Coastal Carolina Bancshares, Inc. Announces 10% Stock Dividend
Myrtle Beach, South Carolina – (March 28, 2019) – The board of directors of Coastal Carolina Bancshares, Inc. (OTCQX: CCNB) (the “Company”), parent company of Coastal Carolina National Bank (the “Bank”), announced today the declaration of a 10% stock dividend payable on May 1, 2019, to shareholders of record at the close of business on April 15, 2019.
The stock dividend provides shareholders with one new share for every ten shares held as of the close of business on the record date. Only whole shares of stock will be issued. Shareholders who hold stock certificates will receive a new certificate by mail, representing the 10% stock dividend shares. If the stock is held in a brokerage account, shares will be electronically delivered directly to the appropriate account. If applicable, a check for payment in lieu of a fractional share may also be enclosed with the new stock certificate or deposited electronically.
“We are very pleased to announce this 10% stock dividend as it nicely coincides with our 10th anniversary which we will celebrate in June of this year. We have made significant financial progress and have now grown to seven full-service locations throughout the state of South Carolina. We are fortunate to have such a dedicated team of community bankers who serve our customers diligently in all of our markets around the state.” said Laurence S. Bolchoz Jr., president, and chief executive officer of the Company.
About Coastal Carolina Bancshares, Inc. Coastal Carolina Bancshares, Inc. is the bank holding company of Coastal Carolina National Bank, a Myrtle Beach-based community bank serving Horry, Georgetown, Aiken, Richland, Lexington, Greenville (SC), and Brunswick (NC) counties. Coastal Carolina National Bank is a locally operated financial institution focused on providing personalized service and offers a full range of banking services designed to meet the specific needs of individuals and small and medium-sized businesses. Headquartered in Myrtle Beach, South Carolina, the bank also has branches in Garden City, North Myrtle Beach, Conway, Aiken, Columbia, and Greenville, South Carolina. Through the substantial experience of our local management and Board of Directors, Coastal Carolina Bancshares, Inc. seeks to enhance value for our shareholders, build lasting customer relationships, benefit our communities and give our employees a meaningful career opportunity. Coastal Carolina Bancshares, Inc. common stock is quoted on the OTCQX market under the symbol “CCNB.”
Forward-Looking Statements Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include, without limitation: the effects of future economic conditions; governmental fiscal and monetary policies; legislative and regulatory changes; the risks of changes in interest rates; successful merger integration; management of growth; fluctuations in our financial results; reliance on key personnel; our ability to compete effectively; and privacy, security and other risks associated with our business. Coastal Carolina Bancshares, Inc. assumes no obligation and does not intend to update these forward-looking statements, except as required by law.
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