Hilton Head, SC, January 8, 2026
CoastalSouth Bancshares, Inc., the holding company for Coastal States Bank, has successfully completed its initial public offering and is now listed on the New York Stock Exchange. This milestone showcases the potential for local businesses to drive economic growth in Hilton Head and Beaufort County. CoastalSouth’s IPO, raising $43.75 million, highlights the importance of community banking and private investment in sustaining job creation and entrepreneurial spirit in the region.
Hilton Head, SC
Coastal States Bank’s Holding Company Rings NYSE Bell, Signals Economic Growth
CoastalSouth Bancshares, Inc., the holding company for the locally founded Coastal States Bank, recently celebrated its initial public offering and listing on the New York Stock Exchange. This significant milestone not only underscores a story of entrepreneurial determination but also highlights the potential for private investment and resilient local businesses to drive Hilton Head economic growth and strengthen the overall Beaufort County economy.
The achievement reflects years of strategic development and a commitment to community-centric banking. Such success stories are vital for regional prosperity, demonstrating how a supportive environment for Hilton Head small business and South Carolina SC entrepreneurs can lead to broader economic opportunities and sustained job creation.
Uplisting to the NYSE: A New Chapter for CoastalSouth Bancshares
CoastalSouth Bancshares, Inc., the Georgia corporation serving as the bank holding company for Coastal States Bank, officially launched its initial public offering (IPO) on July 1, 2025. The company announced the pricing of 2,035,000 shares of its common stock at $21.50 per share. Of these, 1,700,000 shares were sold by CoastalSouth, with an additional 335,000 shares sold by certain existing shareholders.
The shares began trading on the New York Stock Exchange (NYSE) under the ticker symbol “COSO” on July 2, 2025, marking the holding company’s transition from the OTCQX Best Market to a major national exchange. The closing of the offering was anticipated on July 3, 2025. This uplisting is expected to enhance visibility and expand the investor base for the company.
To celebrate this significant corporate milestone, CoastalSouth Bancshares, Inc. held an opening bell ceremony at the New York Stock Exchange on January 7, 2026. The ceremony was led by Chairman Jim MacLeod and President and Chief Executive Officer Stephen R. Stone, accompanied by members of the company’s board of directors and senior leadership. The IPO raised $43.75 million in primary capital for CoastalSouth, which the company intends to use primarily for working capital and general corporate purposes, including supporting organic growth, funding strategic acquisitions, enabling branch expansion, and repaying indebtedness.
From Local Roots to Broad Reach: The Coastal States Bank Journey
Coastal States Bank’s story began in 2004 when it first opened its doors in Hilton Head Island, South Carolina, establishing itself as southern Beaufort County‘s only locally-owned bank. The founders envisioned a relationship-based bank, staffed by local individuals serving their neighbors and friends.
The bank demonstrated resilience, successfully navigating challenging economic periods. A pivotal moment in its growth trajectory was a recapitalization in 2017, which injected $62.0 million in common equity into the bank. This effort was led by Stephen Stone, President and CEO, and Tony Valduga, Chief Financial Officer and Chief Operating Officer, alongside institutional investors. This strategic move strengthened the bank’s capital position and laid the groundwork for further expansion.
Since its founding, Coastal States Bank has strategically expanded its community banking presence across the Lowcountry of South Carolina, including Hilton Head Island, Bluffton, and Beaufort, as well as into Savannah, Georgia, and the Atlanta Metropolitan market. Beyond its regional footprint, the bank also serves communities nationwide through specialized lending divisions, including Government Guaranteed Lending, Senior Housing, Correspondent Marine Lending, and Mortgage Banker Finance. As of January 2026, Coastal States Bank operates with approximately $2.3 billion in total assets.
Fueling Local Prosperity: Impact on Hilton Head SC Business and Beyond
Coastal States Bank plays a significant role in fostering Hilton Head economic growth and bolstering the broader Beaufort County economy. By offering a comprehensive range of commercial, consumer, and mortgage banking products and services, the bank supports diverse financial needs within the community. This includes tailored solutions for Hilton Head small business and dedicated support for South Carolina SC entrepreneurs, providing the capital and services essential for their growth and success.
The bank currently maintains 11 branches across Georgia and South Carolina. In Beaufort County, Coastal States Bank held 15.3% of the local deposit market share as of June 30, 2023, ranking second among 20 institutions. Local economic development officials have noted that Coastal States Bank is actively involved in local economic development initiatives and effectively addresses the business credit needs within the area.
The bank’s strategic growth, including its expansion into new markets and specialized lending areas, demonstrates a commitment to facilitating economic vitality. This expansion allows local businesses and individuals to access a wider array of financial tools, contributing to job creation and sustainable economic development.
