8-K - COSO - Equibles

UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 20, 2025

COASTALSOUTH BANCSHARES, INC.

(Exact name of Registrant as Specified in Its Charter)

Georgia	001-42730	57-1184730
(State or Other Jurisdiction<br>of Incorporation)	(Commission File Number)	(IRS Employer<br>Identification No.)
400 Galleria Parkway<br><br>Suite 1900
Atlanta, Georgia		30339
(Address of Principal Executive Offices)		(Zip Code)
Registrant’s Telephone Number, Including Area Code: (678) 396-4605
---

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading<br>Symbol(s)	Name of each exchange on which registered
Common Stock, par value $1.00 per share	COSO	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On October 20, 2025, CoastalSouth Bancshares, Inc. (the “Company”) issued a press release announcing its results of operations and financial condition for the third quarter ended September 30, 2025. A copy of the press release covering such announcement is attached hereto as Exhibit 99.1 and incorporated by reference herein.

In accordance with General Instruction B.2 of Form 8-K, the information furnished in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 hereto, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing or other document pursuant to the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing or document.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit<br><br>Number	Description
99.1	CoastalSouth Bancshares, Inc. Earnings Release dated October 20, 2025*
99.2	CoastalSouth Bancshares, Inc. Investor Presentation re: 3rd Quarter 2025 Results*
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

* Filed herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	CoastalSouth Bancshares, Inc.
Date: October 20, 2025	By:	/s/ Anthony P. Valduga
		Anthony P. Valduga
		Chief Financial Officer & Chief Operating Officer

EX-99.1

EXHIBIT 99.1

FOR IMMEDIATE RELEASE

COASTALSOUTH BANCSHARES, INC. REPORTS EARNINGS FOR THIRD QUARTER 2025

ATLANTA, GA (October 20, 2025) – CoastalSouth Bancshares, Inc. (“CoastalSouth” or the “Company”) (NYSE: COSO), the holding company for Coastal States Bank (the “Bank”), today reported net income of $6.7 million, or $0.54 per diluted share, for the third quarter of 2025, compared to approximately $6.0 million, or $0.57 per diluted share, for the second quarter of 2025, and $7.9 million, or $0.75 per diluted share, for the third quarter of 2024. For the year-to-date period ending September 30, 2025, the Company reported net income of $17.8 million, or $1.58 per diluted share, compared with $16.2 million, or $1.55 per diluted share, for the same period in 2024.

Commenting on the Company’s results, President and Chief Executive Officer, Stephen R. Stone stated, “Following the completion of our initial public offering on July 2, 2025, the Company continued to deliver excellent financial performance through the third quarter of 2025. Loan production continued to be robust with over $137.3 million in new commitments originated during the third quarter of 2025 while maintaining strong asset quality metrics. Given the recent acceleration of mergers and acquisition activity in our markets, we continue to focus on recruiting new bankers to expand our presence within our markets and grow new relationships."

Third Quarter 2025 Performance Highlights:

Net income of $6.7 million or $0.54 per diluted share
Return on average assets ("ROAA") of 1.20%
Return on average equity ("ROAE") of 10.84%; Return on average tangible common equity ("ROATCE") of 11.07%1
Net interest margin of 3.58%, an increase of 12 basis points from the second quarter of 2025
Efficiency ratio of 55.69% for the third quarter of 2025
Loans held for investment ("LHFI") production of $137.3 million in commitments led to LHFI growth of $25.8 million, up 6.7% annualized from the second quarter of 2025
Book value per share growth of $0.54, or 10.5% annualized, to $20.91 at September 30, 2025; Tangible book value1 per share growth of $0.61, or 12.2% annualized, to $20.49 at September 30, 2025 from the second quarter of 2025
Total shareholders' equity to total assets of 11.10%, compared to 9.43% at June 30, 2025; Tangible common equity1 to tangible assets1 of 10.91%, compared to 9.22% at June 30, 2025
Net charge-offs to average loans held for investment of 0.03%
Nonperforming assets to total assets of 0.63%; adjusted nonperforming assets to total assets1 of 0.43%
Allowance for credit losses ("ACL") on LHFI to total LHFI of 1.16%; ACL on LHFI to nonperforming loans of 127.03%
Completed initial public offering of 2,035,000 shares on July 2, 2025 with an initial offering price of $21.50. The Company issued 1,700,000 shares for net proceeds of $30.2 million following discounts, commissions, and expenses
Redeemed $15.0 million of subordinated debt; recognized $236 thousand of accelerated debt issuance expense

Operating Highlights

Net interest income totaled $19.2 million for the third quarter of 2025, an increase of $1.1 million, or 6.2%, from $18.1 million for the second quarter of 2025 and an increase of $2.2 million, or 13.1% from the third quarter of 2024. The Company’s net interest margin expanded to 3.58% for the third quarter of 2025, a 12 basis point increase from the second quarter of 2025 and a 26 basis point increase from the third quarter of 2024.

The yield on average interest-earning assets for the third quarter of 2025 increased to 6.14% from 6.08% for the second quarter of 2025. This increase was primarily related to an overall yield increase in all categories except a 2 basis point decrease in yield on LHFI albeit with an increased average volume of approximately $37.2 million in the LHFI portfolio quarter over quarter. The yield on available-for-sale securities was positively impacted by $225 thousand of premium recognized on corporate bonds that were called ahead of maturity. Compared to the third quarter of 2024, yields on earning assets decreased 23 basis points to 6.14% from 6.37%. The decrease was primarily attributable to a 37 basis point decrease in LHFI, a 26 basis point decrease in the yield on the loans held for sale ("LHFS") portfolio, and a net decrease in other earning assets categories.

1 Considered non-GAAP financial measure - See "Non-GAAP Financial Measures" and reconciliation of GAAP to non-GAAP financial measures in tables 10A - 10I.

The Company’s total cost of funds was 2.79% for the third quarter of 2025, a decrease of 1 basis point and 45 basis points compared with the second quarter of 2025 and third quarter of 2024, respectively. The cost of funds was impacted by the recognition of a $236 thousand debt issuance costs which were accelerated due to redemption of the Company's subordinated debt. Deposit costs decreased 3 basis points during the third quarter of 2025 to 2.72%, compared to 2.75% in the second quarter of 2025. The cost of interest-bearing deposits decreased 4 basis points during the third quarter of 2025 to 3.23%, compared with 3.27% in the second quarter of 2025, reflecting continued repricing of certificates of deposits in the third quarter of 2025.

Noninterest income totaled $2.1 million for the third quarter of 2025, an increase of $305 thousand, or 17.0%, from the second quarter of 2025, primarily attributable to an increase in gain on sale of government guaranteed loans ("GGL"). Noninterest expense totaled $11.9 million for the third quarter of 2025, a decrease of $236 thousand, or 2.0%, from the second quarter of 2025, primarily due to lower other professional fees, offset by a net increase in other noninterest expense categories.

The Company’s effective tax rate for the third quarter of 2025 was 23.2%, compared to 15.1% for the second quarter of 2025 and 22.1% for the third quarter of 2024. The increase in effective tax rate from the second quarter of 2025 was primarily due to a higher recognition of renewable energy tax credits in the second quarter of 2025.

Balance Sheet Trends

Total assets were $2.26 billion at September 30, 2025, an increase of $156.7 million, or 7.5%, from $2.10 billion at December 31, 2024. LHFS were $231.6 million at September 30, 2025, an increase of $57.6 million, or 33.1%, from $174.0 million at December 31, 2024. Gross LHFI were $1.55 billion at September 30, 2025, an increase of $143.5 million, or 10.2%, from $1.41 billion at December 31, 2024.

Total deposits were $1.95 billion at September 30, 2025, an increase of $114.9 million, or 6.3%, from $1.83 billion at December 31, 2024. Noninterest-bearing deposits were $313.6 million at September 30, 2025, or 16.1% of total deposits, compared to $302.9 million, or 16.5% of total deposits, at December 31, 2024. Brokered certificates of deposits, a component of time deposits, were $294.9 million at September 30, 2025, as compared to $274.9 million at December 31, 2024, an increase of $20.0 million, or 7.3%.

Credit Quality

During the third quarter of 2025, the Company recorded a provision (recovery) for credit losses of $653 thousand, compared to $752 thousand and ($1.0) million during the second quarter of 2025 and third quarter of 2024, respectively. The provision expense recorded during the third quarter of 2025 was primarily due to increased loan production and current period net charge-offs, offset by other changes in loss rates and economic factors. The Company's annualized net charge-offs to average LHFI ratio was 0.03% for the third quarter of 2025 as compared to 0.06% and 0.02% during the second quarter of 2025 and third quarter of 2024, respectively.

Nonperforming assets totaled $14.2 million, or 0.63% of total assets, at September 30, 2025 compared to $15.9 million, or 0.76% of total assets at December 31, 2024. The $1.7 million decrease in nonperforming assets at September 30, 2025 from December 31, 2024 was due to the sale of other real estate owned and payments collected on nonaccrual loans during the period. Adjusted nonperforming assets2, which excludes the guaranteed portions of nonaccrual loans, was $9.7 million, or 0.43% of total assets, at September 30, 2025 compared to $11.1 million, or 0.53% of total assets, at December 31, 2024.

About CoastalSouth Bancshares, Inc.

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. To learn more about Coastal States Bank, visit www.coastalstatesbank.com.

Contacts
Stephen R. Stone	Anthony P. Valduga
President and Chief Executive Officer	Chief Financial Officer / Chief Operating Officer
678-396-4605
investorrelations@coastalstatesbank.com

2 Considered non-GAAP financial measure - See "Non-GAAP Financial Measures" and reconciliation of GAAP to non-GAAP financial measures in tables 10A - 10I.

