tag:blogger.com,1999:blog-53793801749161735542024-03-05T14:06:56.709-05:00Coastal Banking CompanyAnonymoushttp://www.blogger.com/profile/00868845588375779671noreply@blogger.comBlogger40125tag:blogger.com,1999:blog-5379380174916173554.post-88908909517871168102018-04-03T11:09:00.002-04:002018-04-03T11:09:44.177-04:00First Federal Bancorp, Inc., Completes Merger With Coastal Banking Company, Inc.<br />
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Kepler Std",serif; font-size: 14.0pt; mso-bidi-font-size: 11.0pt;">First
Federal Bancorp, Inc., Completes Merger With Coastal Banking Company, Inc.<o:p></o:p></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial",sans-serif; font-size: 12.0pt; line-height: 150%; mso-bidi-font-size: 11.0pt;">LAKE
CITY, Fla., April 2, 2018<i style="mso-bidi-font-style: normal;"> – </i></span></b><span style="font-family: "Arial",sans-serif; font-size: 12.0pt; line-height: 150%; mso-bidi-font-size: 11.0pt;">First Federal Bancorp, Inc. (“FFBI”), the holding company
of<b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">
</i></b>First Federal Bank of Florida (“First Federal”) today announced that it
has completed the merger with Coastal Banking Company, Inc. (OTCQX: CBCO), the
holding company of CBC National Bank (“CBC”).<o:p></o:p></span></div>
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<span style="font-family: "Arial",sans-serif; font-size: 12.0pt; line-height: 150%; mso-bidi-font-size: 11.0pt;">CBC has been merged with and into First Federal.
The merger adds full-service banking offices in Fernandina Beach, Ocala, and
The Villages, Fla., and Beaufort and Port Royal, S.C., mortgage lending offices
in Florida, across the Southeast and Midwest, and both SBA and USDA lending
offices across Florida and in multiple states. In addition to increased
influence in Nassau County, First Federal gains </span><span style="font-family: "Arial",sans-serif; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman";">10,000 customers, approximately $600 million in assets, $425
million in deposits, and $400 million in gross loans.</span><span style="font-family: "Arial",sans-serif; font-size: 12.0pt; line-height: 150%; mso-bidi-font-size: 11.0pt;"><o:p></o:p></span></div>
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<span style="font-family: "Arial",sans-serif; font-size: 12.0pt; line-height: 150%; mso-bidi-font-size: 11.0pt;"><span style="mso-spacerun: yes;"> </span>“The
merger with CBC allows First Federal to grow our presence, customer base and
range of products and services in Nassau County and in other vibrant,
economically strong markets in both Florida and South Carolina, as well as add
mortgage, SBA and USDA lending offices in numerous states,” said Keith
Leibfried, president and chief executive officer of First Federal. “We couldn’t
be more pleased to welcome CBC’s employees and customers to First Federal, and
we look forward to serving the full range of banking and lending needs of all
of our customers as we continue to integrate CBC’s operations into First
Federal.”<o:p></o:p></span></div>
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<span style="font-family: "Arial",sans-serif; font-size: 12.0pt; line-height: 150%; mso-bidi-font-size: 11.0pt;">First Federal will work to integrate CBC
systems, processes, products and services over the next several months. The
conversion is expected to be complete in August. CBC customers are encouraged
to continue banking as they normally do and will receive further information
this summer.<o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial",sans-serif; font-size: 12.0pt; line-height: 150%; mso-bidi-font-size: 11.0pt;">About
First Federal<o:p></o:p></span></b></div>
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<span style="font-family: "Arial",sans-serif; font-size: 12.0pt; line-height: 150%; mso-bidi-font-size: 11.0pt;">First Federal Bank of Florida is a community
bank founded in the heart of North Florida in 1962. Today, First Federal is a
$2 billion-asset institution offering a full line of personal and business
financial solutions, services and loans through full-service banking offices in
Florida’s Panhandle, North Central Florida, and coastal South Carolina. In
addition, First Federal has mortgage lending offices across the Southeast and
Midwest, and SBA and USDA lending offices throughout Florida and in multiple states.
First Federal is a mutual savings bank and continues to receive a “5-Star,
Superior” financial rating from BauerFinancial, Inc., of Coral Gables, Fla. For
more information, visit www.ffbf.com.<o:p></o:p></span></div>
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<div style="text-align: left;">
<b style="mso-bidi-font-weight: normal;"><b><span style="font-family: Karla;">Nina Heringer</span></b></b></div>
<span style="font-family: Karla;"><div style="text-align: left;">
Director of Marketing</div>
<div style="text-align: left;">
(386) 755-0600, ext. 3156</div>
<o:p></o:p></span><br />
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<div style="text-align: left;">
<span style="font-family: Karla;">M:
(386) 697-6491</span></div>
<span style="font-family: Karla;"><div style="text-align: left;">
heringern@ffbf.com</div>
<o:p></o:p></span><br />
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<br />Anonymoushttp://www.blogger.com/profile/00868845588375779671noreply@blogger.comtag:blogger.com,1999:blog-5379380174916173554.post-83827840377384026822018-02-21T11:58:00.001-05:002018-02-21T11:58:24.088-05:00Coastal Banking Company Announces Shareholder Approval of Proposed Merger with First Federal Bancorp<br />
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<b style="mso-bidi-font-weight: normal;">BEAUFORT, S.C., Feb. 21, 2018</b> – Coastal
Banking Company Inc. (OTCQX:CBCO), the holding company of CBC National Bank,
which operates branches in Beaufort and Port Royal, S.C., and in Fernandina
Beach, Ocala, and The Villages, Fla., today announced that its shareholders
have approved the previously announced merger transaction with First Federal
Bancorp Inc. in a vote that took place yesterday.<o:p></o:p></div>
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On Nov. 7, 2017, First Federal
Bancorp Inc., the holding company of First Federal Bank of Florida, based in
Lake City, Fla., announced a definitive merger agreement to acquire Coastal
Banking Company Inc. and CBC National Bank. Upon completion of the merger,
First Federal will pay $21.50 per share in cash for each Coastal Banking
Company common share and stock option outstanding in a transaction valued at
$83.2 million. Pending regulatory approval, the merger is expected to be completed
in the second quarter.<o:p></o:p></div>
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“We are gratified
and excited to have taken another significant step toward our partnership with
First Federal,” said Michael G. Sanchez, chairman and chief executive officer.
“The combination of our two organizations, including the vibrant markets we
serve, the full array of personal and business financial services and products,
and the knowledgeable, personable staff of both companies, will provide our
customers with a new level of convenience, service and choice.”<o:p></o:p></div>
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First Federal
Bank of Florida is a community bank founded in the heart of North Florida in
1962. Today, First Federal is a $1.5 billion-asset institution offering a full
line of personal and business financial solutions, loans, and services from
Florida’s Panhandle to the First Coast. First Federal is a mutual savings bank
and continues to receive a “5-Star, Superior” financial rating from
BauerFinancial Inc. For more information, visit <a href="http://www.ffbf.com/">www.ffbf.com</a>.
<o:p></o:p></div>
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Full Release:</div>
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<a href="http://www.coastalbanking.com/reports--news---filings.html" target="_blank">http://www.coastalbanking.com/reports--news---filings.html</a></div>
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For More Information
Contact:<o:p></o:p></div>
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Michael G. Sanchez Thomas
J. Flournoy <o:p></o:p></div>
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Chairman & Chief
Executive Officer EVP & Chief Financial Officer<o:p></o:p></div>
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Coastal Banking
Company Inc. Coastal
Banking Company Inc.<o:p></o:p></div>
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<span style="font-family: "Times New Roman",serif; font-size: 12.0pt; mso-ansi-language: EN-US; mso-bidi-font-size: 10.0pt; mso-bidi-language: AR-SA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-US;">904-321-0400 904-321-2917 </span></div>
Anonymoushttp://www.blogger.com/profile/00868845588375779671noreply@blogger.comtag:blogger.com,1999:blog-5379380174916173554.post-48467392810373022452018-01-30T10:43:00.000-05:002018-01-30T10:43:32.550-05:00Coastal Banking Company Reports Strong Fourth Quarter and Record 2017 Earnings.<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEicUs5XIcfwpPsXcqY6Z7SM7N7I2kZx2miAIi1U6P7O3TvpaPN65ipC43jhZoRp-YXmuKMf-lKlnyedfkg61V1fuDg5cf_hXuGWJlbs85yQfpZkrRBDFavT8EQFo3DoFBlClo__3RqFcbea/s1600/CBCO+Q4+Earnings_2017.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="836" data-original-width="1600" height="167" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEicUs5XIcfwpPsXcqY6Z7SM7N7I2kZx2miAIi1U6P7O3TvpaPN65ipC43jhZoRp-YXmuKMf-lKlnyedfkg61V1fuDg5cf_hXuGWJlbs85yQfpZkrRBDFavT8EQFo3DoFBlClo__3RqFcbea/s320/CBCO+Q4+Earnings_2017.jpg" width="320" /></a></div>
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<b><br /></b><b>Coastal Banking Company Reports Strong Fourth Quarter and Record 2017 Earnings.</b></h2>
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BEAUFORT, SC / ACCESSWIRE / January 30, 2018 / Coastal Banking Company Inc. (OTCQX: CBCO) (the
"Company"), the holding company of CBC National Bank, which operates branches in Beaufort and Port Royal,
S.C., and in Fernandina Beach, Ocala, and The Villages, Fla., today reported record net income of $6.99 million,
or $1.83 diluted earnings per common share, for the year ended Dec. 31, 2017. Earnings for 2017 represented a
slight increase over the net income for the year ended Dec. 31, 2016, of $6.96 million, or $2.05 diluted earnings
per common share.<br />
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The Company reported net income of $1.72 million, or $0.45 diluted earnings per common share, for the three
months ended Dec. 31, 2017. This compares to $2.21 million, or $0.59 in diluted earnings per common share, for
the fourth quarter of 2016, a decrease of $490,000. The fourth quarter of 2016 represented the highest earnings
quarter in the Company's history. On a linked-quarter basis, the $1.72 million of net income in the fourth quarter
of 2017 was comparable to the third quarter 2017 net income of $1.71 million, or $0.45 diluted earnings per
common share.<br />
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Continued strong profitability. Annual 2017 results continued to feature more balanced net income and
solid contributions from all three of the Company's operating segments as compared to 2016: Community
Banking earned $3.59 million in 2017, up from $2.20 million in 2016. SBA Lending earned $2.02 million
in 2017, up from $891,000 earned in 2016. And Mortgage Banking earned $3.87 million in 2017.<br />
<br />
Read Full Release & Financial Statements:<br />
<a href="http://www.coastalbanking.com/reports--news---filings.html">http://www.coastalbanking.com/reports--news---filings.html</a><br />
<br />Anonymoushttp://www.blogger.com/profile/00868845588375779671noreply@blogger.comtag:blogger.com,1999:blog-5379380174916173554.post-14556823571320464412017-11-08T12:45:00.000-05:002017-11-08T15:27:43.587-05:00First Federal Bancorp, Inc. to Merge with Coastal Banking Company, Inc.<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in;">
<b><i><span style="font-family: "kepler std" , serif; font-size: 12.0pt; line-height: 150%;">Lake City, FL, November 7, 2017 – </span></i></b><span style="font-family: "kepler std" , serif; font-size: 12.0pt; line-height: 150%;">First Federal Bancorp, Inc. (“FFBI”), the holding company
of<b><i>
</i></b>First Federal Bank of Florida (“First Federal”) is pleased to announce the
signing of a definitive merger agreement under which FFBI will acquire Coastal
Banking Company, Inc. (OTCQX: CBCO), the holding company of CBC National Bank
(“CBC”).<o:p></o:p></span></div>
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<span style="font-family: "kepler std" , serif; font-size: 12.0pt; line-height: 150%;">CBC, is a $650.8 million-asset company
headquartered in Fernandina Beach, Florida. CBC currently has full-service bank
branches in Florida and South Carolina, with residential lending offices and small
business lending offices in Florida, Georgia, South Carolina, North Carolina,
Illinois, Ohio, Tennessee, and Maryland. This agreement would expand First
Federal’s bank branch presence to Ocala, Florida, and South Carolina, and
increase First Federal’s influence in Nassau County. First Federal will also
gain residential, SBA, and USDA lending offices across Florida and in multiple
states. <o:p></o:p></span></div>
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<span style="font-family: "kepler std" , serif; font-size: 12.0pt; line-height: 150%;">Under terms of the definitive merger agreement
between FFBI and CBCO, FFBI will pay $21.50 per share in cash for each CBCO
common share and stock option outstanding in a transaction valued at $83.2
million plus the repayment of $8.2 million of debt. The merger agreement has
been unanimously approved by the Boards of Directors of both FFBI and CBCO and
is subject to CBCO shareholder approval, customary closing conditions, and
regulatory approval and is expected to close late in the first quarter of 2018.
