standing investment in the area and its commitment to regional economic development. With approximately $2.3 billion in total assets, CSB operates as a wholly-owned subsidiary of CoastalSouth Bancshares, Inc. (NYSE: COSO).

Introducing Charleston’s New Commercial Banking Leaders

To support its new venture in Charleston, Coastal States Bank has assembled a locally based commercial banking team, bringing extensive experience to businesses throughout Charleston and the broader Lowcountry market. Edward Vaughan will lead this team as Charleston Market President. He is joined by David Wenger, Senior Commercial Banker, and Thomas Pritchard, Commercial Banker. This team collectively offers more than 50 years of banking experience. Their primary focus will be on cultivating deposit and loan relationships through various services, including C&I lending, commercial real estate lending, and treasury management, catering specifically to the needs of small and mid-sized businesses. The bank’s leadership emphasized that the Charleston market values relationships, local expertise, and trust, values that are central to Coastal States Bank’s operational philosophy.

The Enduring Power of Localized Banking

Community banks like Coastal States Bank play a crucial role in supporting the economic and social foundations of local communities. Unlike larger national or international institutions, community banks operate on a smaller scale, fostering a closer connection with the individuals and businesses they serve. This local focus allows them to provide a unique set of benefits, contributing significantly to the health and vitality of their communities. Community banks are instrumental in local economic support, typically reinvesting a substantial portion of their deposits back into the local area through loans to small businesses, farms, and individuals. This practice is particularly beneficial for Hilton Head small business owners and South Carolina SC entrepreneurs, as community banks often demonstrate greater flexibility in lending, offering personalized assessments of a business’s potential rather than relying solely on rigid criteria. This personalized approach helps local businesses start and grow, leading to job creation and broader economic growth. Furthermore, regional banks are vital to economic growth, serving as the source of nearly one-third of small business bank lending Nationwide. They drive business and economic growth Nationwide.

Fostering Entrepreneurial Spirit in a Dynamic Market

Charleston’s business community is characterized by its diversity, entrepreneurial spirit, and deep connection to the region. In such a dynamic and competitive market, the presence of a bank committed to a relationship-driven model can make a substantial difference. While the overall pool of deposits in Charleston saw a shrinkage in the 12 months ending June 30, 2023, some banks still managed significant growth, underscoring the importance of tailored services and strong client relationships. Coastal States Bank’s approach, combining local insight with comprehensive financial resources, aims to empower businesses to succeed within this environment. This commitment to understanding and meeting specific regional economic needs, from the Beaufort County economy to broader Hilton Head economic growth initiatives, is a cornerstone of effective community banking.

Community Commitment Beyond Traditional Banking

Beyond its core banking services, Coastal States Bank demonstrates a commitment to the communities it serves through its philanthropic efforts. In November 2017, the bank established the Coastal States Community Commitment, a charitable fund created in partnership with the Community Foundation of the Lowcountry. The mission of this commitment is to strengthen and enhance the communities served by Coastal States Bank and its affiliates through grants and employee volunteerism programs. These initiatives support a diverse range of charitable efforts that address local community needs and opportunities, with grant requests reviewed on a quarterly basis. This dedication to community involvement illustrates how private enterprises can significantly contribute to the social fabric and overall well-being of a region, extending their positive impact beyond purely financial transactions and fostering a more engaged local population.

The expansion of Coastal States Bank into Charleston marks a significant development for the Lowcountry’s economic future. By focusing on personalized commercial banking services and a deep understanding of local business needs, the bank is poised to support the region’s entrepreneurial drive. This move not only signifies an investment in Charleston’s growing economy but also reinforces the vital role that community-focused financial institutions play in fostering resilience and innovation across South Carolina. Residents and businesses are encouraged to explore how local banking partnerships can contribute to their success and to remain engaged in the ongoing narrative of Hilton Head SC business and economic advancement.

Frequently Asked Questions

What is Coastal States Bank’s expansion into Charleston about?

Coastal States Bank (CSB), headquartered on Hilton Head Island, announced its expansion into the Charleston market on January 19, 2026. This move continues CSB’s growth in the Lowcountry, where it has served clients in Beaufort County for more than 20 years.

Who are the key members of the new commercial banking team in Charleston?

The new locally based commercial banking team includes Edward Vaughan as Charleston Market President, David Wenger as Senior Commercial Banker, and Thomas Pritchard as Commercial Banker. Together, they bring more than 50 years of combined banking experience.

What services will the Charleston commercial banking team focus on?

The team will focus on developing deposit and loan relationships through C&I lending, commercial real estate lending, and treasury management services for small and mid-sized businesses.

What is the Coastal States Community Commitment?

In November 2017, Coastal States Bank established the Coastal States Community Commitment, a charitable fund in partnership with the Community Foundation of the Lowcountry. Its mission is to strengthen and enhance the communities served by Coastal States Bank through grants and employee volunteerism programs, supporting diverse charitable efforts addressing local community needs.

What is the total asset size of Coastal States Bank?

Coastal States Bank has approximately $2.3 billion in total assets. CSB is a wholly-owned subsidiary of CoastalSouth Bancshares, Inc. (NYSE: COSO).

Key Features of Coastal States Bank’s Charleston Expansion

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Author: STAFF HERE HILTON HEAD

The HILTON HEAD STAFF WRITER represents the experienced team at HEREHiltonHead.com, your go-to source for actionable local news and information in Hilton Head Island, Beaufort County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the RBC Heritage golf tournament, Hilton Head Island Wine & Food Festival, and the Gullah Celebration. Our coverage extends to key organizations like the Hilton Head Island-Bluffton Chamber of Commerce and Community Foundation of the Lowcountry, plus leading businesses in tourism and hospitality that power the local economy such as Sea Pines Resort and Sonesta Resort Hilton Head Island. As part of the broader HERE network, including HEREAiken.com, HEREBeaufort.com, HEREChapin.com, HERECharleston.com, HEREClinton.com, HEREColumbia.com, HEREGeorgetown.com, HEREGreenwood.com, HEREGreenville.com, HEREHiltonHead.com, HEREIrmo.com, HEREMyrtleBeach.com, HERENewberry.com, HERERockHill.com, and HERESpartanburg.com, we provide comprehensive, credible insights into South Carolina's dynamic landscape.