Forward-Looking Statements

Statements in this press release regarding future events and our expectations and beliefs about our future financial performance and financial condition, as well as trends in our business and markets, constitute “forward-looking statements” within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical in nature and may be identified by references to a future period or periods by the use of the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “project,” “outlook,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” The forward-looking statements in this press release should not be relied on because they are based on current information and on assumptions that we make about future events and circumstances that are subject to a number of known and unknown risks and uncertainties that are often difficult to predict and beyond our control. As a result of those risks and uncertainties, and other factors, our actual financial results in the future could differ, possibly materially, from those expressed in or implied by the forward-looking statements contained in this press release and could cause us to make changes to our future plans.

Factors that might cause such differences include, but are not limited to: the impact of current and future economic conditions, particularly those affecting the financial services industry, including the effects of declines in the real estate market, high unemployment rates, inflationary pressures, elevated interest rates and slowdowns in economic growth, as well as the financial stress on borrowers as a result of the foregoing; potential impacts of any adverse developments in the banking industry, including any impacts on customer confidence, deposit outflows, liquidity and the regulatory response thereto; changes in the interest rate environment, including changes to the federal funds rate; changes in prices, values and sales volumes of residential and commercial real estate; competition in our markets that may result in increased funding costs or reduced earning assets yields, thus reducing margins and net interest income; interest rate fluctuations, which could have an adverse effect on the Company’s profitability; a breach in security of our information systems, including the occurrence of a cyber-attack incidents or a deficiencies in cyber security; risks related to potential acquisitions; government actions or inactions, including a prolonged shutdown of the federal government, tariffs, or trade wards (including reduced consumer spending, lower economic growth or recession, reduced demand for U.S. exports, disruptions to supply chains, and decreased demand for other banking products and services), legislation or regulatory changes which could adversely affect the ability of the consolidated Company to conduct business combinations or new operations; changes in tax laws; significant turbulence or a disruption in the capital or financial markets and the effect of a fall in stock market prices on our investment securities; the effects of war or other conflicts, domestic civil unrest and tyranny, and changes in the overall geopolitical landscape; and adverse results from current or future litigation, regulatory examinations or other legal and/or regulatory actions, including as a result of the Company’s participation in and execution of government programs. Therefore, the Company can give no assurance that the results contemplated in the forward-looking statements will be realized.

Additional information regarding these and other risks and uncertainties to which our business and future financial performance are subject is contained in the section titled “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s final prospectus filed pursuant to Rule 424(b)(4) under the Securities Act of 1933, as amended, filed with the Securities and Exchange Commission (the “SEC”) on July 2, 2025 (Registration No. 333-287854), relating to our initial public offering, and in other documents that we file with the SEC from time to time, which are available on the SEC’s website, http://www.sec.gov.

In addition, our actual financial results in the future may differ from those currently expected due to additional risks and uncertainties of which we are not currently aware or which we do not currently view as, but in the future may become, material to our business or operating results. Due to these and other possible uncertainties and risks, readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release or to make predictions based solely on historical financial performance.

Any forward-looking statement speaks only as of the date on which it is made, and we do not undertake any obligation to update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. All forward-looking statements, express or implied, included in this press release are qualified in their entirety by this cautionary statement.

COASTALSOUTH BANCSHARES, INC. AND SUBSIDIARY

FINANCIAL TABLES

Financial Highlights (unaudited)
							As of and for the Nine Months Ended
(dollars in thousands except
per share amounts)
Selected Operating Data:
Interest income	32,890	31,793	30,024	30,537	32,554			94,707	93,112
Interest expense	13,700	13,715	13,265	14,266	15,588			40,680	44,061
Net interest income	19,190	18,078	16,759	16,271	16,966			54,027	49,051
Provision (recovery) for credit losses	653	752	629	1,240	(1,023	)		2,034	(687	)
Noninterest income	2,100	1,795	1,881	1,958	2,961			5,776	2,556
Noninterest expense	11,856	12,092	11,419	10,335	10,830			35,367	31,733
Income tax expense	2,040	1,064	1,542	950	2,236			4,646	4,361
Net income	6,741	5,965	5,050	5,704	7,884			17,756	16,200
Adjusted net income (1)	6,749	5,965	5,050	5,704	7,884			17,764	18,854
Share and Per Share Data:
Basic earnings per share	0.57	0.58	0.49	0.56	0.77			1.64	1.59
Adjusted basic earnings<br> per share (1)	0.57	0.58	0.49	0.56	0.77			1.64	1.85
Diluted earnings per share	0.54	0.57	0.47	0.54	0.75			1.58	1.55
Adjusted diluted earnings<br> per share (1)	0.54	0.57	0.47	0.54	0.75			1.58	1.81
Book value per share	20.91	20.37	19.67	19.01	18.86			20.91	18.86
Tangible book value per share (1)	20.49	19.88	19.17	18.51	18.35			20.49	18.35
Shares of common stock outstanding	11,978,921	10,278,921	10,274,271	10,270,146	10,250,446			11,978,921	10,250,446
Weighted average diluted shares <br> outstanding	12,325,462	10,612,255	10,642,078	10,596,364	10,544,087			11,217,972	10,420,646
Selected Balance Sheet Data:
Total assets	2,255,389	2,221,245	2,190,391	2,098,712	2,129,346			2,255,389	2,129,346
Securities available-for-sale, at<br> fair value (2)	334,955	331,760	325,478	335,267	355,174			334,955	355,174
Gross loans held for investment	1,552,976	1,527,199	1,472,232	1,409,443	1,409,913			1,552,976	1,409,913
Loans held for sale	231,593	209,101	187,481	174,033	193,938			231,593	193,938
Allowance for credit losses	18,028	17,497	17,104	17,118	15,615			18,028	15,615
Goodwill and other intangible assets	6,186	6,190	6,199	6,386	6,451			6,186	6,451
Total deposits	1,949,672	1,968,301	1,937,693	1,834,802	1,807,315			1,949,672	1,807,315
Core deposits (1)	1,654,764	1,660,409	1,650,358	1,559,904	1,628,706			1,654,764	1,628,706
Other borrowings	25,000	14,753	20,738	41,725	96,712			25,000	96,712
Total Shareholders' equity	250,438	209,365	202,104	195,232	193,303			250,438	193,303

All values are in US Dollars.

(1) Considered non-GAAP financial measure - See "Non-GAAP Financial Measures” and reconciliation of GAAP to non-GAAP financial measures in tables 10A - 10I.

(2) The Company did not have securities held to maturity in any of the periods presented.

COASTALSOUTH BANCSHARES, INC. AND SUBSIDIARY

FINANCIAL TABLES

Financial Highlights - continued (unaudited)
												As of and for the Nine Months Ended

(dollars in thousands)
Performance Ratios:
Pre-tax pre-provision net revenue<br> (PPNR) (1)	9,434		7,781		7,221		7,894			9,097			24,436		19,874
Return on average assets (ROAA) (2)	1.20	%	1.09	%	0.97	%	1.07		%	1.47	%		1.09	%	1.04	%
Adjusted return on average assets <br> (Adj. ROAA) (1)(2)	1.20		1.09		0.97		1.07			1.47			1.09		1.21
Return on average equity (2)	10.84		11.62		10.25		11.65			16.91			10.91		12.30
Adjusted return on average equity (1)(2)	10.85		11.62		10.25		11.65			16.91			10.91		14.32
Return on average tangible common <br> equity (ROATCE) (1)(2)	11.07		11.92		10.52		11.97			17.40			11.17		12.68
Adjusted return on average tangible<br> common equity (Adj. ROATCE) (1)(2)	11.08		11.92		10.52		11.97			17.40			11.18		14.76
Net interest rate spread (2)	2.83		2.76		2.67		2.42			2.48			2.76		2.50
Net interest margin (2)	3.58		3.46		3.38		3.21			3.32			3.48		3.32
Efficiency ratio	55.69		60.85		61.26		56.70			54.35			59.14		61.49
Efficiency ratio, as adjusted (1)	55.66		60.85		61.26		56.70			54.35			59.13		57.62
Noninterest income to average total <br> assets (2)	0.37		0.33		0.36		0.37			0.55			0.35		0.16
Noninterest income to total revenue	9.86		9.03		10.09		10.74			14.86			9.66		4.95
Adjusted noninterest income to total<br> adjusted revenue (1)	9.91		9.03		10.09		10.74			14.86			9.67		10.93
Noninterest expense to average total assets (2)	2.11		2.21		2.19		1.94			2.02			2.17		2.04
Average interest-earning assets to average<br> interest-bearing liabilities	129.16		126.50		126.31		127.90			127.59			127.34		127.63
Average equity to average total assets	11.08		9.37		9.46		9.20			8.70			9.99		8.47
Asset Quality Data:
Net charge-offs to average LHFI (2)	0.03	%	0.06	%	0.00	%	(0.02	)	%	0.02	%		0.03	%	0.02	%
Net charge-offs to total average loans (2)	0.03		0.05		0.00		(0.02	)		0.02			0.03		0.02
Total allowance for credit losses<br> to total LHFI	1.16		1.15		1.16		1.21			1.11			1.16		1.11
Total allowance for credit losses<br> to total loans	1.01		1.01		1.03		1.08			0.97			1.01		0.97
Total allowance for credit losses<br> to nonperforming loans	127.03		118.99		117.11		114.07			184.64			127.03		184.64
Nonperforming loans to gross LHFI	0.91		0.96		0.99		1.06			0.60			0.91		0.60
Nonperforming assets to total assets	0.63		0.66		0.70		0.76			0.44			0.63		0.44
Adjusted nonperforming assets to total<br> assets (1)	0.43		0.46		0.49		0.53			0.21			0.43		0.21
Balance Sheet and Capital Ratios:
Loan-to-deposit ratio	91.53	%	88.21	%	85.65	%	86.30		%	88.74	%		91.53	%	88.74	%
Noninterest bearing deposits to<br> total deposits	16.08		15.92		15.52		16.51			17.28			16.08		17.28
Total shareholders' equity to total assets	11.10		9.43		9.23		9.30			9.08			11.10		9.08
Tangible common equity to tangible<br> assets (1)	10.91		9.22		9.01		9.08			8.86			10.91		8.86
Tier 1 leverage ratio (3)	11.15		10.22		10.62		10.64			10.26			11.15		10.26
Common equity tier 1 ratio (3)	11.94		11.09		11.55		12.07			11.72			11.94		11.72
Tier 1 risk-based capital ratio (3)	11.94		11.09		11.55		12.07			11.72			11.94		11.72
Total risk-based capital ratio (3)	12.90		12.04		12.52		12.97			12.55			12.90		12.55
Other:
Number of branches	11		11		11		11			11			11		11
Number of full-time equivalent<br> employees	194		188		180		181			181			187		180

All values are in US Dollars.

