Wednesday, July 27, 2016

Chief Financial Officer Paul Garrigues Resigns

BEAUFORT, S.C., July 27, 2016 – Coastal Banking Company Inc. (OTCQX:CBCO), the holding company of CBC National Bank, which operates branches in Fernandina Beach, Ocala and The Villages, Fla., and Beaufort and Port Royal, S.C., announced that Paul R. Garrigues has resigned as chief financial officer, effective August 5, to pursue other opportunities.

Garrigues joined Coastal Banking Company Inc. as chief financial officer in September 2007 as a 30-year financial, accounting and banking professional. Over his long career, Garrigues has served as chief financial officer for eight financial institutions across the country. Immediately prior to joining Coastal, Garrigues served as senior vice president of secondary marketing at Seacoast National Bank in Stuart, Fla., which acquired Big Lake National Bank in 2006, where he served as CFO.

Garrigues earned a bachelor’s degree in accounting from the University of Southern California. He is a certified public accountant and is a member of the American Institute of Certified Public Accountants.

“Paul Garrigues served Coastal with distinction for nine years as chief financial officer, helping the company navigate a period of both stellar growth and positive financial results, and also through the very difficult period of the Great Recession,” said Michael G. Sanchez, chief executive officer. “His decades of experience and financial acumen were a valuable resource to the company throughout his tenure. We wish him nothing but the best in his future endeavors.”

For More Information:
Michael G. Sanchez
Chairman & Chief Executive Officer
Coastal Banking Company Inc.