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<span style="font-family: "kepler std" , serif; font-size: 12.0pt; line-height: 150%;">“We are delighted to announce this partnership
with CBC National Bank,” said Keith Leibfried, President and CEO of First
Federal. “CBC has built a strong reputation in the markets they serve and we
look forward to continuing that tradition. We share common values and traits
with CBC and want to extend a warm welcome to CBC employees, customers, and the
communities they serve.”<o:p></o:p></span></div>
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<span style="font-family: "kepler std" , serif; font-size: 12.0pt; line-height: 150%;">“This partnership with First Federal is a great
fit for our customers and the communities we serve,” said Mike Sanchez, Chairman
& CEO of Coastal Banking Company, Inc. “Our team will be able to build on
the strength and stability of First Federal and work together in providing our
customers with the convenience of 16 additional branch locations and a greater
level of service and benefits.”<o:p></o:p></span></div>
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<span style="font-family: "kepler std" , serif; font-size: 12.0pt; line-height: 150%;">Hovde Group LLC served as financial advisor to
FFBI and Smith Mackinnon, PA and Reznicsek, Shaw, Shaffer & Jeans provided
legal counsel to FFBI. The Burke Group
LLC served as financial advisor to CBCO and Bryan Cave, LLP served as legal
counsel.<o:p></o:p></span></div>
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<span style="font-family: "kepler std" , serif; font-size: 12.0pt; line-height: 150%;">First Federal Bank of Florida is a community
bank founded in the heart of North Florida in 1962. Today, First Federal is a
$1.5 billion-asset institution offering a full line of personal and business
financial solutions, loans, and services from Florida’s Panhandle to the First
Coast. First Federal is a mutual savings bank and continues to receive a
“5-Star, Superior” financial rating from BauerFinancial, Inc., of Coral Gables,
FL. For more information, visit www.ffbf.com. <o:p></o:p></span></div>
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<b><i><span style="font-family: "kepler std" , serif; font-size: 12.0pt; line-height: 150%;">Important Information for Investors and
Shareholders<o:p></o:p></span></i></b></div>
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<i><span style="font-family: "kepler std" , serif; font-size: 12.0pt; line-height: 150%;">This
communication relates to the proposed merger transaction involving FFBI, First
Federal, CBCO, and CBC and does not constitute an offer to sell or the
solicitation to buy any securities or solicitation of any vote or proxy. A definitive proxy statement will be mailed
to shareholders of CBCO. <b>Before making any voting or investment
decision, investors and security holders of CBCO are urged to read the proxy
statement and other documents in their entirety when they become available
because they will contain important information about FFBI, First Federal, CBCO
and CBC. </b>Investors and security
holders will be able to obtain free copies of the proxy statement (when
available) and other documents from CBCO, copies of which will be available
free of charge on CBCO’s website or by contacting CBCO.<o:p></o:p></span></i></div>
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<i><span style="font-family: "kepler std" , serif; font-size: 12.0pt; line-height: 150%;">FFBI,
First Federal, CBCO and CBC, their respective directors and executive officers
and other members of management and employees may be considered participants in
the solicitation of proxies in connection with the proposed transaction. Information on the directors and executive
officers of CBCO is set forth in its proxy statement for its 2017 annual
meeting of shareholders, which was posted on CBCO’s website. Other information regarding the participants
and the proxy solicitation and a description of their direct and indirect interests,
by security holdings or otherwise, will be contained in the proxy statement and
other relevant materials to be posted on CBCO’s website when they become
available.<o:p></o:p></span></i></div>
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<em><b><span style="border: none 1.0pt; font-family: "kepler std" , serif; font-size: 10.5pt; line-height: 150%; padding: 0in;">Cautionary Notice Regarding Forward-Looking
Statements</span></b></em><span style="font-family: "kepler std" , serif; font-size: 10.5pt; line-height: 150%;"><o:p></o:p></span></div>
<br />
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<em><span style="border: none 1.0pt; font-family: "kepler std" , serif; font-size: 10.5pt; line-height: 150%; padding: 0in;">This
communication contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, and is intended to be protected by the safe
harbor provided by the same. Forward-looking statements can be identified by
the use of the words "anticipate," "expect,"
"intend," "estimate," "target," and words of
similar import. Forward-looking statements are not historical facts but instead
express only management's beliefs regarding future results or events, many of
which, by their nature, are inherently uncertain and outside of management's
control. It is possible that actual results and outcomes may differ, possibly
materially, from the anticipated results or outcomes indicated in these
forward-looking statements. Risks and uncertainties to which these statements
are subject include, but are not limited to, the following:; the timing to
consummate the proposed merger; the risk that a condition to closing of the
proposed merger may not be satisfied; the parties' ability to achieve the
synergies and value creation contemplated by the proposed merger; the parties'
ability to promptly and effectively integrate the businesses of First Federal
and Coastal; the diversion of management time on issues related to the merger;
the failure to consummate or delay in consummating the merger for other
reasons; changes in laws or regulations; and changes in general economic
conditions. No assurances can be given
that any of the events anticipated by the forward-looking statements will
transpire or occur, or if any of them do so, what impact they will have on the
results of operations or financial condition of First Federal and Coastal.