(1) Considered non-GAAP financial measure - See "Non-GAAP Financial Measures” and reconciliation of GAAP to non-GAAP financial measures in tables 10A - 10I.

(2) Represents annualized data.

(3) Ratios are for Coastal States Bank only. Ratios for September 30, 2025 are preliminary.

COASTALSOUTH BANCSHARES, INC. AND SUBSIDIARY

FINANCIAL TABLES

Quarter End Balance Sheets (unaudited)													Table 2
	September 30,			June 30,			March 31,			December 31,			September 30,
(dollars in thousands)	2025			2025			2025			2024			2024
Assets
Cash and due from banks	$	20,088		$	23,245		$	19,380		$	37,320		$	17,722
Federal funds sold		6,191			20,045			79,153			30,641			43,602
Investment securities (1)		342,990			338,601			332,312			342,750			361,935
Loans held for sale (LHFS)		231,593			209,101			187,481			174,033			193,938
Loans held for investment (LHFI)		1,552,976			1,527,199			1,472,232			1,409,443			1,409,913
Allowance for credit losses on LHFI		(18,028	)		(17,497	)		(17,104	)		(17,118	)		(15,615	)
Loans held for investment, net		1,534,948			1,509,702			1,455,128			1,392,325			1,394,298
Bank-owned life insurance		47,833			47,373			46,924			46,484			46,044
Premises, furniture and equipment, net		18,186			18,166			17,837			17,796			17,882
Deferred tax asset		16,262			17,211			17,123			18,148			16,772
Goodwill & intangible assets (2)		6,186			6,190			6,199			6,386			6,451
Other assets		31,112			31,611			28,854			32,829			30,702
Total assets	$	2,255,389		$	2,221,245		$	2,190,391		$	2,098,712		$	2,129,346
Liabilities and shareholders' equity
Liabilities
Deposits
Noninterest bearing transaction accounts	$	313,604		$	313,386		$	300,678		$	302,907		$	312,290
Interest-bearing transaction accounts		198,753			209,816			191,452			181,068			183,707
Savings and money market		634,826			628,729			650,050			591,626			654,192
Time deposits		802,489			816,370			795,513			759,201			657,126
Total deposits		1,949,672			1,968,301			1,937,693			1,834,802			1,807,315
Federal Home Loan Bank of <br> Atlanta advances		25,000			-			-			15,000			-
Subordinated debt, net		-			14,753			14,741			14,730			14,718
Revolving commercial line of credit, net		-			-			5,997			11,995			11,994
Federal Reserve Bank - Bank Term<br> Funding Program ("BTFP") advances		-			-			-			-			70,000
Other liabilities		30,279			28,826			29,856			26,953			32,016
Total liabilities		2,004,951			2,011,880			1,988,287			1,903,480			1,936,043
Shareholders' equity
Voting common stock		10,449			8,107			8,102			8,098			8,078
Nonvoting common stock		1,530			2,172			2,172			2,172			2,172
Capital surplus		189,654			159,267			158,997			158,755			158,463
Accumulated income		59,750			53,009			47,044			41,994			36,290
Accumulated other comprehensive loss		(10,945	)		(13,190	)		(14,211	)		(15,787	)		(11,700	)
Total shareholders' equity		250,438			209,365			202,104			195,232			193,303
Total liabilities and shareholders' equity	$	2,255,389		$	2,221,245		$	2,190,391		$	2,098,712		$	2,129,346

(1) No ACL was recognized for the periods presented.

(2) Includes commercial mortgage servicing rights of $1.2 million, $1.1 million, $1.1 million, $1.2 million, and $1.3 million for September 30, 2025, June 30, 2025, March 31, 2025, December 31, 2024 and September 30, 2024, respectively.

COASTALSOUTH BANCSHARES, INC. AND SUBSIDIARY

FINANCIAL TABLES

Statements of Operations (unaudited)																Table 3
	Three Months Ended												Nine Months Ended
	September 30,			June 30,		March 31,		December 31,		September 30,			September 30,			September 30,
(dollars in thousands)	2025			2025		2025		2024		2024			2025			2024
Interest income
Interest on cash and due from banks	$	129		$	111	$	135	$	122	$	131		$	375		$	412
Interest on federal funds sold		616			698		963		870		1,045			2,277			2,881
Interest and dividends on investment<br> securities		4,125			3,875		3,800		3,994		4,171			11,800			12,052
Interest and fees on LHFS		3,422			3,296		2,819		3,404		2,993			9,537			6,868
Interest and fees on LHFI		24,598			23,813		22,307		22,147		24,214			70,718			70,899
Total interest income		32,890			31,793		30,024		30,537		32,554			94,707			93,112
Interest expense
Deposits		13,274			13,251		12,830		13,498		14,230			39,355			39,945
Other borrowings		426			464		435		768		1,358			1,325			4,116
Total interest expense		13,700			13,715		13,265		14,266		15,588			40,680			44,061
Net interest income		19,190			18,078		16,759		16,271		16,966			54,027			49,051
Provision (recovery) for credit losses		653			752		629		1,240		(1,023	)		2,034			(687	)
Net interest income after provision for<br> credit losses		18,537			17,326		16,130		15,031		17,989			51,993			49,738
Noninterest income
Mortgage banking related income		299			326		221		391		276			846			813
Interchange and card fee income		238			257		266		210		216			761			658
Service charges on deposit accounts		208			215		211		230		207			634			617
Bank-owned life insurance		461			449		440		440		437			1,350			1,224
Gain on sale of government guaranteed<br> loans		613			265		-		151		1,312			878			1,666
Losses on sale of available-for-sale<br> securities		(10	)		-		-		-		-			(10	)		(3,465	)
Other noninterest income		291			283		743		536		513			1,317			1,043
Total noninterest income		2,100			1,795		1,881		1,958		2,961			5,776			2,556
Noninterest expense
Salaries and employee benefits		6,985			6,997		6,694		6,759		6,727			20,676			19,428
Occupancy and equipment		850			814		788		762		754			2,452			2,233
Data processing		647			653		624		605		548			1,924			1,608
Other professional services		571			973		693		496		358			2,237			1,550
Software and other technology expense		788			719		703		774		671			2,210			1,968
Regulatory assessment		419			344		361		336		344			1,124			955
Other noninterest expense		1,596			1,592		1,556		603		1,428			4,744			3,991
Total noninterest expense		11,856			12,092		11,419		10,335		10,830			35,367			31,733
Net income before taxes		8,781			7,029		6,592		6,654		10,120			22,402			20,561
Income tax expense		2,040			1,064		1,542		950		2,236			4,646			4,361
Net income	$	6,741		$	5,965	$	5,050	$	5,704	$	7,884		$	17,756		$	16,200

COASTALSOUTH BANCSHARES, INC. AND SUBSIDIARY

FINANCIAL TABLES

QTD Average Balances and Yields/Rates (unaudited)																				Table 4
	Three Months Ended
	September 30, 2025								June 30, 2025								September 30, 2024
	Average					Yield/			Average					Yield/			Average					Yield/
(dollars in thousands)	Balance			Interest		Rate			Balance			Interest		Rate			Balance			Interest		Rate
Earning assets:
Cash and due from banks	$	21,058		$	129		2.43	%	$	20,762		$	111		2.14	%	$	20,317		$	131		2.57	%
Federal funds sold		52,240			616		4.68	%		62,656			698		4.47	%		76,290			1,045		5.45	%
Investment securities		339,619			4,125		4.82	%		338,635			3,875		4.59	%		353,121			4,171		4.70	%
Loans held for sale		167,424			3,422		8.11	%		167,617			3,296		7.89	%		142,205			2,993		8.37	%
Loans held for investment		1,543,363			24,598		6.32	%		1,506,211			23,813		6.34	%		1,439,835			24,214		6.69	%
Total earning assets		2,123,704			32,890		6.14	%		2,095,881			31,793		6.08	%		2,031,768			32,554		6.37	%
Noninterest-earning assets:
Allowance for credit losses on LHFI		(17,504	)							(17,110	)							(15,992	)
Bank-owned life insurance		47,569								47,119								45,798
Premises, furniture and equipment, net		18,241								18,034								17,751
Deferred tax asset		17,159								17,182								18,255
Goodwill & intangible assets		6,176								6,168								6,257
Other assets		30,633								29,442								26,648
Total noninterest-earning assets		102,274								100,835								98,717
Total assets	$	2,225,978							$	2,196,716							$	2,130,485
Interest-bearing liabilities:
Interest-bearing deposits	$	1,631,767		$	13,274		3.23	%	$	1,626,415		$	13,251		3.27	%	$	1,495,726		$	14,230		3.78	%
Federal Reserve Bank - BTFP		-			-		0.00	%		-			-		0.00	%		70,000			863		4.90	%
Federal funds purchased		-			-		0.00	%		38			1		10.56	%		-			-		0.00	%
Federal Home Loan Bank of <br> Atlanta advances		272			3		4.38	%		10,000			116		4.65	%		-			-		0.00	%
Revolving commercial line of credit, net		-			-		0.00	%		5,667			112		7.93	%		11,994			260		8.62	%
Subordinated debt, net		12,191			423		13.77	%		14,747			235		6.39	%		14,712			235		6.35	%
Total interest-bearing liabilities		1,644,230			13,700		3.31	%		1,656,867			13,715		3.32	%		1,592,432			15,588		3.89	%
Noninterest-bearing liabilities:
Noninterest-bearing deposits		306,133								306,330								323,377
Other liabilities		28,927								27,682								29,242
Total noninterest-bearing liabilities		335,060								334,012								352,619
Shareholders' equity		246,688								205,837								185,434
Total liabilities and shareholders' equity	$	2,225,978							$	2,196,716							$	2,130,485
Net interest income				$	19,190							$	18,078							$	16,966
Net interest spread							2.83	%							2.76	%							2.48	%
Net interest margin							3.58	%							3.46	%							3.32	%
Cost of total deposits (1)							2.72	%							2.75	%							3.11	%
Cost of total funding (1)							2.79	%							2.80	%							3.24	%

(1) Includes noninterest bearing deposits.