The Entrepreneurial Spirit: A Model for Growth
The journey of Coastal States Bank from a local institution in Hilton Head to a publicly traded entity on the NYSE exemplifies the power of entrepreneurial innovation. Its success underscores the vision of its founders and leadership team, who identified a market need for relationship-based banking and steadily built a robust financial institution. This type of organic growth, fueled by private enterprise and strategic leadership, is a cornerstone of a dynamic economy.
The IPO itself is a testament to confidence in the bank’s business model and future prospects. Access to public markets provides a deeper pool of capital, which can be instrumental for businesses looking to scale, innovate, and expand their services. Such capital infusion, distinct from government intervention, empowers companies to pursue ambitious growth strategies, ultimately benefiting the communities they serve through increased investment and opportunity. The ability to access private capital markets efficiently is a significant advantage for businesses aiming for long-term sustainability and growth.
Community Roots and Future Horizons
Despite its expansion and new public listing, Coastal States Bank has reiterated its commitment to its community banking roots. The bank established the Coastal States Community Commitment in November 2017, in partnership with the Community Foundation of the Lowcountry. This fund aims to strengthen and enhance local communities through grants and employee volunteerism programs, addressing diverse charitable efforts and local needs.
Looking forward, Coastal States Bank anticipates continued growth within the Lowcountry region. This includes plans for additional brick-and-mortar locations, expanding its network, and recruiting new commercial bankers. The bank’s leadership foresees growth opportunities extending as far north as Charleston. The opening bell ceremony on January 7, 2026, not only celebrated the company’s progress but also reaffirmed its dedication to its clients, team members, shareholders, and communities across Georgia, South Carolina, and the nation.
Conclusion
The recent initial public offering and NYSE listing of CoastalSouth Bancshares, Inc., the holding company for Coastal States Bank, represents a remarkable achievement that resonates throughout the Beaufort County economy and beyond. Originating from Hilton Head Island, South Carolina, Coastal States Bank has grown into a significant financial institution, exemplifying the strength of local entrepreneurship and the positive impact of strategic private investment. This milestone not only offers expanded resources for the bank’s continued growth but also reinforces its long-standing commitment to the communities it serves. By supporting Hilton Head small business and facilitating access to capital for South Carolina SC entrepreneurs, Coastal States Bank continues to be a cornerstone of regional prosperity. Readers are encouraged to recognize and support the local businesses and innovative enterprises that contribute to the ongoing economic vibrancy of Hilton Head and the wider Lowcountry region.
Frequently Asked Questions (FAQ)
- What is CoastalSouth Bancshares, Inc.?
- CoastalSouth Bancshares, Inc. is a Georgia corporation that serves as the bank holding company for Coastal States Bank, a South Carolina state-chartered commercial bank.
- When did CoastalSouth Bancshares, Inc. go public?
- CoastalSouth Bancshares, Inc. priced its initial public offering (IPO) on July 1, 2025, and its shares began trading on the New York Stock Exchange (NYSE) under the ticker symbol “COSO” on July 2, 2025.
- What was the IPO price for CoastalSouth Bancshares, Inc. shares?
- The initial public offering price for CoastalSouth Bancshares, Inc. common stock was $21.50 per share.
- What is the total asset size of Coastal States Bank?
- As of January 2026, Coastal States Bank operates with approximately $2.3 billion in total assets.
- What regions does Coastal States Bank serve?
- Coastal States Bank has a community banking presence in the Lowcountry of South Carolina (Hilton Head Island, Bluffton, and Beaufort), Savannah, Georgia, and the Atlanta Metropolitan market. It also serves communities nationwide (Nationwide scope) through specialized lending divisions.
Key Features of CoastalSouth Bancshares, Inc. IPO and NYSE Listing
| Feature | Detail | Scope |
|---|---|---|
| Holding Company Name | CoastalSouth Bancshares, Inc. | State-level (Georgia corporation, holding company for South Carolina bank) |
| Subsidiary Bank | Coastal States Bank | State-level (South Carolina state-chartered) |
| IPO Pricing Date | July 1, 2025 | Nationwide |
| NYSE Listing Date | July 2, 2025 | Nationwide |
| NYSE Ticker Symbol | COSO | Nationwide |
| Initial Offering Price | $21.50 per share | Nationwide |
| Shares Offered (Total) | 2,035,000 shares | Nationwide |
| Capital Raised by CoastalSouth (Primary) | $43.75 million | Nationwide |
| Opening Bell Ceremony | January 7, 2026 | Nationwide |
| Total Assets (Coastal States Bank) | Approximately $2.3 billion (as of January 2026) | Nationwide |
| Community Banking Presence | Lowcountry of South Carolina (Hilton Head Island, Bluffton, Beaufort), Savannah, GA, Atlanta Metropolitan market | State-level (SC and GA) |
| Specialized Lending Divisions | Government Guaranteed Lending, Senior Housing, Correspondent Marine Lending, Mortgage Banker Finance | Nationwide |
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Author: STAFF HERE HILTON HEAD
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