Forward-looking statements are made only as of the date of this communication,
and neither First Federal nor Coastal undertakes any obligation to update any
forward-looking statements contained herein to reflect events or conditions
after the date hereof.</span></em><span style="font-family: "kepler std" , serif; font-size: 12.0pt; line-height: 150%;"><o:p></o:p></span></div>
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</v:shape><![endif]--><!--[if !vml]--><span style="mso-ignore: vglayout; position: relative; z-index: 251658240;"><span style="height: 71px; left: -6px; left: 0px; position: absolute; top: -4px; width: 249px;"><img height="71" src="file:///C:/Users/mbrooks/AppData/Local/Temp/msohtmlclip1/01/clip_image002.jpg" v:shapes="Picture_x0020_5" width="249" /></span></span><!--[endif]--><b><span style="font-family: "karla";">Nina Heringer</span></b><span style="font-family: "karla";"><br />
Director of Marketing<br />
(386) 755-0600, ext. 3156<o:p></o:p></span></div>
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<span style="font-family: "karla";">M:
(386) 697-6491<br />
heringern@ffbf.com<o:p></o:p></span></div>
</div>
Anonymoushttp://www.blogger.com/profile/00868845588375779671noreply@blogger.comtag:blogger.com,1999:blog-5379380174916173554.post-40803508163993163032017-10-30T17:12:00.004-04:002017-10-30T17:12:50.181-04:00Coastal Banking Company Reports Strong Third Quarter 2017 Earnings<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiO_0OAgbEqFqUdD8YCT6w7oSzoL7CaTrKOEn6qXyXq40bdmALh4_0bqL8Gnd9tCxRIe0XSg70bxlDBdeY3TT7XNtdokinNFCzVevzENGCk6m9GT8meNDkZltkbaOESoVQe3H49j9hlL5T7/s1600/CBCO+Q3+Earnings+2017.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="836" data-original-width="1600" height="167" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiO_0OAgbEqFqUdD8YCT6w7oSzoL7CaTrKOEn6qXyXq40bdmALh4_0bqL8Gnd9tCxRIe0XSg70bxlDBdeY3TT7XNtdokinNFCzVevzENGCk6m9GT8meNDkZltkbaOESoVQe3H49j9hlL5T7/s320/CBCO+Q3+Earnings+2017.jpg" width="320" /></a></div>
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Coastal Banking Company Reports Strong Third Quarter 2017 Earnings<br />
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BEAUFORT, SC / ACCESSWIRE / October 30, 2017 / Coastal Banking Company Inc. (OTCQX: CBCO) (the "Company"), the holding company of CBC National Bank, which operates branches in Beaufort and Port Royal, S.C., and in Fernandina Beach, Ocala, and The Villages, Fla., today reported net income of $1.71 million, or $0.45 diluted earnings per common share, for the three months ended Sept. 30, 2017.<br />
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This compares to $1.99 million, or $0.54 in diluted earnings per common share, for the third quarter of 2016, a decrease of $280,000. On a linked-quarter basis, the $1.71 million of net income in the third quarter of 2017 decreased from second quarter 2017 net income of $2.11 million, or $0.55 diluted earnings per common share. The third quarter of 2016 and the second quarter of 2017 represented two of the three highest net income quarters in the Company's history.<br />
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For the first nine months ending Sept. 30, 2017, the Company reported net income of $5.27 million, or $1.38 diluted earnings per common share, an increase of $520,000 over the net income for the first nine months of 2016 of $4.75 million, or $1.45 diluted earnings per common share. The increase in 2017 year-to-date earnings over 2016, and the slight decline in diluted earnings per share, reflect the effects of the Company's April 2016 acquisition of First Avenue National Bank in Ocala, Florida.<br />
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To Read Full Release: <a href="http://www.coastalbanking.com/reports--news---filings.html" target="_blank">Click Here</a><br />
<br />
About Coastal Banking Company Inc. Coastal Banking Company Inc. is the $650.8 million-asset bank holding company of CBC National Bank, headquartered in Fernandina Beach, Fla., which provides a full range of consumer and business banking services through full-service banking offices in Fernandina Beach, Ocala, and The Villages, Fla., and Beaufort and Port Royal, S.C. The company's residential mortgage banking division, headquartered in Atlanta, includes both traditional retail and wholesale lending groups, which together have lending offices in Florida, Georgia, Maryland, South Carolina, North Carolina, Illinois, Ohio, and Tennessee. The company's SBA lending division operates under SBA's delegated authority, originating SBA, USDA and FSA loans throughout the southeastern United States. Headquartered in Fernandina Beach, its offices are located in Jacksonville, Ft. Myers, Tampa and Vero Beach, Fla., Greensboro, NC, Atlanta and Tifton, Ga., and Beaufort. The company's common stock is publicly traded on the OTCQX Best Market under the symbol CBCO. The company was named to the OTCQX® Best 50 in both 2015 and 2016, an annual ranking of the top 50 U.S. and international companies traded on the OTCQX Best Market, based on equal weighting of one-year return and average daily dollar volume growth.Anonymoushttp://www.blogger.com/profile/00868845588375779671noreply@blogger.comtag:blogger.com,1999:blog-5379380174916173554.post-88362241650211245672017-09-26T10:00:00.002-04:002017-09-26T10:00:16.133-04:00CBC National Bank’s SBA/USDA Lending Division Surpasses $300 Million Milestone in Loans to Small Businesses<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEguLru3A18zCsY9ILSs5mWkCQqGtontz3aTeYSgQJrCq8Kg-tZbhd9Hvqaamz-8ZisO-b7YmlwUIZ7AH3g0pxsmBWDmpzjVtU2VWPIwbTm8im8vDn4yOLbIBAav4xzv15GvqaSlpryojCQw/s1600/SBA+300+Million+Milestone.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="836" data-original-width="1600" height="208" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEguLru3A18zCsY9ILSs5mWkCQqGtontz3aTeYSgQJrCq8Kg-tZbhd9Hvqaamz-8ZisO-b7YmlwUIZ7AH3g0pxsmBWDmpzjVtU2VWPIwbTm8im8vDn4yOLbIBAav4xzv15GvqaSlpryojCQw/s400/SBA+300+Million+Milestone.jpg" width="400" /></a></div>
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<b>FERNANDINA BEACH, Fla., September 26, 2017</b>
– CBC National Bank, headquartered in Fernandina Beach and with branches in
Fernandina Beach, Ocala and The Villages, Fla., and Beaufort and Port Royal,
S.C., today announced that in June its SBA lending division surpassed the $300
million mark in loans to small businesses. As of June 30, it had reached $314
million.<o:p></o:p></div>
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CBC’s SBA lending
division continues to grow and expand its capacity to provide small businesses across
the Southeast the vital lending needed to spur economic growth and development.
In the second quarter of 2017, the division originated $7.7 million in loans,
compared to $5.2 million in the second quarter of 2016.<o:p></o:p></div>
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CBC continues to
be recognized as one of the U.S. Small Business Administration’s highest ranked
community bank lenders in Florida, recently ranking No. 2 in total dollar volume
and number of loans. CBC has also bolstered its government guaranteed lending
group in 2017, with specific focus on United States Department of Agriculture (USDA)
Business and Industry loans. <o:p></o:p></div>
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Through the USDA program,
CBC can offer commercial and small business loans for most types of businesses,
as well as investment properties, multi-use office complexes, etc. If the loan
recipient meets necessary criteria, the loan is guaranteed by the federal
government. <o:p></o:p></div>
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“We continue to
strengthen our SBA lending division in order to serve small businesses across
the Southeast by providing them the capital they need to grow their businesses,”
said Durand Childers, president of CBC’s SBA lending division. “Building our
government guaranteed lending group to now include USDA Business and Industry loans
allows us to offer a more diversified lending product specific to the small
businesses in the communities we serve.”<o:p></o:p></div>
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More Info At: <a href="http://www.cbcsmallbizloans.com/">www.cbcsmallbizloans.com</a></div>
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Anonymoushttp://www.blogger.com/profile/00868845588375779671noreply@blogger.comtag:blogger.com,1999:blog-5379380174916173554.post-40022696639158310192017-07-31T09:06:00.000-04:002017-07-31T09:06:03.231-04:00Coastal Banking Company Reports Strong Second Quarter 2017 Earnings<div class="separator" style="clear: both; text-align: center;">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg8Ukr5f2NVe-9RTyQWgh-uTd-oop6dMgSDHWSh9vJZXRHR6ZV0algyiDcX3clmluFvNE3cU2nw8UQRqyW8hMRpahCh-Y8QX_nd_qND3zmDBLtDzCYAkGgVdNnfSRJvf72f9lXp3muYA6MB/s1600/CBCO+Q2+Earnings+2017.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="836" data-original-width="1600" height="167" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg8Ukr5f2NVe-9RTyQWgh-uTd-oop6dMgSDHWSh9vJZXRHR6ZV0algyiDcX3clmluFvNE3cU2nw8UQRqyW8hMRpahCh-Y8QX_nd_qND3zmDBLtDzCYAkGgVdNnfSRJvf72f9lXp3muYA6MB/s320/CBCO+Q2+Earnings+2017.jpg" width="320" /></a></div>
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<b>BEAUFORT, S.C., July 31, 2017</b> – Coastal
Banking Company Inc. (OTCQX:CBCO) (the “Company”), the holding company of CBC
National Bank, which operates branches in Beaufort and Port Royal, S.C., and in
Fernandina Beach, Ocala, and The Villages, Fla., today reported net income of $2.11
million, or $0.55 diluted earnings per common share, for the three months ended
June 30, 2017. This compares to $1.54 million, or $0.46 in diluted earnings per
common share, for the second quarter of 2016, an increase of $570,000. The diluted
earnings per common share for both quarters reflect the acquisition of First
Avenue National Bank (“FANB”) in Ocala, Florida, in early April 2016.<o:p></o:p></div>
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On a linked-quarter
basis, the $2.11 million of net income in the second quarter of 2017 increased
significantly from first quarter 2017 net income of $1.45 million, or $0.38
diluted earnings per common share. <o:p></o:p></div>
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For the first six
months ending June 30, 2017, the Company reported net income of $3.56 million,
or $0.94 diluted earnings per common share, an increase of $790,000 over the
net income for the first six months of 2016 of $2.77 million, or $0.90 diluted
earnings per common share.<o:p></o:p></div>
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<a href="http://www.coastalbanking.com/reports--news---filings.html" target="_blank"><br /></a></div>
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<a href="http://www.coastalbanking.com/reports--news---filings.html" target="_blank">Read More: Click Here To Read Full Release</a></div>
Anonymoushttp://www.blogger.com/profile/00868845588375779671noreply@blogger.comtag:blogger.com,1999:blog-5379380174916173554.post-4946893932343530622017-07-25T09:34:00.000-04:002017-07-25T09:34:27.358-04:00CBC National Bank Hires Michael Oppel in the Bank’s SBA Lending Division<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj7lHPeJi0iNNSyk_5j59HSyzajJ0GVhSmNEcpAouIjHMtX3EvziA1opmuZPu5B6l7ZtdaQz50EwOSUI8WcM-54HYPILnE_wXL2sISpsTjBcx95CGGDKL4Q-CRPW6TzJ39KXoSqBh00dIGt/s1600/MichaelOppel+SBA+USDA+Lender.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="836" data-original-width="1600" height="167" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj7lHPeJi0iNNSyk_5j59HSyzajJ0GVhSmNEcpAouIjHMtX3EvziA1opmuZPu5B6l7ZtdaQz50EwOSUI8WcM-54HYPILnE_wXL2sISpsTjBcx95CGGDKL4Q-CRPW6TzJ39KXoSqBh00dIGt/s320/MichaelOppel+SBA+USDA+Lender.jpg" width="320" /></a></div>
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FERNANDINA BEACH, Fla., July 25, 2017 – CBC National Bank, headquartered in Fernandina Beach and with branches in Fernandina Beach, Ocala and The Villages, Fla., and Beaufort and Port Royal, S.C., today announced the hiring of Michael Oppel in its SBA lending division.<br />