COASTALSOUTH BANCSHARES, INC. AND SUBSIDIARY

FINANCIAL TABLES

YTD Average Balances and Yields/Rates (unaudited)
	Nine Months Ended
	September 30, 2025								September 30, 2024
	Average					Yield/			Average					Yield/
(dollars in thousands)	Balance			Interest		Rate			Balance			Interest		Rate
Earning assets:
Cash and due from banks	$	21,509		$	375		2.33	%	$	20,762		$	412		2.65	%
Federal funds sold		67,659			2,277		4.50	%		68,963			2,881		5.58	%
Investment securities		337,852			11,800		4.67	%		351,623			12,052		4.58	%
Loans held for sale		157,409			9,537		8.10	%		107,145			6,868		8.56	%
Loans held for investment		1,493,081			70,718		6.33	%		1,424,289			70,899		6.65	%
Total earning assets		2,077,510			94,707		6.09	%		1,972,782			93,112		6.30	%
Noninterest-earning assets:
Allowance for credit losses on LHFI		(17,245	)							(15,936	)
Bank-owned life insurance		47,123								45,380
Premises, furniture and equipment, net		18,044								17,682
Deferred tax asset		17,379								19,570
Goodwill & intangible assets		6,224								6,352
Other assets		29,935								31,315
Total noninterest-earning assets		101,460								104,363
Total assets	$	2,178,970							$	2,077,145
Interest-bearing liabilities:
Interest-bearing deposits	$	1,608,583		$	39,355		3.27	%	$	1,448,419		$	39,945		3.68	%
Federal Reserve Bank - BTFP		-			-		0.00	%		67,701			2,485		4.90	%
Federal funds purchased		13			1		10.28	%		-			-		0.00	%
Federal Home Loan Bank of <br> Atlanta advances		3,809			131		4.60	%		1,825			77		5.64	%
Revolving commercial line of credit, net		5,141			300		7.80	%		13,043			849		8.69	%
Subordinated debt, net		13,882			893		8.60	%		14,700			705		6.41	%
Total interest-bearing liabilities		1,631,428			40,680		3.33	%		1,545,688			44,061		3.81	%
Noninterest-bearing liabilities:
Noninterest bearing deposits		301,997								325,923
Other liabilities		27,944								29,639
Total noninterest-bearing liabilities		329,941								355,562
Shareholders' equity		217,601								175,895
Total liabilities and shareholders' equity	$	2,178,970							$	2,077,145
Net interest income				$	54,027							$	49,051
Net interest spread							2.76	%							2.49	%
Net interest margin							3.48	%							3.32	%
Cost of total deposits (1)							2.75	%							3.01	%
Cost of total funding (1)							2.81	%							3.14	%

(1) Includes noninterest bearing deposits.

COASTALSOUTH BANCSHARES, INC. AND SUBSIDIARY

FINANCIAL TABLES

Loan Data (unaudited)																					Table 6
	As of the Quarter Ended
	September 30, 2025					June 30, 2025					March 31, 2025					December 31, 2024					September 30, 2024
(dollars in thousands)	Amount		% of Total			Amount		% of Total			Amount		% of Total			Amount		% of Total			Amount		% of Total
Loans held for investment ("LHFI"):
Commercial Loans
Acquisition, development and<br> construction	$	106,787		6.9	%	$	100,528		6.6	%	$	76,453		5.2	%	$	72,520		5.2	%	$	112,275		8.0	%
Income producing CRE		371,670		23.9			372,142		24.4			352,693		24.0			321,558		22.8			267,551		19.0
Owner-occupied CRE		96,287		6.2			91,147		6.0			90,204		6.1			94,573		6.7			95,789		6.8
Senior housing		223,719		14.4			236,474		15.5			245,292		16.7			234,081		16.6			231,260		16.4
Commercial and industrial		135,039		8.7			131,716		8.6			145,784		9.8			141,626		10.0			140,290		10.0
Retail Loans
Marine vessels		318,246		20.5			301,327		19.7			284,305		19.3			263,657		18.6			279,689		19.8
Residential mortgages		190,220		12.2			185,527		12.1			176,794		12.0			174,099		12.4			173,392		12.3
Cash value life insurance LOC		90,115		5.8			87,135		5.7			80,503		5.5			86,844		6.2			87,968		6.2
Other consumer		20,893		1.4			21,203		1.4			20,204		1.4			20,485		1.5			21,699		1.5
Gross loans held for investment	$	1,552,976		100.0	%	$	1,527,199		100.0	%	$	1,472,232		100.0	%	$	1,409,443		100.0	%	$	1,409,913		100.0	%
Core LHFI		1,492,992					1,464,200					1,406,199					1,342,073					1,341,135
Acquired LHFI (1)		59,984					62,999					66,033					67,370					68,778
Gross loans held for investment	$	1,552,976				$	1,527,199				$	1,472,232				$	1,409,443				$	1,409,913
Allowance for credit losses on LHFI		18,028					17,497					17,104					17,118					15,615
Net loans held for investment	$	1,534,948				$	1,509,702				$	1,455,128				$	1,392,325				$	1,394,298
Total loans held-for-sale		231,593					209,101					187,481					174,033					193,938
Total Loans	$	1,784,569				$	1,736,300				$	1,659,713				$	1,583,476				$	1,603,851

(1) Includes loans acquired through business combinations.

Nonperforming Assets (unaudited)
	As of the Quarter Ended
(dollars in thousands)	September 30, 2025			June 30, 2025			March 31, 2025			December 31, 2024			September 30, 2024
Nonaccrual loans	$	14,171		$	14,611		$	14,599		$	14,957		$	8,408
Past due loans 90 days and still accruing		21			93			6			49			49
Total nonperforming loans	$	14,192		$	14,704		$	14,605		$	15,006		$	8,457
Other real estate owned		-			-			765			864			864
Total nonperforming assets	$	14,192		$	14,704		$	15,370		$	15,870		$	9,321
Nonperforming loans to gross LHFI		0.91	%		0.96	%		0.99	%		1.06	%		0.60	%
Nonaccrual loans to total assets		0.63	%		0.66	%		0.67	%		0.71	%		0.39	%
Nonperforming assets to total assets		0.63	%		0.66	%		0.70	%		0.76	%		0.44	%

COASTALSOUTH BANCSHARES, INC. AND SUBSIDIARY

FINANCIAL TABLES

Allowance for Credit Losses (unaudited)																			Table 8
	As of and for the Three Months Ended															As of and for the Nine Months Ended
	September 30,			June 30,			March 31,			December 31,			September 30,			September 30,			September 30,
(dollars in thousands)	2025			2025			2025			2024			2024			2025			2024
Allowance for credit losses on LHFI
Balance, beginning of period	$	17,497		$	17,104		$	17,118		$	15,615		$	16,002		$	17,118		$	15,465
Net charge-offs/(recoveries):
Commercial Loans
Acquisition, development and<br> construction		-			-			-			-			-			-			-
Income producing CRE		-			-			-			-			-			-			-
Owner-occupied CRE		-			-			-			(53	)		-			-			-
Senior housing		-			-			-			-			-			-			-
Commercial and industrial		(29	)		19			1			3			30			(9	)		126
Retail Loans
Marine vessels		-			-			-			-			36			-			36
Residential mortgages		(2	)		(2	)		(2	)		(2	)		(7	)		(6	)		(13	)
Cash value life insurance LOC		-			-			-			-			-			-			-
Other consumer		156			191			16			(25	)		27			363			24
Total net charge-offs/(recoveries)	$	125		$	208		$	15		$	(77	)	$	86		$	348		$	173
Provision (recovery) for loan credit losses		656			601			1			1,426			(301	)		1,258			323
Balance, ending of period	$	18,028		$	17,497		$	17,104		$	17,118		$	15,615		$	18,028		$	15,615
Allowance for credit losses for unfunded commitments
Period beginning balance	$	3,499		$	3,348		$	2,720		$	2,906		$	3,628		$	2,720		$	3,916
(Recovery) provision for credit losses		(3	)		151			628			(186	)		(722	)		776			(1,010	)
Period ending balance	$	3,496		$	3,499		$	3,348		$	2,720		$	2,906		$	3,496		$	2,906
Balance, end of period - Allowance for credit<br> losses: LHFI and unfunded commitments	$	21,524		$	20,996		$	20,452		$	19,838		$	18,521		$	21,524		$	18,521
Total loans held for investment	$	1,552,976		$	1,527,199		$	1,472,232		$	1,409,443		$	1,409,913		$	1,552,976		$	1,409,913
Credit Analysis
Net charge-offs to average LHFI		0.03	%		0.06	%		0.00	%		(0.02	)%		0.02	%		0.03	%		0.02	%
Total allowance for credit losses on LHFI to<br> total LHFI		1.16	%		1.15	%		1.16	%		1.21	%		1.11	%		1.16	%		1.11	%
Total allowance for credit losses on LHFI to<br> nonaccrual loans		127.22	%		119.75	%		117.16	%		114.45	%		185.72	%		127.22	%		185.72	%
Total allowance for credit losses on LHFI to<br> total nonperforming loans		127.03	%		118.99	%		117.11	%		114.07	%		184.64	%		127.03	%		184.64	%

