American Marconi Wireless News - Coastal Carolina Bancshares, Inc. Announces Completion of Merger of Equals with Beacon Holding Company, Inc.

Following the merger, Beacon branch locations will now operate as "Beacon Community Bank, a division of Coastal Carolina National Bank". In early 2027, the core systems and operations of Beacon are scheduled to be converted into those of Coastal Carolina National Bank, and the bank will be rebranded as Beacon Bank, N.A.

Coastal Carolina Bancshares, Inc. will continue trading under the ticker symbol "CCNB". The merger strategically enhances the combined company footprint of sixteen branches and a loan production office serving attractive markets throughout the coastal Carolinas from Charleston, SC to Wilmington, NC and inland to the Upstate of South Carolina. The combined organization will have approximately $2.3 billion in Total Assets, $2.0 billion in Total Deposits and $1.8 billion in Total Loans.

Laurence S. Bolchoz, President and Chief Executive Officer of Coastal Carolina Bancshares, Inc. and Coastal Carolina National Bank said, "The successful completion of our merger of equals with Beacon Community Bank marks an exciting new chapter for our organization. By bringing together two community-focused institutions with shared values, strong cultures, and a commitment to exceptional customer service, we have created an even stronger banking franchise positioned for long-term growth. We are grateful to our customers, shareholders, employees and communities for their support throughout this process. Together, we believe the strong cultural alignment of our organizations will create a premier banking franchise that will drive profitability and enhance shareholder value and benefit our customers, employees and the communities we serve."

Advisors

Raymond James & Associates, Inc. served as exclusive financial advisor and Wyrick Robbins Yates & Ponton LLP served as legal counsel to Coastal in the transaction. Keefe, Bruyette & Woods, A Stifel Company, served as exclusive financial advisor and Nelson Mullins Riley & Scarborough LLP served as legal counsel to Beacon in the transaction.

About Coastal Carolina Bancshares, Inc.

Coastal Carolina Bancshares, Inc. now headquartered in Charleston, South Carolina is the bank holding company of Coastal Carolina National Bank, a Myrtle Beach based community bank serving Horry, Georgetown, Aiken, Orangeburg, Richland, Greenville, Spartanburg, Charleston, Berkeley and Brunswick (NC) counties. Coastal Carolina National Bank is a locally operated financial institution focused on providing personalized service. It offers a full range of banking services designed to meet the specific needs of individuals and small and medium-sized businesses. The Bank also has branches in Garden City, North Myrtle Beach, Conway, Aiken, Orangeburg, Columbia, Greenville, Spartanburg, Mount Pleasant, Charleston, Daniel Island and North Charleston, South Carolina, and Ocean Isle Beach, North Carolina. Through the substantial experience of local management and Board of Directors, Coastal Carolina Bancshares, Inc. seeks to enhance value for its shareholders, build lasting customer relationships, benefit its communities and give its employees a meaningful career opportunity. To learn more about Coastal and its subsidiary bank, please visit the website at www.myccnb.com.

Cautionary Note Regarding Forward-Looking Statements

This press release may contain forward-looking statements regarding Coastal Carolina Bancshares, Inc. ("Coastal Carolina") and its wholly owned subsidiary, Coastal Carolina National Bank, and the merger of Coastal Carolina and Beacon Holding Company, Inc. In general, forward-looking statements usually use words such as "may," "believe," "expect," "anticipate," "intend,'' "would,'' "should,'' "plan," "estimate," "predict," "continue,'' "opportunity," "future,'' and "potential" or the negative of these terms or other comparable terminology. These statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. The expected cost savings, synergies, and other financial benefits from the merger might not be realized within the expected time frames or at all. Pro forma and estimated numbers in this press release are used for illustrative purposes only, are not forecasts, and may not reflect actual results. Any forward-looking statements speak only as of the date on which they are made. Factors or events that could cause actual results to differ may emerge from time to time, and it is not possible for Coastal Carolina to predict all of them.

Coastal Carolina undertakes no obligation to revise or publicly release any revision or update to these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made.

# # #

CONTACT:

Russell Vedder
Title: EVP/CFO
Phone: (843) 839-5662
Fax: (843) 839-5699

SOURCE: Coastal Carolina Bancshares, Inc.

View the original press release on ACCESS Newswire

G.Stevens--AMWN