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Oppel is joining CBC as a lender in the SBA division’s government guaranteed lending group. He will work as an SBA and government guaranteed lender with specific focus on United States Department of Agriculture (USDA) Business and Industry loans. His lending will focus on the geographic areas of the southeastern United States.<br />
<br />
Oppel joins Richard Duncan, vice president of USDA lending for CBC National Bank, in the growing government guaranteed lending group. The USDA lending program is intended to bolster economic stability and development in rural areas. Through the program, CBC can offer commercial and small business loans not just for farming operations but for most types of businesses, as well as investment properties, multi-use office complexes, etc. If the loan recipient meets necessary criteria, the loan is guaranteed by the federal government.<br />
<br />
Prior to CBC, Oppel garnered portfolio management, credit analysis, USDA lending, and underwriting experience in several financial industry and banking positions. He earned both bachelor’s and master’s degrees in business administration from Valdosta State University.<br />
“We look forward to Michael’s contributions in helping grow our government guaranteed lending group and expand our services in USDA lending,” said Durand Childers, president of CBC’s SBA lending division. “Our ability to offer USDA loans and the expertise to process them in-house are great benefits to both existing businesses and start-ups that may seek out the program’s numerous<br />
advantages in comparison to conventional loans.”<br />
<br />
CBC National Bank continued to thrive in SBA lending in 2016, with SBA portfolio loans<br />
growing $25.3 million from 2015 levels. CBC has been recognized as one of the U.S. Small<br />
Business Administration’s (SBA) highest ranked community bank lenders in Florida, recently<br />
ranking No. 2 in total dollar volume and number of loans.Anonymoushttp://www.blogger.com/profile/00868845588375779671noreply@blogger.comtag:blogger.com,1999:blog-5379380174916173554.post-37672810528103206492017-06-16T11:05:00.000-04:002017-06-16T11:05:09.642-04:00Coastal Banking Announces John Q. Adams to Succeed James "Jim" C. Key<div class="separator" style="clear: both; text-align: center;">
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John Q. Adams appointed to Chairman of the Audit Committee. Mr. Adams succeeds James C. Key, an 18-year veteran of the board and former chairman of the audit committee. Jim passed away on June 2nd, 2017.<br />
<br />
"John's financial and industry expertise combined with his past audit experience make him an excellent choice to chair the audit committee," said Michael Sanchez, Chairman & CEO of Coastal Banking Company, Inc. "We look forward to his contributions in this important role."<br />
<br />
John Q. Adams II, 53, Class III Director, is one of two directors appointed to the Board of Directors in 2016, upon consummation of the merger of April 2016 merger of First Avenue National Bank ("First Avenue") with and into CBC National Bank. Mr. Adams was a founding director of First Avenue and served as its chairman for four years. He also chaired the First Avenue Audit, Loan and Executive Committees and served on the Asset-Liability Committee (ALCO) from First Avenue's inception through the merger. Mr. Adams is a licensed certified public accountant practicing in Florida and is the owner/principal of the public accounting firm of Adams & Company, P.A. In 1994, he graduated with a master's degree in accountancy from the University of Central Florida and completed the CPA exam. He is a longtime member of the American Institute of Certified Public Accountants and the Florida Institute of Certified Public Accountants. Mr. Adams has a long history of community leadership, serving on several boards, including The Arnette House and the Marion County Family YMCA.<br />
<br />
Read Full Release at: http://www.coastalbanking.com/Anonymoushttp://www.blogger.com/profile/00868845588375779671noreply@blogger.comtag:blogger.com,1999:blog-5379380174916173554.post-59323693995749153602017-06-15T12:39:00.004-04:002017-06-15T13:21:40.502-04:00Coastal Banking Remembers Board Member James "Jim" C. Key <div style="text-align: center;">
Coastal Banking Announces Death of Board Member James "Jim" C. Key </div>
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<br />
BEAUFORT, SC / ACCESSWIRE / June 13, 2017 / Coastal Banking Company Inc. (OTCQX: CBCO) Board
of Directors announces the passing of Jim Key, a valued member of the company's board of directors. Jim passed
away on June 2nd, 2017.<br />
<br />
"Jim was an inspiring leader and friend," said Michael Sanchez, Chairman & CEO of Coastal Banking Company,
Inc.. He brought great value and a wealth of knowledge to our company and he will be greatly missed."<br />
<br />
James C. Key, Class I Director, had served as a director of Coastal since 1999. Jim was Chairman of the Audit
Committee and a member of the Corporate Governance & Nominating Committee. He was the managing partner
of Shenandoah Group, LLP, a firm providing governance, risk management, and compliance (GRC) solutions for
a wide variety of clients in business, government, education, and multilaterals since 1997. Mr. Key served as
director-internal audit for North America and Asia Pacific at IBM Corporation in Armonk, New York, until he
retired in 1997. He was a certified internal auditor and held a certification in risk management assurance.
Additionally, Mr. Key was active in The Institute of Internal Auditors since 1991. He graduated from Syracuse
University with a degree in liberal studies and completed graduate work at the Maxwell School of Citizenship and
Public Affairs, Syracuse University. Mr. Key was immediate past president of the Southeast District of the
Unitarian Universalist Association (UUA) of Congregations in Charlotte, North Carolina and chaired the audit
committee of the board of trustees of the National UUA organization. He was elected to a single six-year term as
moderator and chief governance officer of the National UUA in 2013. In that role, he chaired the board of
trustees, presided over annual meetings, and met with congregations across the countryAnonymoushttp://www.blogger.com/profile/00868845588375779671noreply@blogger.comtag:blogger.com,1999:blog-5379380174916173554.post-88643741166560162592017-05-09T10:10:00.002-04:002017-05-09T10:10:50.211-04:002016 Annual Report - Digital Edition - Now Available!<div class="MsoNormal">
<span style="color: #1f497d;"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiKhwyqvENQPT-cTds1VhTyyAXwwy_E509ySDqSUTrbCl-LxWf1UEZNiAGD9bBkin8Hf4dd7qeZNoaDC0FdAuJgc_-I2dZOo3QmsnbqDhlDr-KEva_HogJwKRj1ygqiNhEOrnu1PPR6yKXu/s1600/CBCO+2016+Annual+Report+Available+For+Download.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="167" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiKhwyqvENQPT-cTds1VhTyyAXwwy_E509ySDqSUTrbCl-LxWf1UEZNiAGD9bBkin8Hf4dd7qeZNoaDC0FdAuJgc_-I2dZOo3QmsnbqDhlDr-KEva_HogJwKRj1ygqiNhEOrnu1PPR6yKXu/s320/CBCO+2016+Annual+Report+Available+For+Download.jpg" width="320" /></a></div>
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<span style="color: #1f497d;">“Creating shareholder value is a
driving force for our Company and the true measure of our success. To
accomplish that objective, our Company regularly updates and follows our
Strategic Plan to help meet our overarching goals. Without that compass to
direct us, and without our capable leaders’ steady guidance, we would simply be
another banking company plodding along where the economy takes us.<o:p></o:p></span></div>
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<span style="color: #1f497d;">“Instead, we plot our own
course, we update that course as needed, we ensure that we have the best
leaders in the correct positions to help us get where we’re going, and we have
a definitive destination in mind.<o:p></o:p></span></div>
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<span style="color: #1f497d;">“In 2016 we crafted an entirely
new Strategic Plan for 2017-2019 to update our prior three-year plan. The new
Plan states that our goal is a superior return on equity compared to our
peers. Before turning the page to 2017, we also completed our annual budget,
did a health-check on the capacity of our leaders and systems, and analyzed our
financial reporting, operating and competitive landscape.” <o:p></o:p></span></div>
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<span style="color: #1f497d;">– Michael G. Sanchez, Chairman
& CEO, Coastal Banking Co., Inc.<o:p></o:p></span></div>
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<br />
<div class="MsoNormal">
<span style="color: #1f497d;">Read more in the Letter to
Shareholders, and see our financial highlights for the year, in the 2016
Coastal Banking Co., Inc., annual report, now available in digital version at <a href="https://protect-us.mimecast.com/s/NVv6B5UY5GDi4">http://www.coastalbanking.com/</a>
<o:p></o:p></span></div>
Anonymoushttp://www.blogger.com/profile/00868845588375779671noreply@blogger.comtag:blogger.com,1999:blog-5379380174916173554.post-42494458865735522792017-05-03T08:50:00.000-04:002017-05-03T08:50:40.658-04:00Coastal Banking Company Reports First Quarter 2017 Earnings<div style="text-align: center;">
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Coastal Banking Company Reports First Quarter 2017 Earnings </div>
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BEAUFORT, SC / ACCESSWIRE / May 2, 2017 / Coastal Banking Company Inc. (OTCQX: CBCO), the
holding company of CBC National Bank, which operates branches in Beaufort and Port Royal, S.C., and in
Fernandina Beach, Ocala, and The Villages, Fla., today reported net income of $1.45 million, or $0.38 diluted
earnings per common share, for the three months ended March 31, 2017. This compares to $1.22 million, or $0.44
in diluted earnings per common share, for the first quarter of 2016, an increase of $230,000. The decline in diluted
earnings per common share was due to the additional common shares issued in April 2016 for the acquisition of
First Avenue National Bank (FANB) in Ocala, Fla</div>
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On a linked-quarter basis, the $1.45 million of net income in the first quarter of 2017 declined from fourth-quarter
2016 net income of $2.21 million, or $0.59 diluted earnings per common share. Coupled with the uncertainty
surrounding interest rates in the first quarter of 2017, Coastal's mortgage segment historically experiences lower
volume during the first quarter consistent with the industry.</div>
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Key performance highlights for the first quarter of 2017 include:</div>
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</div>
<ul>
<li>Continued strong profitability. First-quarter 2017 net income increased by 18.9 percent over the first
quarter of 2016. First quarter results featured more balanced net income for all three of the Company's
operating segments: Community Banking earned $812,000 in 2017's first quarter, up from $528,000 in
2016, SBA Lending earned $638,000 in 2017, up from $354,000 earned in 2016, and Mortgage Banking
earned $574,000 in 2017, down from $760,000 in 2016. All three segments outperformed the Company's
2017 budget for the first quarter</li>
<li>Continued shareholder value creation. Driven by strong earnings over the last five quarters, book value
per share has risen to $14.58 per share at March 31, 2017, from $14.18 per share at Dec. 31, 2016, and
$12.88 at March 31, 2016. The CBCO closing market price on March 31, 2017, was $17.20, up from
$15.01 at Dec. 31, 2016.</li>
<li>Increased mortgage banking income on lower volume. For the first quarter of 2017, $346.6 million in
residential mortgage loans were sold and $3.41 million in total mortgage banking income generated,
down in volume from $379.7 million, but up in income from $2.93 million, from the first quarter of 2016.