COASTALSOUTH BANCSHARES, INC. AND SUBSIDIARY

FINANCIAL TABLES

Loan Risk Ratings (1) (2) (unaudited)
	As of the Quarter Ended
(dollars in thousands)	September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024		September 30, 2024
Acquisition, development and<br> construction (1)
Pass	$	106,787	$	100,528	$	76,453	$	72,520	$	112,275
Special mention		-		-		-		-		-
Substandard		-		-		-		-		-
Total acquisition, development<br> and construction	$	106,787	$	100,528	$	76,453	$	72,520	$	112,275
Income producing CRE (1)
Pass	$	370,788	$	371,255	$	352,281	$	321,146	$	262,287
Special mention		-		-		-		-		4,852
Substandard		882		887		412		412		412
Total income producing	$	371,670	$	372,142	$	352,693	$	321,558	$	267,551
Owner-occupied CRE (1)
Pass	$	86,533	$	81,244	$	83,711	$	87,906	$	89,133
Special mention		3,579		3,612		-		-		1,838
Substandard		6,175		6,291		6,493		6,667		4,818
Total owner occupied	$	96,287	$	91,147	$	90,204	$	94,573	$	95,789
Senior housing (1)
Pass	$	205,330	$	217,971	$	208,922	$	190,084	$	184,178
Special mention		12,006		12,078		24,814		25,025		17,493
Substandard		6,383		6,425		11,556		18,972		29,589
Total senior housing	$	223,719	$	236,474	$	245,292	$	234,081	$	231,260
Commercial and industrial (2)
Pass	$	128,468	$	124,979	$	141,202	$	136,878	$	135,476
Special mention		2,402		2,199		-		36		189
Substandard		4,169		4,538		4,582		4,712		4,625
Total non-real estate	$	135,039	$	131,716	$	145,784	$	141,626	$	140,290
Marine vessels (2)
Performing	$	318,246	$	301,327	$	284,305	$	263,657	$	279,689
Nonperforming		-		-		-		-		-
Total marine vessels	$	318,246	$	301,327	$	284,305	$	263,657	$	279,689
Residential mortgages (2)
Performing	$	190,059	$	185,162	$	176,633	$	173,834	$	173,122
Nonperforming		161		365		161		265		270
Total residential mortgages	$	190,220	$	185,527	$	176,794	$	174,099	$	173,392
Cash value life insurance LOC (2)
Performing	$	90,115	$	87,135	$	80,503	$	86,844	$	87,968
Nonperforming		-		-		-		-		-
Total cash value life insurance<br> LOC	$	90,115	$	87,135	$	80,503	$	86,844	$	87,968
Other consumer (2)
Performing	$	20,872	$	21,203	$	20,204	$	20,442	$	21,699
Nonperforming		21		-		-		43		-
Total other consumer	$	20,893	$	21,203	$	20,204	$	20,485	$	21,699
Gross loans held for investment	$	1,552,976	$	1,527,199	$	1,472,232	$	1,409,443	$	1,409,913

(1) There were no commercial loans classified as doubtful.

(2) Retail loans are classified as either performing or nonperforming.

Non-GAAP Financial Measures

The measures entitled return on average tangible common equity, tangible book value per share, tangible common equity, tangible assets, adjusted nonperforming assets to total assets, adjusted nonperforming assets, adjusted net income, adjusted basic earnings per share, adjusted diluted earnings per share, pre-tax, pre-provision net revenue, adjusted return on average assets, adjusted return on average equity, efficiency ratio, as adjusted, adjusted return on average tangible common equity, adjusted noninterest income to total revenue, and tangible common equity to tangible assets are not measures recognized under accounting principles generally accepted in the United States of America (“GAAP”) and therefore are considered non-GAAP financial measures. The most comparable GAAP measures to these measures are return on average shareholders’ equity, book value per share, total shareholders’ equity, total assets, total nonperforming assets to total assets, total nonperforming assets, net income, basic earnings per share, diluted earnings per share, net income, return on average assets, return on average equity, the efficiency ratio, return on average equity, noninterest income to total revenue, total common equity to total assets, respectively.

Management believes that that these non-GAAP financial measures and the information they provide are useful to investors since these measures permit investors to view the Company’s performance using the same tools that management uses to evaluate the Company’s past performance and prospects for future performance. While management believes that these non-GAAP financial measures are useful in evaluating our performance, this information should be considered as supplemental and not as a substitute for or superior to the related financial information prepared in accordance with GAAP. Additionally, these non-GAAP financial measures should be considered as additional views of the way the Company’s financial measures are affected by significant items and other factors, and since they are not required to be uniformly applied, they may not be comparable to other similarly titled measures at other companies.

COASTALSOUTH BANCSHARES, INC. AND SUBSIDIARY

FINANCIAL TABLES

Non-GAAP Reconciliations

Tangible Book Value per Share / Tangible Common Equity to Tangible Assets (unaudited)
	As of and for the Three Months Ended														As of and for the Nine Months Ended
	September 30,					March 31,			December 31,			September 30,			September 30,			September 30,
(dollars in thousands, except per share data)	2025					2025			2024			2024			2025			2024
Tangible Common Equity:
Total shareholders' equity	$	250,438		209,365		$	202,104		$	195,232		$	193,303		$	250,438		$	193,303
Less: Goodwill and intangibles		(6,186	)	(6,190	)		(6,199	)		(6,386	)		(6,451	)		(6,186	)		(6,451	)
Adjusted for: Mortgage servicing<br> rights		1,156		1,122			1,093			1,237			1,258			1,156			1,258
Tangible Common Equity	$	245,408		204,297		$	196,998		$	190,083		$	188,110		$	245,408		$	188,110
Common shares outstanding		11,978,921		10,278,921			10,274,271			10,270,146			10,250,446			11,978,921			10,250,446
Book value per common share		20.91		20.37			19.67			19.01			18.86			20.91			18.86
Tangible book value per common <br> share		20.49		19.88			19.17			18.51			18.35			20.49			18.35
Tangible assets:
Total assets	$	2,255,389		2,221,245		$	2,190,391		$	2,098,712		$	2,129,346		$	2,255,389		$	2,129,346
Less: Goodwill and intangibles		(6,186	)	(6,190	)		(6,199	)		(6,386	)		(6,451	)		(6,186	)		(6,451	)
Adjusted for: Mortgage servicing<br> rights		1,156		1,122			1,093			1,237			1,258			1,156			1,258
Tangible assets	$	2,250,359		2,216,177		$	2,185,285		$	2,093,563		$	2,124,153		$	2,250,359		$	2,124,153
Tangible common equity to<br> tangible assets		10.91	%	9.22	%		9.01	%		9.08	%		8.86	%		10.91	%		8.86	%

All values are in US Dollars.

ROATCE / Adjusted ROATCE (unaudited)
	As of and for the Three Months Ended															As of and for the Nine Months Ended
	September 30,			June 30,			March 31,			December 31,			September 30,			September 30,			September 30,
(dollars in thousands)	2025			2025			2025			2024			2024			2025			2024
Net income	$	6,741		$	5,965		$	5,050		$	5,704		$	7,884		$	17,756		$	16,200
Average shareholders' equity		246,688			205,837			199,763			194,724			185,434			217,601			175,895
Return on average shareholders'<br> equity (1)		10.84	%		11.62	%		10.25	%		11.65	%		16.91	%		10.91	%		12.30	%
Average Tangible Common Equity:
Average shareholders' equity	$	246,688		$	205,837		$	199,763		$	194,724		$	185,434		$	217,601		$	175,895
Less: Average goodwill and<br> intangibles		(6,176	)		(6,168	)		(6,328	)		(6,432	)		(6,257	)		(6,224	)		(6,352	)
Adjusted for: Average mortgage <br> servicing rights		1,128			1,082			1,198			1,263			1,041			1,136			1,089
Average tangible common equity	$	241,640		$	200,751		$	194,633		$	189,555		$	180,218		$	212,513		$	170,632
Return on average tangible common (1)<br> shareholders' equity		11.07	%		11.92	%		10.52	%		11.97	%		17.40	%		11.17	%		12.68	%
Net income	$	6,741		$	5,965		$	5,050		$	5,704		$	7,884		$	17,756		$	16,200
Adjusted for:
Loss on sale of AFS <br> securities, net of tax (2)		8			-			-			-			-			8			2,654
Adjusted net income	$	6,749		$	5,965		$	5,050		$	5,704		$	7,884		$	17,764		$	18,854
Average tangible common equity	$	241,640		$	200,751		$	194,633		$	189,555		$	180,218		$	212,513		$	170,632
Adjusted return on average tangible<br> common equity (1)		11.08	%		11.92	%		10.52	%		11.97	%		17.40	%		11.18	%		14.76	%

(1) Represents annualized data.

(2) 2024 consists of loss on sale of AFS securities due to non-routine portfolio restructuring.

