Charleston, SC, January 19, 2026
Coastal States Bank, a community-focused financial institution, is expanding its services into Charleston, SC. This strategic move includes establishing a locally based commercial banking team to support the growing entrepreneurial landscape. With over 50 years of combined banking experience, the new team is set to provide tailored banking solutions, reinforcing the potential for economic growth in the region. The bank’s commitment to fostering small business resilience and local investment will play a crucial role in bolstering South Carolina’s economy.
Charleston, SC
Coastal States Bank Forges New Path in Charleston, Bolstering South Carolina’s Entrepreneurial Landscape
Coastal States Bank, a community-focused financial institution headquartered on Hilton Head Island, is expanding its footprint into Charleston, a move poised to further energize the city’s robust commercial sector and reinforce the broader South Carolina economy. This strategic expansion, announced on January 19, 2026, includes the formation of a dedicated, locally based commercial banking team, underscoring a commitment to relationship-driven service and local expertise in a thriving market.
This expansion highlights the enduring spirit of entrepreneurial innovation across the Lowcountry. As local businesses continue to drive economic growth in South Carolina, the presence of a community bank like Coastal States Bank, with its emphasis on personalized solutions, can be a significant catalyst for small-business resilience and private investment. The move reflects confidence in Charleston’s dynamic economic environment and its capacity for sustained expansion.
A Foundation Built on Local Connection
Established in 2004, Coastal States Bank (CSB) originated in Hilton Head Island as southern Beaufort County’s sole locally-owned bank. The bank’s mission has consistently centered on empowering growth and financial success within its communities by fostering trusted relationships. This approach extends beyond transactional banking, aiming to serve as advocates for business owners, community leaders, and individuals. With approximately $2.3 billion in total assets, CSB has a community banking presence in the Lowcountry of South Carolina, including Hilton Head Island, Bluffton, and Beaufort, as well as Savannah and the Atlanta Metropolitan market. It also serves communities across the country through its Government Guaranteed Lending, Senior Housing, Correspondent Marine, and Mortgage Banker Finance lines of business.
Strategic Expansion into a Growing Market
The decision to expand into Charleston is a natural progression for Coastal States Bank, building upon its more than 20 years of service to clients in Beaufort County and the wider Lowcountry region. Charleston’s economy is characterized by diverse and growing industries, including aerospace, energy, automotive, life sciences, IT, and defense. The city has experienced significant business growth and economic diversification, attracting both multinational corporations and fast-growing startups. This vibrant economic landscape, coupled with a projected job growth surpassing the U.S. average, makes Charleston a high-potential market for commercial banking services. The commercial banking industry in South Carolina is projected to experience annualized growth, reaching a significant market size over the coming years.
Introducing Charleston’s Commercial Banking Team
To spearhead its Charleston operations, Coastal States Bank has assembled a locally based commercial banking team with extensive experience serving businesses throughout Charleston and the broader Lowcountry market. This team will be led by Edward Vaughan, who will serve as Charleston Market President. He is joined by David Wenger, Senior Commercial Banker, and Thomas Pritchard, Commercial Banker. Collectively, this team brings over 50 years of combined banking experience to the Charleston business community. Their focus will be on developing deposit and loan relationships through C&I lending, commercial real estate lending, and treasury management services for small and mid-sized businesses.
The emphasis on a local team aligns with Coastal States Bank’s relationship-driven model, which values local expertise and trust. This approach aims to provide businesses with a personalized touch and innovative technology to support their growth.
Fueling Local Entrepreneurship and Economic Vigor
Coastal States Bank’s expansion into Charleston is well-timed to support the city’s continued economic vigor and the entrepreneurial spirit that defines the region. Charleston’s business community is described as diverse, entrepreneurial, and deeply connected to the region. The bank offers a range of services designed for businesses, including small business checking, savings, and lending options, as well as digital banking solutions. For commercial clients, services include commercial checking, savings, various lending options, and treasury management services. The bank’s commitment to providing capital when needed, including a 48-hour small business lending approval process and SBA loans, can be instrumental for businesses looking to expand or navigate market opportunities.
The bank’s “local touch of relationship banking” combined with technology aims to help small businesses thrive. This commitment to local market needs and direct engagement with business owners reinforces a pro-business environment, contributing to the overall economic health and job creation within the Lowcountry and across South Carolina. The presence of strong community banks like Coastal States Bank fosters a competitive financial landscape, benefiting local enterprises by offering tailored solutions and accessible capital, essential components for sustained economic growth.
Community Engagement Beyond Banking
Beyond its financial services, Coastal States Bank demonstrates a commitment to community involvement. In November 2017, the bank established the Coastal States Community Commitment, a charitable fund in partnership with the Community Foundation of the Lowcountry. This initiative is designed to strengthen communities through grants and employee volunteer programs, addressing local needs and opportunities across a diverse range of charitable efforts. This dedication to community welfare complements its commercial endeavors, building a stronger foundation for shared prosperity in the regions it serves.
The expansion of Coastal States Bank into Charleston represents a significant investment in the future of South Carolina’s economy. By bringing a proven relationship-driven banking model and an experienced local team to Charleston, CSB is poised to empower more entrepreneurs and businesses, fostering continued economic growth and innovation throughout the Lowcountry. We encourage our readers to recognize the vital role that accessible, community-focused financial institutions play in shaping our local economies and to support the businesses that choose to invest in our region’s prosperity.
Frequently Asked Questions (FAQ)
When did Coastal States Bank announce its expansion into Charleston?
Coastal States Bank announced its expansion into the Charleston market on January 19, 2026.
Where is Coastal States Bank headquartered?
Coastal States Bank is a local community bank headquartered on Hilton Head Island, South Carolina.
Who leads the new commercial banking team in Charleston?
The commercial banking team in Charleston is led by Edward Vaughan, who serves as Charleston Market President.
What services will the Charleston commercial banking team offer?
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.
How much banking experience does the new Charleston team collectively bring?
The new Charleston commercial banking team collectively brings more than 50 years of combined banking experience.
What is Coastal States Bank’s total asset value?
Coastal States Bank currently has approximately $2.3 billion in total assets.
What is the Coastal States Community Commitment?
The Coastal States Community Commitment is a charitable fund established by Coastal States Bank in partnership with the Community Foundation of the Lowcountry to strengthen communities through grants and employee volunteer programs.
Key Features of Coastal States Bank’s Charleston Expansion
| Feature | Description |
|---|---|
| Announcement Date | January 19, 2026 |
| Headquarters | Hilton Head Island, SC |
| Charleston Market President | Edward Vaughan |
| Commercial Banking Team | Edward Vaughan, David Wenger (Senior Commercial Banker), Thomas Pritchard (Commercial Banker) |
| Team Experience | More than 50 years of combined banking experience |
| Services Offered in Charleston | C&I lending, commercial real estate lending, treasury management services for small and mid-sized businesses |
| Total Assets (approx.) | $2.3 billion |
| Community Engagement | Coastal States Community Commitment, a charitable fund in partnership with the Community Foundation of the Lowcountry |
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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.