Mortgage banking generated enhanced yields on sold loans in first-quarter 2017 compared to the same
period in 2016 as a result of strategic changes in its loan origination mix.</li>
<li>Strong SBA originations and loan sales. For the first quarter of 2017, SBA Lending originated $10.3
million in loans and sold $8.9 million into the secondary market. The balance of SBA loans available for
sale at March 31, 2017, has grown to $38 million.</li>
<li>Robust balance sheet and Community Banking loan growth. Year-over-year growth in the balance sheet
of $87.8 million, or 18.5 percent, with total assets of $562.6 million at March 31, 2017. The asset growth
was driven by increased portfolio loan balances and the FANB acquisition. Since March 31, 2016, SBA
portfolio loans grew $8.2 million and Community Banking portfolio loans grew $95.2 million, of which
$81.4 million were added as part of the acquisition. The growth in portfolio loans was offset by a decline
in loans held for sale of $28.5 million from March 31, 2016, to March 31, 2017.</li>
<li>Strong quarterly and year-over-year deposit growth. Deposits have grown from $319.8 million at March
31, 2016, to $431.7 million at March 31, 2017, an increase of 35.0 percent. During the first quarter of
2017, deposits grew by $14.4 million, predominantly in non-interest bearing and low-cost NOW
accounts.</li>
<li>Steady credit quality. Related to credit quality, the ratio of non-performing assets to assets decreased from
1.73 percent at March 31, 2016, to 1.50 percent at March 31, 2017. The ratio was 1.98 percent at Dec. 31,
2016. The allowance for loan losses was 1.39 percent of loans outstanding (excluding loans held for sale)
at the end of March 2017, slightly down from 1.48 percent at the end of March 2016. The allowance for
loan losses was 1.47 percent at Dec. 31, 2016. Other real estate owned (OREO) declined $1.3 million, or
21.2 percent, from March 31, 2016, to March 31, 2017. Net charge-offs were $667,000 for the first three
months of 2017 compared to net charge-offs of $869,000 for the first three months in 2016.</li>
<li>Strong capital ratios. Capital ratios for the Company remained strong, with a total risk-based capital ratio
of 20.83 percent and a Tier 1 risk-based capital ratio of 19.56 percent at March 31, 2017, up from 20.11
percent and 19.21 percent, respectively, at March 31, 2016.</li>
<li>Continued steady efficiency ratio. The Company's efficiency ratio for the first quarter of 2017 was 73.2
percent, compared to 74.3 percent for first-quarter 2016. The Company's efficiency ratio for the year 2016
was 70.5 percent.</li>
</ul>
<div>
To Read Entire 1st Qtr Earnings Release Go To:</div>
<div>
<a href="http://www.coastalbanking.com/reports--news---filings.html">http://www.coastalbanking.com/reports--news---filings.html</a></div>
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Anonymoushttp://www.blogger.com/profile/00868845588375779671noreply@blogger.comtag:blogger.com,1999:blog-5379380174916173554.post-44381594062066226582017-01-19T11:00:00.000-05:002017-01-19T11:00:22.700-05:00CBC National Bank Announces the Hiring of Mitchell Smith As Chief Credit Officer<div class="MsoNormal" style="line-height: 150%; tab-stops: 315.0pt;">
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<b>FERNANDINA BEACH, Fla., Jan. 19, 2017</b> –
CBC National Bank, headquartered in Fernandina Beach and with branches in
Fernandina Beach, Ocala and The Villages, Fla., and Beaufort and Port Royal,
S.C., today announced the hiring of veteran banker Mitchell Smith as executive
vice president and chief credit officer.<o:p></o:p></div>
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<br /></div>
<div class="MsoNormal" style="line-height: 150%; tab-stops: 315.0pt;">
Smith is
replacing CBC’s long-time chief credit officer, who has taken a different
position with the company.<o:p></o:p></div>
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<br /></div>
<div class="MsoNormal" style="line-height: 150%; tab-stops: 315.0pt;">
Smith brings 27
years of community banking experience to CBC. Before joining the bank, Smith served
most recently for 10 years as chief credit officer of HeritageBank of the South
in Albany, Ga., establishing the bank’s loan policy and directing robust loan
growth while ensuring strong asset quality as it grew to a $1.8 billion bank.
Before that, he served as senior credit officer of ABC Bancorp in Moultrie,
Ga., and as executive vice president of Security Bank and Trust Company in
Albany, among other positions.<o:p></o:p></div>
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<br /></div>
<div class="MsoNormal" style="line-height: 150%; tab-stops: 315.0pt;">
Smith is a
graduate of the Center of Authentic Leadership and the Graduate School of
Banking of the South. He earned a BS in biology from Valdosta State College and
did graduate studies in accounting and management at Augusta State College and
Georgia State University.<o:p></o:p></div>
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“Mitchell Smith
brings a wealth of valuable credit management and leadership experience to
CBC,” said Charles Wagner, president of CBC National Bank. “He has been instrumental
throughout his career in ensuring that his banks have operated in a safe and
efficient manner, and he will infuse our organization with that same strong
credit culture and operational safety and security.”<o:p></o:p></div>
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<b>About CBC National Bank<o:p></o:p></b></div>
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CBC National Bank, headquartered in
Fernandina Beach, Fla., provides a full range of consumer and business banking
services through full-service banking offices in Fernandina Beach, Ocala and
The Villages, Fla., and Beaufort and Port Royal, S.C. The company’s residential
mortgage banking division, headquartered in Atlanta, includes traditional
retail and wholesale lending, as well as a National Retail Group that has lending
offices in Florida, Georgia, Maryland, Michigan, Indiana, Illinois and Ohio.
The company’s government guaranteed lending division originates SBA loans
primarily in Jacksonville, Ft. Myers, Tampa and Vero Beach, Fla., Greensboro,
N.C., Atlanta and Beaufort. For more information, please visit CBC National
Bank’s website, <a href="http://www.cbcnationalbank.com/">www.cbcnationalbank.com</a>.<o:p></o:p></div>
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<br /></div>
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<b>About Coastal Banking Company
Inc. <o:p></o:p></b></div>
<br />
<div class="MsoNormal" style="line-height: 150%;">
Coastal Banking Company Inc.,
headquartered in Beaufort, S.C., is the $613.0 million-asset bank holding
company of CBC National Bank. The company's common stock is publicly traded on
the OTCQX Markets under the symbol CBCO. For more information, please visit the
company's website, <a href="http://www.coastalbanking.com/">www.coastalbanking.com</a>.<o:p></o:p></div>
Anonymoushttp://www.blogger.com/profile/00868845588375779671noreply@blogger.comtag:blogger.com,1999:blog-5379380174916173554.post-57190331587973236352016-11-04T09:09:00.000-04:002016-11-04T09:09:33.783-04:00Coastal Banking Company Reports Third Quarter 2016 Earnings<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjXGDs9x1DHPpFx3yFTPESBeGXSlBr4f77OKo2LTWUe8Bp44z_dY5MXQBc1kOoeYolPZ9pbQq2_GAddbl6FoCtt3xamI4u7PhRo-OhxpYQB9rrJIWZ4A_Obk7ryWyRjN-zZHa8-vvqvYuFD/s1600/CBCO+Q3+Earnings.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="167" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjXGDs9x1DHPpFx3yFTPESBeGXSlBr4f77OKo2LTWUe8Bp44z_dY5MXQBc1kOoeYolPZ9pbQq2_GAddbl6FoCtt3xamI4u7PhRo-OhxpYQB9rrJIWZ4A_Obk7ryWyRjN-zZHa8-vvqvYuFD/s320/CBCO+Q3+Earnings.jpg" width="320" /></a></div>
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Coastal Banking Company Reports Third Quarter 2016 Earnings</div>
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Key highlights from the third quarter of 2016 include:</div>
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</div>
<ul>
<li>Completion of the integration of First Avenue National Bank, acquired in April 2016.</li>
<li>Continued strong profitability growth, with third quarter 2016 net income increasing by 28.5 percent over the second quarter of 2016, with strong and more balanced net income for all three of the Company’s operating divisions: Community Banking, SBA Lending and Mortgage Banking.</li>
<li>Driven by strong earnings over the last four quarters, common tangible book value has risen to $12.98 per share at Sept. 30, 2016, from $11.38 at Sept. 30, 2015, an increase of $1.60 per share, or 14.1 percent.</li>
<li>Continuation of robust mortgage banking funding and profitability, with more than $886.3 million in residential mortgage loans originated and $21.0 million in mortgage banking income during the quarter, up from $614.8 million and $13.4 million, respectively, for the third quarter of 2015.</li>
<li>Year-over-year growth in the balance sheet of $174.3 million, or 39.7 percent, with total assets of $613.0 million at Sept. 30, 2016, driven by rising balances of SBA portfolio loans, increased residential mortgage loans available for sale and the related loan sales receivable, and the addition of First Avenue National Bank.</li>
<li>Continued strong net interest margin for the third quarter of 2016 of 3.76 percent, compared to 3.95 percent for the second quarter of 2016 and 3.98 percent for the third quarter of 2015.</li>
<li>Other real estate owned (OREO) of $5.5 million, a slight increase by $400,000, or 7.4 percent, from the second quarter of 2016, but a decline of $800,000, or 12.7 percent, from Sept. 30, 2015.</li>
<li>Capital ratios at CBC National Bank remaining strong, with a total risk-based capital ratio of 20.92 percent and a Tier 1 risk-based capital ratio of 19.66 percent at Sept. 30, 2016.</li>
</ul>
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<span style="color: #444444; font-family: "helvetica neue" , "helveticaneue" , "helvetica" , "arial" , sans-serif;"><span style="font-size: 14px;">For the full text of the earnings release and complete unaudited interim financial results go to http://www.coastalbanking.com/reports--news---filings.html</span></span></div>
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For More Information Contact:<br />
Thomas J. Flournoy<br />
EVP & Chief Financial Officer<br />
Coastal Banking Company Inc.<br />
904-321-2917</div>
Anonymoushttp://www.blogger.com/profile/00868845588375779671noreply@blogger.comtag:blogger.com,1999:blog-5379380174916173554.post-84129964833076062682016-08-30T09:16:00.003-04:002016-08-30T09:16:51.824-04:00Coastal Banking Company Inc. Elects Charles Wagner President and Thomas Flournoy EVP and Chief Financial Officer<div class="separator" style="clear: both; text-align: center;">
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<b>Coastal Banking Company Inc. Elects Charles Wagner President and Thomas Flournoy EVP and Chief Financial Officer</b><br />
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BEAUFORT, S.C., Aug. 30, 2016 – Coastal Banking Company Inc. (OTCQX:CBCO), the holding company of CBC National Bank, which operates branches in Beaufort and Port Royal, S.C., Fernandina Beach, Ocala, and The Villages, Fla., today announced that its board of directors has elected Charles Wagner president of the company and Thomas J. Flournoy executive vice president and chief financial officer.<br />
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Wagner has been president of CBC National Bank since June 2015 and directly oversees the bank’s mortgage division, human resources, information technology and operations, marketing, and strategic planning. He joined the company in 2007 as a founding leader of the bank’s mortgage division. Wagner also is a member of both the Coastal and CBC National Bank boards of directors.<br />
Michael G. Sanchez remains chief executive officer of both Coastal Banking Company Inc. and CBC National Bank, and chairman of both boards.<br />
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“The Coastal board’s management succession committee and governance committee spent 18 months planning the company’s management succession process before naming Charles Wagner president of CBC National Bank more than a year ago,” said Sanchez. “Since that time, Charles has continued to ably demonstrate the acumen and proven performance that led to our decision. Naming him president of Coastal Banking Company Inc. is a further step in the succession plan toward him assuming overall leadership of the company at the appropriate time.”<br />