COASTALSOUTH BANCSHARES, INC. AND SUBSIDIARY

FINANCIAL TABLES

Non-GAAP Reconciliations

Efficiency Ratio, as Adjusted / Noninterest Income to Total Revenue (unaudited)
	As of and for the Three Months Ended															As of and for the Nine Months Ended
	September 30,			June 30,			March 31,			December 31,			September 30,			September 30,			September 30,
(dollars in thousands)	2025			2025			2025			2024			2024			2025			2024
GAAP-based efficiency ratio		55.69	%		60.85	%		61.26	%		56.70	%		54.35	%		59.14	%		61.49	%
Net interest income	$	19,190		$	18,078		$	16,759		$	16,271		$	16,966		$	54,027		$	49,051
Noninterest income		2,100			1,795			1,881			1,958			2,961			5,776			2,556
Adjusted for:
Loss on sale of AFS<br> securities (1)		10			-			-			-			-			10			3,465
Adjusted revenue	$	21,300		$	19,873		$	18,640		$	18,229		$	19,927		$	59,813		$	55,072
Total noninterest expense		11,856			12,092			11,419			10,335			10,830			35,367			31,733
Adjusted noninterest expense	$	11,856		$	12,092		$	11,419		$	10,335		$	10,830		$	35,367		$	31,733
Efficiency ratio, as adjusted		55.66	%		60.85	%		61.26	%		56.70	%		54.35	%		59.13	%		57.62	%
Noninterest income to total revenue		9.86	%		9.03	%		10.09	%		10.74	%		14.86	%		9.66	%		4.95	%
Adjusted noninterest income to<br> total adjusted revenue		9.91	%		9.03	%		10.09	%		10.74	%		14.86	%		9.67	%		10.93	%

(1) 2024 consists of loss on sale of AFS securities due to non-routine portfolio restructuring.

Adjusted Net Income / Adjusted Return on Average Assets (unaudited)
	As of and for the Three Months Ended															As of and for the Nine Months Ended
	September 30,			June 30,			March 31,			December 31,			September 30,			September 30,			September 30,
(dollars in thousands)	2025			2025			2025			2024			2024			2025			2024
Net income	$	6,741		$	5,965		$	5,050		$	5,704		$	7,884		$	17,756		$	16,200
Average assets		2,225,978			2,196,716			2,111,196			2,117,357			2,130,485			2,178,970			2,077,145
Return on average assets (1)		1.20	%		1.09	%		0.97	%		1.07	%		1.47	%		1.09	%		1.04	%
Net income	$	6,741		$	5,965		$	5,050		$	5,704		$	7,884		$	17,756		$	16,200
Adjusted for:
Loss on sale of AFS <br> securities, net of tax (2)		8			-			-			-			-			8			2,654
Adjusted net income	$	6,749		$	5,965		$	5,050		$	5,704		$	7,884		$	17,764		$	18,854
Average assets	$	2,225,978		$	2,196,716		$	2,111,196		$	2,117,357		$	2,130,485		$	2,178,970		$	2,077,145
Adjusted return on average<br> assets (1)		1.20	%		1.09	%		0.97	%		1.07	%		1.47	%		1.09	%		1.21	%

(1) Represents annualized data.

(2) 2024 consists of loss on sale of AFS securities due to non-routine portfolio restructuring.

Adjusted Net Income / Adjusted Return on Average Shareholders' Equity (unaudited)
	As of and for the Three Months Ended															As of and for the Nine Months Ended
	September 30,			June 30,			March 31,			December 31,			September 30,			September 30,			September 30,
(dollars in thousands)	2025			2025			2025			2024			2024			2025			2024
Net income	$	6,741		$	5,965		$	5,050		$	5,704		$	7,884		$	17,756		$	16,200
Average shareholders' equity		246,688			205,837			199,763			194,724			185,434			217,601			175,895
Return on average<br> shareholders' equity (1)		10.84	%		11.62	%		10.25	%		11.65	%		16.91	%		10.91	%		12.30	%
Net income	$	6,741		$	5,965		$	5,050		$	5,704		$	7,884		$	17,756		$	16,200
Adjusted for:
Loss on sale of AFS <br> securities, net of tax (2)		8			-			-			-			-			8			2,654
Adjusted net income	$	6,749		$	5,965		$	5,050		$	5,704		$	7,884		$	17,764		$	18,854
Average shareholders' equity	$	246,688		$	205,837		$	199,763		$	194,724		$	185,434		$	217,601		$	175,895
Adjusted return on average<br> shareholders' equity (1)		10.85	%		11.62	%		10.25	%		11.65	%		16.91	%		10.91	%		14.32	%

(1) Represents annualized data.

(2) 2024 consists of loss on sale of AFS securities due to non-routine portfolio restructuring.

COASTALSOUTH BANCSHARES, INC. AND SUBSIDIARY

FINANCIAL TABLES

Non-GAAP Reconciliations

Adjusted Net Income / Adjusted Basic EPS / Adjusted Diluted EPS (unaudited)
	As of and for the Three Months Ended										As of and for the Nine Months Ended
	September 30,		June 30,		March 31,		December 31,		September 30,		September 30,		September 30,
(dollars in thousands, except per share data)	2025		2025		2025		2024		2024		2025		2024
Net income	$	6,741	$	5,965	$	5,050	$	5,704	$	7,884	$	17,756	$	16,200
Average common shares<br> outstanding - basic		11,941,965		10,277,721		10,273,125		10,250,446		10,250,446		10,837,050		10,180,788
Basic earnings per share	$	0.57	$	0.58	$	0.49	$	0.56	$	0.77	$	1.64	$	1.59
Average common shares<br> outstanding - diluted		12,325,462		10,612,255		10,642,078		10,596,364		10,544,087		11,217,972		10,420,646
Diluted earnings per share	$	0.54	$	0.57	$	0.47	$	0.54	$	0.75	$	1.58	$	1.55
Net income	$	6,741	$	5,965	$	5,050	$	5,704	$	7,884	$	17,756	$	16,200
Adjusted for:
Loss on sale of AFS securities,<br> net of tax (1)		8		-		-		-		-		8		2,654
Adjusted net income	$	6,749	$	5,965	$	5,050	$	5,704	$	7,884	$	17,764	$	18,854
Adjusted basic earnings per share	$	0.57	$	0.58	$	0.49	$	0.56	$	0.77	$	1.64	$	1.85
Adjusted diluted earnings per share	$	0.54	$	0.57	$	0.47	$	0.54	$	0.75	$	1.58	$	1.81

(1) 2024 consists of loss on sale of AFS securities due to non-routine portfolio restructuring.

Adjusted Nonperforming Assets to Total Assets (unaudited)
	As of and for the Three Months Ended															As of and for the Nine Months Ended
	September 30,			June 30,			March 31,			December 31,			September 30,			September 30,			September 30,
(dollars in thousands)	2025			2025			2025			2024			2024			2025			2024
Total nonperforming assets	$	14,192		$	14,704		$	15,370		$	15,870		$	9,321		$	14,192		$	9,321
Total assets		2,255,389			2,221,245			2,190,391			2,098,712			2,129,346			2,255,389			2,129,346
GAAP-based nonperforming assets<br> to total assets		0.63	%		0.66	%		0.70	%		0.76	%		0.44	%		0.63	%		0.44	%
Total nonperforming assets	$	14,192		$	14,704		$	15,370		$	15,870		$	9,321		$	14,192		$	9,321
Adjusted for:
Guaranteed portions of nonaccrual<br> loans		4,457			4,583			4,692			4,811			4,916			4,457			4,916
Adjusted total nonperforming assets	$	9,735		$	10,121		$	10,678		$	11,059		$	4,405		$	9,735		$	4,405
Total assets	$	2,255,389		$	2,221,245		$	2,190,391		$	2,098,712		$	2,129,346		$	2,255,389		$	2,129,346
Adjusted nonperforming assets to <br> total assets		0.43	%		0.46	%		0.49	%		0.53	%		0.21	%		0.43	%		0.21	%
PPNR (unaudited)														Table 10H
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	As of and for the Three Months Ended											As of and for the Nine Months Ended
	September 30,		June 30,		March 31,		December 31,		September 30,			September 30,			September 30,
(dollars in thousands)	2025		2025		2025		2024		2024			2025			2024
Net income (GAAP-based)	$	6,741	$	5,965	$	5,050	$	5,704	$	7,884		$	17,756		$	16,200
Plus:
Income tax expense		2,040		1,064		1,542		950		2,236			4,646			4,361
Provision (recovery) for credit losses		653		752		629		1,240		(1,023	)		2,034			(687	)
Pre-tax, pre-provision net revenue	$	9,434	$	7,781	$	7,221	$	7,894	$	9,097		$	24,436		$	19,874
Core Deposits (unaudited)													Table 10I
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	As of and for the Three Months Ended										As of and for the Nine Months Ended
	September 30,		June 30,		March 31,		December 31,		September 30,		September 30,			September 30,
(dollars in thousands)	2025		2025		2025		2024		2024		2025			2024
Total Deposits	$	1,949,672	$	1,968,301	$	1,937,693	$	1,834,802	$	1,807,315	$	1,949,672		$	1,807,315
Less:
Brokered CDs		294,908		307,892		287,335		274,898		178,609		294,908			178,609
Core deposits (1)	$	1,654,764	$	1,660,409	$	1,650,358	$	1,559,904	$	1,628,706	$	1,654,764		$	1,628,706

(1) The Company defines its core deposits as total deposits, less brokered certificates of deposits.

CoastalSouth Bancshares, Inc. Third Quarter 2025 Investor Presentation October 20, 2025 October 20, 2025 Third Quarter 2025 Investor Presentation Exhibit 99.2

Disclosures Forward Looking Statements Statements in this Investor Presentation regarding future events and our expectations and beliefs about our future financial performance and financial condition, as well as trends in our business and markets, constitute “forward-looking statements” within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical in nature and may be identified by references to a future period or periods by the use of the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “project,” “outlook,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” The forward-looking statements in this Investor Presentation should not be relied on because they are based on current information and on assumptions that we make about future events and circumstances that are subject to a number of known and unknown risks and uncertainties that are often difficult to predict and beyond our control. As a result of those risks and uncertainties, and other factors, our actual financial results in the future could differ, possibly materially, from those expressed in or implied by the forward-looking statements contained in this Investor Presentation and could cause us to make changes to our future plans. Factors that might cause such differences include, but are not limited to: the impact of current and future economic conditions, particularly those affecting the financial services industry, including the effects of declines in the real estate market, high unemployment rates, inflationary pressures, elevated interest rates and slowdowns in economic growth, as well as the financial stress on borrowers as a result of the foregoing; potential impacts of any adverse developments in the banking industry, including any impacts on customer confidence, deposit outflows, liquidity and the regulatory response thereto; changes in the interest rate environment, including changes to the federal funds rate; changes in prices, values and sales volumes of residential and commercial real estate; competition in our markets that may result in increased funding costs or reduced earning assets yields, thus reducing margins and net interest income; interest rate fluctuations, which could have an adverse effect on the Company’s profitability; a breach in security of our information systems, including the occurrence of a cyber-attack incidents or deficiencies in cyber security; risks related to potential acquisitions; government actions or inactions, including a prolonged shutdown of the federal government, tariffs, or trade wards (including reduced consumer spending, lower economic growth or recession, reduced demand for U.S. exports, disruptions to supply chains, and decreased demand for other banking products and services), legislation or regulatory changes which could adversely affect the ability of the consolidated Company to conduct business combinations or new operations; changes in tax laws; significant turbulence or a disruption in the capital or financial markets and the effect of a fall in stock market prices on our investment securities; the effects of war or other conflicts, domestic civil unrest and tyranny, and changes in the overall geopolitical landscape; and adverse results from current or future litigation, regulatory examinations or other legal and/or regulatory actions, including as a result of the Company’s participation in and execution of government programs. Therefore, the Company can give no assurance that the results contemplated in the forward-looking statements will be realized. Additional information regarding these and other risks and uncertainties to which our business and future financial performance are subject is contained in the section titled “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s final prospectus filed pursuant to Rule 424(b)(4) under the Securities Act of 1933, as amended, filed with the Securities and Exchange Commission (the “SEC”) on July 2, 2025 (Registration No. 333-287854), relating to our initial public offering, and in other documents that we file with the SEC from time to time, which are available on the SEC’s website, http://www.sec.gov. In addition, our actual financial results in the future may differ from those currently expected due to additional risks and uncertainties of which we are not currently aware or which we do not currently view as, but in the future may become, material to our business or operating results. Due to these and other possible uncertainties and risks, readers are cautioned not to place undue reliance on the forward-looking statements contained in this Investor Presentation or to make predictions based solely on historical financial performance. Any forward-looking statement speaks only as of the date on which it is made, and we do not undertake any obligation to update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. All forward-looking statements, express or implied, included in this Investor Presentation are qualified in their entirety by this cautionary statement.

Disclosures Non-GAAP Financial Measures In addition to results presented in accordance with U.S. generally accepted accounting principles (“GAAP”), this Investor Presentation contains certain non-GAAP financial measures. The Company believes that providing certain non-GAAP financial measures provides investors with information useful in understanding our financial performance, performance trends and financial position. Our management uses these measures for internal planning and forecasting purposes and we believe that our presentation and discussion, together with the accompanying reconciliations, allows investors, security analysts and other interested parties to view our performance and the factors and trends affecting our business in a manner similar to management. These non-GAAP measures should not be considered a substitute for GAAP measures and we strongly encourage investors to review our consolidated financial statements in their entirety and not to rely on any single financial measure to evaluate the Company. Non-GAAP financial measures have inherent limitations, are not uniformly applied and are not audited. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names. The delivery of this Investor Presentation will not, under any circumstances, create an implication that there has been no change in the affairs of the Company since the date of this Investor Presentation. The Company is not making any implied or express representation or warranty as to the accuracy or completeness of the information summarized herein or made available in connection with any further investigation of the Company. The Company expressly disclaims any and all liability which may be based on such information, errors therein or omission therefrom.

Company Overview Total Assets $2.26 Billion Total Deposits $1.95 Billion Total Loans $1.78 Billion Tier 1 Leverage(1) 11.15% CET1(1) 11.94% # of Banking Offices 11 Best-in-class growth profile with 1-year CAGR for Total Loans of 11.3% and 1-year CAGR for TBV(2)/Share of 11.6% Strong risk management and unwavering focus on credit quality Established and efficient community banking franchise Diversified business lines Scarcity value as one of only five major exchange traded banks headquartered in GA or SC between $1.5 - $5.0 billion in assets Capital ratios are for Coastal States Bank, a wholly-owned subsidiary of CoastalSouth Bancshares, Inc. Non-GAAP financial measure; for a reconciliation of Non-GAAP financial measures to their most directly comparable GAAP measure see the Appendix.

Diluted EPS Return on Average Tangible Common Equity(1) Return on Average Assets Net Interest Margin Adj. Non-Performing Assets(1) / Total Assets Quarterly Highlights: Q3 2025 Non-GAAP financial measure; for a reconciliation of Non-GAAP financial measures to their most directly comparable GAAP measure see the Appendix. LHFI is defined as Loans held for investments. Only Q3 2025 includes the impact of COSO’s IPO. Billion in Total Assets QoQ Annualized LHFI(2) Growth Loan / Deposit Ratio QoQ Annualized TBV (1) per Share Growth Net Charge-Offs to Average LHFI $0.54 3.58% 9.13% $2.26 5.01% 91.53% 0.43% 11.07% 0.03% 1.20%

Loans Held for Investment Production $137.3 million in gross LHFI production for Q3 2025, $551.2 million in gross LHFI production year to date. Community Bank loan production is approximately 62% of total LHFI production for YTD 2025. YTD growth in Community Bank LHFI were approximately $81.5 million or 12.9% annualized. The weighted average coupon for new production was 7.29% for Q3 2025, 97 bps higher than the weighted average yield of 6.32% for the LHFI portfolio. The Company defines Production as original loan commitment, which includes both funded and unfunded loan commitments. Specialty LOBs within this chart include Marine Lending, Senior Housing Lending, and Government Guaranteed Lending.

Loan Portfolio Loan portfolio is well diversified across loan types and geographies and managed by a seasoned team of bankers and credit officers. Conservative relationship lending limits with well structured underwriting guidelines. CRE and ADC concentrations were 230% and 51% at the end of Q3 2025, well below regulatory guidelines. Will allow for continued organic expansion. Non-owner occupied office loans totaled $29.8 million or 1.9% of total LHFI at the end of the Q3 2025. Average loan size is $1.2 million. For Q3 2025, there were no CRE charge-offs and CRE nonperforming loans were $9.9 million or 0.64% of total LHFI. $1.7 B Ratios are for Coastal States Bank. CRE Concentration ratio defined as Construction & Development, Multifamily, and Non-Owner Occupied CRE loans divided by Total Regulatory Capital. ADC concentration ratio is defined as Construction & Development loans divided by Total Regulatory Capital. Loan categories and total regulatory capital are determined using FFIEC call report guidelines. Ratios for the current quarter are preliminary.

Deposit Portfolio Reflects the effect of non-interest-bearing deposits. Non-GAAP financial measure; for a reconciliation of Non-GAAP financial measures to their most directly comparable GAAP measure see the Appendix. Average total deposits increased $5.3 million compared to the prior quarter and increased $118.9 million compared to the Q3 2024. Interest-bearing deposit costs decreased 4 bps compared to Q2 2025 and 55 bps compared Q3 2024. September monthly average deposit cost was 2.70%. Decrease in deposit cost driven by active deposit relationship management and benefit of money market and CD repricing. Noninterest-bearing and interest-bearing transaction accounts were 30.8% of average total deposits during Q3 2025. Deposit balances sourced from Specialty Lines of Business totaled $48.0 million at the end of Q3 2025. Core deposits(2) represented 84.8% of total deposits at the end of Q3 2025.

Capital *Q3 2025 regulatory capital ratios are preliminary. (1) Capital ratios presented are for Coastal States Bank. (2) Non-GAAP financial measure; for a reconciliation of Non-GAAP financial measures to their most directly comparable GAAP measure see the Appendix. (3) Only Q3 2025 includes the impact of COSO’s IPO. Received net proceeds from the IPO of $30.2 million following discounts, commissions, and expenses. Subordinated debt of $15.0 million was repaid. $16.0 million of net proceeds from the IPO were contributed to Coastal States Bank. Net unrealized securities losses in AOCI improved by $2.5 million to $13.3 million in Q3 2025. Tier 1 leverage ratio increased 93 bps to 11.15% as compared to Q2 2025; tangible common equity to total assets(2) increased 169 bps to 10.91% , as compared to Q2 2025. Regulatory capital ratios remain strong, providing opportunities for additional balance sheet expansion. CAGR 11.6%

Net Interest Margin (1) Annualized Net interest income increased $1.1 million compared to the prior quarter and $2.2 million compared to Q3 2024. Yield on investment securities positively impacted by $225 thousand on certain corporate securities owned at a discount which were redeemed ahead of maturity. Costs of funds negatively impacted by $236 thousand due to acceleration of debt issuance costs recognized upon early redemption of $15 million subordinated debt. Strong loan production and disciplined pricing practices during 2025 has improved net interest income and net interest margin throughout 2025.

Interest Rate Sensitivity (1) Cycle-to-date reflects changes since third quarter 2024 and incorporates the decrease in the average Fed Funds Effective Target rate. Note: NM – Not Meaningful The cycle-to-date (1) beta on total loans, compared to the average Fed Funds Effective Target rate was 36%. The cycle-to-date (1) total deposit beta was 41%. Approximately 41.4% of loan rate structures of LHFI are floating (repricing within one quarter). Inclusive of fixed rate loans, approximately 49.3% of LHFI, or $765.5 million are scheduled to reprice or mature in the next twelve months, of which $661.7 million or 42.6% are scheduled to reprice in the next 3 months. Effective deposit re-pricing practices, cycle to date, have helped stabilize and improve margins. Loan and Deposit Betas(vs. Fed Effective) Cycle-to-Date (1) Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Average Fed Effective Rate 5.3% 4.7% 4.3% 4.3% 4.3% Interest Bearing Deposit Costs 3.8% 3.5% 3.3% 3.3% 3.2% Total Deposit Costs 3.1% 2.9% 2.8% 2.8% 2.7% Interest Bearing Deposit Beta 57% NM 43.3% 60.6% NM NM Total Deposit Beta 41% NM 33.3% 33.3% NM NM Loan Yields (LHFI, LHFS) 6.8% 6.5% 6.5% 6.5% 6.5% Loan Beta 36% NM 61.8% -11.8% NM -6.1%

Noninterest Income Gain on sale of government guaranteed loans (“GGL”) was $613 thousand for Q3 2025 compared to $265 thousand in Q2 2025. YTD GGL loan production was $44.7 million. At the end of Q3 2025, there are approximately $17.1 million loans that have been closed but have not been sold into the secondary market, including $13.1 million of multi-disbursement loans that may be saleable once fully funded. A protracted government shutdown will have an impact on ability to sell loans into the secondary market in Q4 2025. Mortgage banking income has remained consistent, despite a challenging mortgage environment with elevated rates and home prices. There were no sales of other assets or significant income from partnership investments during the current quarter, which impacts other noninterest income.