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Flournoy recently joined Coastal as chief financial officer. He is a career banker with 35 years of community bank leadership of finance/accounting, audit and risk, operations and information technology teams.<br />
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“Tom Flournoy is a veteran chief financial officer who adds to the overall management strength of our company,” said Sanchez. “His deep experience, working in tandem with Charles Wagner, will serve as a valuable resource as we continue to focus on growing our company and enhancing shareholder value.”Anonymoushttp://www.blogger.com/profile/00868845588375779671noreply@blogger.comtag:blogger.com,1999:blog-5379380174916173554.post-1238371141512003462016-08-16T14:18:00.003-04:002016-08-16T14:18:32.715-04:00CBC National Bank’s Mortgage Division Surpasses $13 Billion Loan Production Milestone, Earns Additional Accolades<div class="separator" style="clear: both; text-align: center;">
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<b>FERNANDINA BEACH, Fla., Aug. 16, 2016</b> –
CBC National Bank, headquartered in Fernandina Beach and with branches in
Fernandina Beach, Ocala and The Villages, Fla., and Beaufort and Port Royal,
S.C., and with its mortgage banking division headquartered in Atlanta, today
announced that in June its mortgage division surpassed the $13 billion mark in
loan production.<o:p></o:p></div>
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CBC’s mortgage division
began operations in September 2007 utilizing a conservative, risk-averse
business model, originating primarily full-documentation, conforming mortgage
loans pre-sold into the secondary market. The division passed the $1 billion
mark in loan production in June 2009 and passed the $10 billion mark in June
2015. During the second quarter of 2016, the mortgage division continued to
achieve robust funding and profitability, with more than $551.7 million in
residential mortgage loans funded and $16.4 million in mortgage banking income
during the quarter.<o:p></o:p></div>
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In addition to
reaching the $13 billion loan production milestone, CBC’s mortgage division was
earlier named by the Atlanta Journal-Constitution one of the “Best Places to
Work – Atlanta” for the second consecutive year. For 2016 CBC ranked 54th out
of the 150 companies receiving this honor; in 2015 it ranked 63rd.<o:p></o:p></div>
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And CBC recently
learned that six of its mortgage bankers have been recognized individually as
among the Scotsman Guide’s Top Originators 2015 across categories including Top
VA Volume (ranking No. 13, 19, 46 and 58), Most Loans Closed (ranking No. 263)
and Top Dollar Volume (ranking No. 327). <o:p></o:p></div>
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“Our continued
growth and recognition is a testament to the quality of all of our associates during
our almost 9 years in business,” said Brynn Stensrud, executive vice president
and head of the mortgage division. “Our knowledgeable mortgage professionals continue
to share CBC’s overall passion and commitment to offering our customers the
best products and service available. We remain committed to the residential
markets in our home communities in Fernandina Beach, Ocala and The Villages, Beaufort
and Port Royal, and Atlanta, and we will continue to meet the purchase and
refinance needs of our customers while meeting their demands for great service
and products into the future. We likewise remain proud of the mortgage division’s
significant contributions to CBC National Bank’s earnings over the years.”<o:p></o:p></div>
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<b>About CBC National Bank<o:p></o:p></b></div>
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CBC National Bank, headquartered in
Fernandina Beach, Fla., provides a full range of consumer and business banking
services through full-service banking offices in Fernandina Beach, Ocala and
The Villages, Fla., and Beaufort and Port Royal, S.C. The company’s residential
mortgage banking division, headquartered in Atlanta, includes traditional
retail and wholesale lending, as well as a National Retail Group that has
lending offices in Florida, Georgia, Maryland, Michigan, Indiana, Illinois and
Ohio. The company’s government guaranteed lending division originates SBA loans
primarily in Jacksonville, Ft. Myers, Tampa and Vero Beach, Fla., Greensboro, N.C.,
Atlanta and Beaufort. For more information, please visit CBC National Bank’s
website, <a href="http://www.cbcnationalbank.com/">www.cbcnationalbank.com</a>.<o:p></o:p></div>
Anonymoushttp://www.blogger.com/profile/00868845588375779671noreply@blogger.comtag:blogger.com,1999:blog-5379380174916173554.post-28163391689590405242016-08-11T10:00:00.000-04:002016-08-16T15:01:11.674-04:00Coastal Banking Company Inc. Appoints Thomas Flournoy as Chief Financial Officer<div align="center" class="MsoNormal" style="text-align: center;">
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<b><span style="font-size: 16.0pt;">Coastal Banking Company Inc. Appoints </span></b></div>
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<b><span style="font-size: 16.0pt;">Thomas Flournoy as Chief Financial Officer<o:p></o:p></span></b></div>
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<b>BEAUFORT, S.C., Aug. 11, 2016</b> – 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., has appointed Thomas J. Flournoy as chief financial officer of the
company.<o:p></o:p></div>
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Flournoy is a career banker with 35
years of community bank leadership of finance/accounting, audit and risk, operations
and information technology teams. He will oversee all financial functions,
including accounting, treasury, financial reporting and budgeting, among other
duties. <o:p></o:p></div>
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“Tom Flournoy is a veteran chief financial
officer who has extensive experience helping growing community banks manage all
the fiscal and regulatory complexities of the marketplace, as well as the
executive leadership and interpersonal skills to flourish in the position,”
said Michael G. Sanchez, chairman and chief executive officer. “Tom’s deep
experience in mortgage banking and his focused risk management expertise make
him an exceptional fit for Coastal. His experience will be a valuable resource
as we continue to focus on growing our company and enhancing shareholder value.”<o:p></o:p></div>
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Flournoy has served as CFO or chief
operating officer of five community banks in Georgia, Indiana and Kentucky for the
past 14 years, following a 14-year tenure as controller of a large regional
bank in Indiana.<o:p></o:p></div>
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Most recently, Flournoy served as
senior vice president and CFO of First Bank of Georgia and Georgia-Carolina
Bancshares, Inc., based in Augusta, Ga.<o:p></o:p></div>
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<span style="line-height: 150%;">Flournoy earned a bachelor’s degree
in accounting from Ball State University, and he is a certified public
accountant.</span></div>
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<span style="line-height: 150%;">More Info at www.coastalbanking.com</span></div>
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Anonymoushttp://www.blogger.com/profile/00868845588375779671noreply@blogger.comtag:blogger.com,1999:blog-5379380174916173554.post-53965123032186844012016-08-08T08:49:00.000-04:002016-08-08T08:49:58.665-04:00Coastal Banking Company Reports Second Quarter 2016 Earnings<br />
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<b>Coastal Banking Company Reports Second Quarter 2016 Earnings</b></div>
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<b>BEAUFORT, S.C., Aug. 8, 2016</b> – Coastal
Banking Company Inc. (OTCQX:CBCO), the holding company of CBC National Bank,
which operates branches in Beaufort and Port Royal, S.C., Fernandina Beach, Ocala,
and The Villages, Fla., today reported net income of $1.5 million, or earnings
per diluted common share of $0.46, for the quarter ended June 30, 2016. <o:p></o:p></div>
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This compares to net
income of $1.6 million, or diluted earnings per common share of $0.51, in the
second quarter of 2015, a year-over-year decrease of $56,000, or diluted earnings
per common share of $0.05. <o:p></o:p></div>
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On a linked-quarter
basis, net income in the second quarter of 2016 represents an increase of $328,000,
or earnings per diluted common share of $0.02, from net income of $1.2 million,
or earnings per diluted common share of $0.44, in the first quarter of 2016.</div>
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<span style="line-height: 150%;">Key highlights
from the second quarter of 2016 include:</span></div>
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<li><span style="line-height: 150%; text-indent: -0.25in;">Completion of the acquisition of First Avenue
National Bank.</span><span style="line-height: 150%; text-indent: -0.25in;"> </span></li>
<li class="MsoNormal" style="line-height: 150%; mso-list: l0 level1 lfo1; tab-stops: list .5in left 315.0pt;">Continued strong profitability growth,
with second quarter net income increasing by 26.9 percent over the first
quarter. <o:p></o:p></li>
<li class="MsoNormal" style="line-height: 150%; mso-list: l0 level1 lfo1; tab-stops: list .5in left 315.0pt;">Non-interest bearing demand deposits
grew $27.5 million, or 62.6 percent, over the first quarter. <o:p></o:p></li>
<li class="MsoNormal" style="line-height: 150%; mso-list: l0 level1 lfo1; tab-stops: list .5in left 315.0pt;">Driven by strong earnings over the last
four quarters, common tangible book value has risen to $12.48 per share at
June 30, 2016, an increase of $1.63 per share, or 15 percent, during the
last year from $10.85 per share at June 30, 2015.<o:p></o:p></li>
<li class="MsoNormal" style="line-height: 150%; mso-list: l0 level1 lfo1; tab-stops: list .5in left 315.0pt;">Continuation of robust mortgage banking
funding and profitability, with more than $551.7 million in residential
mortgage loans funded and $16.4 million in mortgage banking income during
the quarter.<o:p></o:p></li>
<li class="MsoNormal" style="line-height: 150%; mso-list: l0 level1 lfo1; tab-stops: list .5in left 315.0pt;">Balance sheet expansion continued during
the quarter, up by $140.8 million, or 29.7 percent, with total assets
reaching $615.6 million, driven by rising balances of SBA portfolio loans,
residential mortgage loans available for sale and the related loan sales
receivable, as well as completing the acquisition of First Avenue National
Bank. <o:p></o:p></li>
<li class="MsoNormal" style="line-height: 150%; mso-list: l0 level1 lfo1; tab-stops: list .5in left 315.0pt;">Improving net interest margin for the
second quarter at 3.95 percent, up 6 basis points from the first quarter of
2016.<o:p></o:p></li>
<li class="MsoNormal" style="line-height: 150%; mso-list: l0 level1 lfo1; tab-stops: list .5in left 315.0pt;">Other real estate owned (OREO) of $5.1
million decreased by $1.2 million, or 19.0 percent, during the quarter and
$1.9 million, or 27.1 percent, from June 30, 2015.<o:p></o:p></li>
<li class="MsoNormal" style="line-height: 150%; mso-list: l0 level1 lfo1; tab-stops: list .5in left 315.0pt;">Capital ratios at CBC National Bank
remained strong, with a total risk-based capital ratio of 19.96 percent
and a Tier 1 risk-based capital ratio of 18.70 percent.<o:p></o:p></li>
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<span lang="EN">For the full text of the earnings
release and complete unaudited interim financial results</span></div>
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<span lang="EN" style="background-color: white;"><a href="http://www.coastalbanking.com/reports--news---filings.html" target="_blank"><span style="color: blue;"><b><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial;">[click here]</span>. </b></span></a></span><span style="background: yellow; mso-highlight: yellow;"><o:p></o:p></span></div>
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For More
Information: <o:p></o:p></div>
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Randy E. Graber Michael
G. Sanchez <o:p></o:p></div>
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Controller Chairman
& Chief Executive Officer<o:p></o:p></div>
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Coastal Banking
Company Inc. Coastal
Banking Company Inc.<o:p></o:p></div>
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904-321-2913 904-321-0400<o:p></o:p></div>
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Anonymoushttp://www.blogger.com/profile/00868845588375779671noreply@blogger.comtag:blogger.com,1999:blog-5379380174916173554.post-20517027654738024302016-07-27T09:55:00.000-04:002016-07-27T09:55:08.657-04:00Chief Financial Officer Paul Garrigues Resigns<br /><div>
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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.</div>
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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.</div>
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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.</div>
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“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.”</div>
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For More Information:</div>
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Michael G. Sanchez</div>
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Chairman & Chief Executive Officer</div>
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Coastal Banking Company Inc.</div>
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904-321-0400</div>
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Anonymoushttp://www.blogger.com/profile/00868845588375779671noreply@blogger.comtag:blogger.com,1999:blog-5379380174916173554.post-58681068663921571172016-05-31T09:32:00.000-04:002016-05-31T09:32:53.729-04:00Coastal Banking Company Inc. Shareholders Approve Slate of Directors, Appoint Lead Independent Director<br />
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BEAUFORT, S.C., May 31, 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 at its May 25th shareholders’ meeting in Beaufort, shareholders approved a slate of directors and appointed a new lead independent director.<br />
<br />
The Coastal shareholders elected Kenneth Ausley, Suellen Garner, Mark Heles, and Ladson Howell Class II Directors with terms expiring in 2019 and John Adams II and Charles Wagner Class III Directors with terms expiring in 2017.<br />
<br />
The Coastal Board, at the behest of the Governance Committee, elected Ladson Howell as Lead Independent Director and Vice Chairman of the Board. Howell previously held the title of Vice Chairman.Anonymoushttp://www.blogger.com/profile/00868845588375779671noreply@blogger.comtag:blogger.com,1999:blog-5379380174916173554.post-6957177452010974272016-05-10T08:09:00.001-04:002016-05-10T08:09:29.832-04:00Coastal Banking Company Reports First Quarter 2016 Earnings<div align="center" class="MsoNormal" style="mso-outline-level: 1; text-align: center;">
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<b>BEAUFORT, S.C., May 9, 2015</b> – 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., today reported net income of $1,218,000, or earnings per
diluted common share of $0.44, for the quarter ended March 31, 2016. This represents
a $47,000 improvement from the net income of $1,171,000, or earnings per diluted
common share of $0.35, for the first quarter of 2015.<o:p></o:p></div>
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On a
linked-quarter basis, net income in the first quarter of 2016 represents a decrease
of $215,000, or earnings per diluted common share of $0.13, from net income of
$1,433,000, or earnings per diluted common share of $0.48, in the final quarter
of 2015.<o:p></o:p></div>
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Key highlights
from the first quarter of 2016 include:<o:p></o:p></div>
<ul style="margin-top: 0in;" type="square">
<li class="MsoNormal" style="line-height: 150%; mso-list: l0 level1 lfo1; tab-stops: list .5in left 315.0pt;">Continuation of strong, recurring
quarterly earnings which has averaged in excess of $1 million over the past
eight consecutive quarters.<o:p></o:p></li>
<li class="MsoNormal" style="line-height: 150%; mso-list: l0 level1 lfo1; tab-stops: list .5in left 315.0pt;">Driven by these strong earnings, common
tangible book value has grown to $12.36 per share at March 31, 2016, an
increase of $2.03 per share, or 19.7 percent, during the last year, from $10.33
per share at March 31, 2015. <o:p></o:p></li>
<li class="MsoNormal" style="line-height: 150%; mso-list: l0 level1 lfo1; tab-stops: list .5in left 315.0pt;">Mortgage banking funding and profitability
remained strong, with more than $400 million in residential mortgage loans
funded and $12.3 million in mortgage banking income earned during the
quarter.<o:p></o:p></li>
<li class="MsoNormal" style="line-height: 150%; mso-list: l0 level1 lfo1; tab-stops: list .5in left 315.0pt;">Asset quality costs of $84,000 for the
quarter were down 75 percent, or $253,000, from costs of $337,000 incurred
during the first quarter of 2015.<o:p></o:p></li>
<li class="MsoNormal" style="line-height: 150%; mso-list: l0 level1 lfo1; tab-stops: list .5in left 315.0pt;">Stable net interest margin in the first
quarter at 3.89 percent, unchanged from the first quarter of 2015, and a
decrease of 1 basis point from the prior quarter end. <o:p></o:p></li>
<li class="MsoNormal" style="line-height: 150%; mso-list: l0 level1 lfo1; tab-stops: list .5in left 315.0pt;">Nonaccrual loans ended the quarter at $1.9
million, a decrease of $542,000, or 21.9 percent, from the prior quarter
end, and down by $2.7 million from March 31, 2015. <o:p></o:p></li>
<li class="MsoNormal" style="line-height: 150%; mso-list: l0 level1 lfo1; tab-stops: list .5in left 315.0pt;">Other real estate owned (OREO) of $6.3
million increased by 3.9 percent during the quarter but was down by $633,000,
or 9.1 percent, from March 31, 2015.<o:p></o:p></li>
<li class="MsoNormal" style="line-height: 150%; mso-list: l0 level1 lfo1; tab-stops: list .5in left 315.0pt;">Capital ratios at CBC National Bank
remained strong, with a total risk-based capital ratio of 23.61 percent
and a Tier 1 risk-based capital ratio of 22.34 percent.<o:p></o:p></li>
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<span lang="EN">For the full text of the earnings release and complete
unaudited interim financial results, please click the links below or visit the
company's website at </span><span lang="EN"><o:p></o:p></span></div>
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<a href="https://nebula.wsimg.com/2cdde173e777d168869d47f01241014b?AccessKeyId=417C39E959DBBBB2CF7C&disposition=0&alloworigin=1"><span lang="EN">Full Earnings Release</span></a><span lang="EN"><o:p></o:p></span></div>
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<a href="https://nebula.wsimg.com/0cba182a5c238ecba912862daecf60f0?AccessKeyId=417C39E959DBBBB2CF7C&disposition=0&alloworigin=1"><span lang="EN">1<sup>st</sup> Qtr Financial Results</span></a><span lang="EN"><o:p></o:p></span></div>
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<a href="http://www.coastalbanking.com/reports--news---filings.html"><span lang="EN">http://www.coastalbanking.com/reports--news---filings.html</span></a><span lang="EN"><o:p></o:p></span></div>
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For More
Information: <o:p></o:p></div>
<div class="MsoNormal">
Paul R. Garrigues Michael
G. Sanchez <o:p></o:p></div>
<div class="MsoNormal">
Chief Financial
Officer Chief
Executive Officer<o:p></o:p></div>
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Coastal Banking
Company Inc. Coastal
Banking Company Inc.<o:p></o:p></div>
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904-491-9833 904-321-0400<o:p></o:p></div>
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Anonymoushttp://www.blogger.com/profile/00868845588375779671noreply@blogger.comtag:blogger.com,1999:blog-5379380174916173554.post-2171263474961753962016-05-06T11:11:00.002-04:002016-05-06T11:11:51.433-04:00CBC National Bank Named Top SBA Community Bank Lender in North Florida for Fiscal Year 2015<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjgZpaTDLN6asBVYVY1kdM3mEywPe6KCBDrfvnBzwpfVS2My0B2otqwVUoWd8qgJ9_zJTSAAmoOFsc95JR5i6mYoDrRU3C1LxE3tmM6QbhkQU-c1-HDLnQ8xgsFlq5y8JbL0vUVdHMefkb_/s1600/SBA+Social+Top+Lender+Award.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="167" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjgZpaTDLN6asBVYVY1kdM3mEywPe6KCBDrfvnBzwpfVS2My0B2otqwVUoWd8qgJ9_zJTSAAmoOFsc95JR5i6mYoDrRU3C1LxE3tmM6QbhkQU-c1-HDLnQ8xgsFlq5y8JbL0vUVdHMefkb_/s320/SBA+Social+Top+Lender+Award.jpg" width="320" /></a></div>
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<b>FERNANDINA BEACH, Fla., May 10, 2016</b> –
CBC National Bank, headquartered in Fernandina Beach and with branches in
Fernandina Beach, Ocala and The Villages, Fla., and Beaufort and Port Royal,
S.C., today announced that the bank has again been recognized as the No. 1
ranked community bank U.S. Small Business Administration (SBA) lender in the
north Florida district in total dollar volume and number of loans (and was ranked
No. 2 in the state).<o:p></o:p></div>
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“I want to thank
and congratulate the lenders that have made outstanding contributions in the
North Florida area,” said Wilfredo J. Gonzalez, North Florida District
Director. “We have increased lending in the district over the past few years,
and I hope to see that growth continue. Our lenders help small businesses
create and maintain jobs, and that has a direct impact on local communities.” <o:p></o:p></div>
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Fiscal Year 2015
Lender Award Winners were recognized at the 24th Annual Small Business Week
Celebration on May 5, 2016, in Jacksonville at the University of North
Florida’s University Center. The event was hosted by the Small Business
Development Center.<span style="color: red;"><o:p></o:p></span></div>
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In October, the
U.S. Small Business Administration named the bank’s SBA lending division among
the 100 most active SBA 7(a) lenders of fiscal year 2015. CBC National Bank
ranked 69<sup>th</sup> nationally in lending volume, funding 48 loans totaling
$57,860,500.<o:p></o:p></div>
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The bank also
launched a new Georgia SBA lending operation in October to serve the needs of
the growing market for SBA loans in the metropolitan Atlanta and Georgia
markets, and will continue to ramp up that operation throughout 2016.<o:p></o:p></div>
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“Our SBA lending
division continues to demonstrate outstanding performance in meeting the vital needs
of small-business customers,” said Charles Wagner, president of CBC National
Bank. “Being named again as the top community bank SBA lender in North Florida
and among the 100 most active SBA lenders for fiscal year 2015 is well-deserved
recognition for our organization.”<o:p></o:p></div>
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<b>About CBC National Bank<o:p></o:p></b></div>
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CBC National Bank, headquartered in
Fernandina Beach, Fla., provides a full range of consumer and business banking
services through full-service banking offices in Fernandina Beach, Ocala and
The Villages, Fla., and Beaufort and Port Royal, S.C. The company’s residential
mortgage banking division, headquartered in Atlanta, includes traditional
retail and wholesale lending, as well as a National Retail Group that has
lending offices in Arizona, Florida, Georgia, Maryland, Michigan, Indiana,
Illinois and Ohio. The company’s government guaranteed lending division
originates SBA loans primarily in Jacksonville, Ft. Myers, Tampa and Vero
Beach, Fla., Greensboro, N.C., Atlanta and Beaufort. For more information,
please visit CBC National Bank’s website, <a href="http://www.cbcnationalbank.com/">www.cbcnationalbank.com</a>.<o:p></o:p></div>
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<b>About Coastal Banking Company
Inc. <o:p></o:p></b></div>
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Coastal Banking Company Inc.,
headquartered in Beaufort, S.C., which had assets of $464.7 million as of Dec.