Noninterest Expense Q3 2025 efficiency ratio of 55.7%, down 516 bps from Q2 2025. Driven by higher revenue and modest reduction in expense Professional fees decreased during the quarter due to lower legal and consulting expenses related to loan collection efforts and decreased recruiting expenses. Salaries and benefits remained comparable from Q2 2025 to Q3 2025. 8 new commercial bankers were hired YTD 2025. As consolidation continues within our markets, we see opportunities to expand our team by recruiting seasoned banking professionals who share our relationship-driven philosophy.

Credit Quality Net charge-offs (“NCO”) continue to be minimal, with an average ratio of NCO to average LHFI of 0.01% over the last 5 consecutive quarters. Nonperforming assets improved $440 thousand Q3 2025 and were 0.63% of total loans, down 3 bps from Q2 2025, driven by payment activity and upgrade of one mortgage loan. Higher risk loans, defined as special mention plus substandard accruing, were 1.39%, down 4 basis points from the Q2 2025.

Allowance for Credit Losses The level of the Allowance for Credit Losses (“ACL”) has remained relatively stable for the last several quarters. Net charge-off activity remains minor. Changes in the provision for ACL are driven by the impact of net charge-offs, loan production volume and mix, and other model factors, such as updated economic forecasts. The Company caries an ACL on Loans for $18.0 million and an ACL for Unfunded Commitments of $3.5 million at September 30, 2025.

Appendix

Core Operating Principles We believe that by focusing on our five core values outlined below, we can create meaningful relationships between our Bank, team members, clients, and our communities Each of these relationships is critical to our financial success and supports our capacity to drive shareholder value Key drivers of COSO’s success include: Unwavering commitment to hiring the best local bankers Valuing entrepreneurial culture, ensuring daily actions are aligned with vision and values Communicating clearly and candidly Providing exceptional service and innovative solutions

Business Evolution & Milestones Government Guaranteed Lending business; loans made through U.S. Small Business Administration (“SBA”) and United States Department of Agriculture (“USDA”) programs As of March 31, 2018 As of March 31, 2021 Early History & Recapitalization Expansion in Key Southeast MSAs Positioning for Future Growth Founded in August 2004 in Hilton Head Island, SC Opened Savannah, GA branch; completed $15 million subordinated debt offering Hired new management team (formerly of C&S) in conjunction with $62 million recapitalization; added GGL 1 & Senior Housing businesses Acquired First Citizens Financial Corporation ($95 million in assets 2) Completed $20 million common offering 2004 2017 2018 2019 2020 Acquired Cornerstone Bancshares, Inc. ($229 million in assets 3); opened Alpharetta, GA and Sandy Springs, GA branches Repositioned Mt. Paran branch to Akers Mill, GA; added Marine Lending business 2021 2022 Completed $9 million common offering 2023 Opened Beaufort, SC branch; completed $12 million common offering 2024 Joined NYSE on July 2, 2025 with Initial Public Offering of $43.8 million 2025

Specialty Lines of Business

Non-GAAP Reconciliation Annualized data. Tangible Book Value per Share / Tangible Common Equity to Tangible Assets (unaudited) As of and for the Three Months Ended As of and for the Nine Months Ended September 30, June 30, March 31, December 31, September 30, September 30, September 30, (dollars in thousands, except per share data) 2025 2025 2025 2024 2024 2025 2024 Tangible Common Equity: Total shareholders' equity $ 250,438 $ 209,365 $ 202,104 $ 195,232 $ 193,303 $ 250,438 $ 193,303 Less: Goodwill and intangibles (6,186) (6,190) (6,199) (6,386) (6,451) (6,186) (6,451) Adjusted for: Mortgage servicing rights 1,156 1,122 1,093 1,237 1,258 1,156 1,258 Tangible Common Equity $ 245,408 $ 204,297 $ 196,998 $ 190,083 $ 188,110 $ 245,408 $ 188,110 Common shares outstanding 11,978,921 $ 10,278,921 10,274,271 10,270,146 10,250,446 11,978,921 10,250,446 Book value per common share 20.91 20.37 19.67 19.01 18.86 20.91 18.86 Tangible book value per common share 20.49 19.88 19.17 18.51 18.35 20.49 18.35 Tangible assets: Total assets $ 2,255,389 $ 2,221,245 $ 2,190,391 $ 2,098,712 $ 2,129,346 $ 2,255,389 $ 2,129,346 Less: goodwill and intangibles (6,186) (6,190) (6,199) (6,386) (6,451) (6,186) (6,451) Adjusted for: Mortgage servicing rights 1,156 1,122 1,093 1,237 1,258 1,156 1,258 Tangible assets $ 2,250,359 $ 2,216,177 $ 2,185,285 $ 2,093,563 $ 2,124,153 $ 2,250,359 $ 2,124,153 Tangible common equity to tangible assets 10.91% 9.22% 9.01% 9.08% 8.86% 10.91% 8.86% ROATCE / Adjusted ROATCE (unaudited) As of and for the Three Months Ended As of and for the Nine Months Ended September 30, June 30, March 31, December 31, September 30, September 30, September 30, (dollars in thousands) 2025 2025 2025 2024 2024 2025 2024 Net income $ 6,741 $ 5,965 $ 5,050 $ 5,704 $ 7,884 $ 17,756 $ 16,200 Average shareholders' equity 246,688 205,837 199,763 194,724 185,434 217,601 175,895 Return on average shareholders' equity (1) 10.84% 11.62% 10.25% 11.65% 16.91% 10.91% 12.30% Average Tangible Common Equity: Average shareholders' equity $ 246,688 $ 205,837 $ 199,763 $ 194,724 $ 185,434 $ 217,601 $ 175,895 Less: Average goodwill and intangibles (6,176) (6,168) (6,328) (6,432) (6,257) (6,224) (6,352) Adjusted for: Average mortgage servicing rights 1,128 1,082 1,198 1,263 1,041 1,136 1,089 Average tangible common equity $ 241,640 $ 200,751 $ 194,633 $ 189,555 $ 180,218 $ 212,513 $ 170,632 Return on average tangible common (1) shareholders' equity 11.07% 11.92% 10.52% 11.97% 17.40% 11.17% 12.68%

Non-GAAP Reconciliation (cont.) The Company defines Core deposits as Total deposits less Brokered CDs. Core Deposits (unaudited) As of and for the Three Months Ended As of and for the Nine Months Ended September 30, June 30, March 31, December 31, September 30, September 30, September 30, (dollars in thousands) 2025 2025 2025 2024 2024 2025 2024 Total Deposits $ 1,949,672 $ 1,968,301 $ 1,937,693 $ 1,834,802 $ 1,807,315 $ 1,949,672 $ 1,807,315 Less: Brokered CDs 294,908 307,892 287,335 274,898 178,609 294,908 178,609 Core deposits (1) $ 1,654,764 $ 1,660,409 $ 1,650,358 $ 1,559,904 $ 1,628,706 $ 1,654,764 $ 1,628,706 Adjusted Nonperforming Assets to Total Assets (unaudited) As of and for the Three Months Ended As of and for the Nine Months Ended September 30, June 30, March 31, December 31, September 30, September 30, September 30, (dollars in thousands) 2025 2025 2025 2024 2024 2025 2024 Total nonperforming assets $ 14,192 $ 14,704 $ 15,370 $ 15,870 $ 9,321 $ 14,192 $ 9,321 Total assets 2,255,389 2,221,245 2,190,391 2,098,712 2,129,346 2,255,389 2,129,346 GAAP-based nonperforming assets to total assets 0.63% 0.66% 0.70% 0.76% 0.44% 0.63% 0.44% Total nonperforming assets $ 14,192 $ 14,704 $ 15,370 $ 15,870 $ 9,321 $ 14,192 $ 9,321 Adjusted for: Guaranteed portions of nonaccrual loans 4,457 4,583 4,692 4,811 4,916 4,457 4,916 Adjusted total nonperforming assets $ 9,735 $ 10,121 $ 10,678 $ 11,059 $ 4,405 $ 9,735 $ 4,405 Total assets $ 2,255,389 $ 2,221,245 $ 2,190,391 $ 2,098,712 $ 2,129,346 $ 2,255,389 $ 2,129,346 Adjusted nonperforming assets to total assets 0.43% 0.46% 0.49% 0.53% 0.21% 0.43% 0.21% PPNR (unaudited) As of and for the Three Months Ended As of and for the Nine Months Ended September 30, June 30, March 31, December 31, September 30, September 30, September 30, (dollars in thousands) 2025 2025 2025 2024 2024 2025 2024 Net income (GAAP-based) $ 6,741 $ 5,965 $ 5,050 $ 5,704 $ 7,884 $ 17,756 $ 16,200 Plus: Income tax expense 2,040 1,064 1,542 950 2,236 4,646 4,361 Provision (recovery) for credit losses 653 752 629 1,240 (1,023) 2,034 (687) Pre-tax, pre-provision net revenue ("PPNR") $ 9,434 $ 7,781 $ 7,221 $ 7,894 $ 9,097 $ 24,436 $ 19,874