31, 2015, is the bank holding company of CBC National Bank. Total pro forma
assets will be nearly $590 million at March 31, 2016, after including Q1 loan
growth and the assets from the previously announced acquisition of First Avenue
National Bank. The company's common stock is publicly traded on the OTCQX
Markets under the symbol CBCO. <span style="color: windowtext; mso-bidi-font-weight: bold;">The company was been named to the OTCQX® Best 50 in both 2015 and 2016,
an annual ranking of the top 50 U.S. and international companies traded on the
OTCQX Best Market, based on the combined one-year total return on market value
and average growth in daily dollar trading volume. </span>For more information,
please visit the company's website, <a href="http://www.coastalbanking.com/">www.coastalbanking.com</a>.<o:p></o:p></div>
Anonymoushttp://www.blogger.com/profile/00868845588375779671noreply@blogger.comtag:blogger.com,1999:blog-5379380174916173554.post-69158714468727200232016-04-26T15:51:00.002-04:002016-04-26T15:51:33.389-04:00CBC National Bank Achieves Lending Milestones<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhq0g3MlmRBjDvBZp9DV06yOqe57tTaufN3HFgNzs6VbXluw4KdZVDYWMX1nU3KCzxAgaMnu5tl6H1inp0XCUimJiBV78QXIn8hI7y4pVIo2_6YK5OHXkHnN_qzwBZ0E2fVFw6N9FkTpk8F/s1600/Lending+Milestone+2015.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="167" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhq0g3MlmRBjDvBZp9DV06yOqe57tTaufN3HFgNzs6VbXluw4KdZVDYWMX1nU3KCzxAgaMnu5tl6H1inp0XCUimJiBV78QXIn8hI7y4pVIo2_6YK5OHXkHnN_qzwBZ0E2fVFw6N9FkTpk8F/s320/Lending+Milestone+2015.jpg" width="320" /></a></div>
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CBC National Bank, headquartered in Fernandina Beach and with branches in Fernandina Beach, Ocala and The Villages, Fla., and Beaufort and Port Royal, S.C., and with its mortgage banking division headquartered in Atlanta, today announced that the bank achieved milestones in both mortgage lending and SBA lending.</div>
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CBC National Bank's Mortgage Division produced over $2.8 billion in mortgage loans in 2015, funding $1.84 billion and brokering approximately $960 million, and the division has now exceeded $10 billion in total production since its inception in September 2007. It follows a conservative, risk-averse business model, originating primarily full-documentation, conforming mortgage loans pre-sold into the secondary market.</div>
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In June 2015, CBC National Bank was recognized by Scotsman Guide as one of the nation's Top Mortgage Lenders 2014, ranking No. 43 in overall volume and No. 16 in wholesale volume. And the bank recently learned that six of its mortgage bankers have been recognized individually as among the Scotsman Guide's Top Originators 2015 across categories including Top VA Volume (ranking No. 13, 19, 46 and 58), Most Loans Closed (ranking No. 263) and Top Dollar Volume (ranking No. 327).</div>
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The bank also continued to thrive in SBA lending in 2015. Once again, CBC was recently recognized as the No. 1 ranked community bank SBA lender in the north Florida district in total dollar volume and number of loans (and was ranked No. 2 in the south Florida district).</div>
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And in October, the U.S. Small Business Administration (SBA) named the bank's Small Business Administration lending division among the 100 most active SBA 7(a) lenders of fiscal year 2015.</div>
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CBC National Bank was ranked No. 69 by lending volume by the SBA, with 48 loans during fiscal year 2015 totaling $57,860,500.</div>
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The bank also launched a new Georgia SBA lending operation in October to serve the needs of the growing market for SBA loans in the metropolitan Atlanta and Georgia markets, and will continue to ramp up that operation throughout 2016.</div>
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"Both our mortgage banking division and SBA lending division continue to perform well while doing outstanding work to meet the needs of their customers," said Charles Wagner, president of CBC National Bank. "The milestones reached in 2015 and early 2016 are a testament to the divisions' ability to adapt to changing economic and market conditions, to the strong leadership in place at each division, and to all the associates' daily work in making CBC a recognized leader in both mortgage and SBA lending."</div>
Anonymoushttp://www.blogger.com/profile/00868845588375779671noreply@blogger.comtag:blogger.com,1999:blog-5379380174916173554.post-31111900946186082722016-04-25T11:05:00.002-04:002016-04-25T11:05:58.896-04:00CBC Releases 2015 Annual Report - Exceptional Year for Coastal Banking Company<div class="separator" style="clear: both; text-align: center;">
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<b><span style="color: #0b5394;">2015 was an exceptional year for Coastal
Banking Company both in terms of our financial
performance and in creating shareholder value. </span></b></h3>
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<a href="http://www.coastalbanking.com/reports--news---filings.html" target="_blank"><img border="0" height="208" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhOXsJ7L_oYuywqFT5iaz-KfeOgbBFeszzbpvOFRwegn4YGZp0PkOqL5HsCLuMs6QwK1Jk6BTzgukeKxXyIVomvn-zE4cV37uh8pnislg4fHrDkeQNhquNrcVinPOZBgOmk8CdASLk-GVl4/s400/CBCO+Annual+Report.jpg" width="400" /></a></div>
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<br />
<br />
"2015 was a noteworthy year for
Coastal Banking Company in terms
of our strong financial performance.
A look at the graphs, tables and
financial statements in this report
clearly demonstrate this. But I hope
that you will also just as clearly see
from the detail I provided on the
operating success of our divisions
and the results of our strategic
initiatives taken in 2015 – and set to
roll out in 2016 – that the Company
continues to perform just as strongly
in creating long-term shareholder
value. Rest assured that I, the entire
management team and all our
associates work hard every day
toward both the short-term and long-term
success of our Company. - Michael Sanchez, Chairman & CEO"<br />
<br />
<div style="text-align: center;">
<a href="http://www.coastalbanking.com/reports--news---filings.html" target="_blank"><span style="color: red;"><b>CLICK HERE TO READ REPORT</b></span></a></div>
Anonymoushttp://www.blogger.com/profile/00868845588375779671noreply@blogger.comtag:blogger.com,1999:blog-5379380174916173554.post-25545030721678067992016-04-19T10:46:00.001-04:002016-04-19T10:46:21.006-04:00Coastal Banking Company Inc. Adds Two New Directors from Recently Acquired First Avenue National Bank<div style="background-color: white; box-sizing: inherit; color: #888888; font-family: Arial, sans-serif; font-size: 14px; line-height: 19px; margin-bottom: 20px; max-height: 1e+06px; word-spacing: -1px;">
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<strong style="box-sizing: inherit; max-height: 1e+06px;">BEAUFORT, SC / ACCESSWIRE / April 19, 2016 /</strong> Coastal Banking Company Inc. (OTCQX: CBCO), the holding company of CBC National Bank, which operates full-service banking offices in Beaufort and Port Royal, S.C., Fernandina Beach, Ocala and The Villages, Fla., announced that it has added two new directors from recently acquired First Avenue National Bank of Ocala, Florida. Coastal completed the acquisition of First Avenue April 8.</div>
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Joining the Coastal Banking Company board of directors are John Q. Adams II and Ken Ausley. Adams is an owner and principal at Adams & Company, P.A., which provides accounting, tax planning and business consulting services to clients in the real estate, construction, and health care industries, as well as professional services companies and other businesses. Adams is a long-time member of the American Institute of Certified Public Accountants and the Florida Institute of Certified Public Accountants. He has served on the board of directors for The Arnette House, Central Florida YMCA, Ocala Boat Club, and several property owner associations.</div>
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Ausley is co-owner of Ausley Construction Company Inc., a second-generation commercial construction firm operating in Central Florida since 1958. He is also principal and co-owner of ACA Construction Group, LLC, which specializes in large institutional and public sector projects. Ausley serves on numerous boards including Kimberly's Center for Child Protection, the Ocala/Marion County Chamber and Economic Partnership, the City of Ocala's 2035 Vision Leadership Group, the Marion County Value Adjustment Board and the board of Ambleside Schools International. He is also the co-founder and chairman of Ambleside School of Ocala, Inc., a non-profit, private K-8 school.</div>
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"We are pleased to welcome John Adams and Ken Ausley to the Coastal Banking Company board of directors," said Michael G. Sanchez, chairman and chief executive officer of Coastal Banking Company Inc. "Their deep, strong ties to the Ocala/Marion County community as long-time residents, business owners and active civic participants will provide solid continuity in the ability of Coastal to serve the financial needs of individuals, families and businesses across the area. We look forward to their contributions as directors of the company."</div>
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