SOURCE: Coastal Banking Company, Inc.

Coastal Banking Company, Inc.

March 13, 2014 14:02 ET

Coastal Banking Company Reports Fourth Quarter 2013 Results

BEAUFORT, SC--(Marketwired - Mar 13, 2014) - Coastal Banking Company Inc. (OTCQB: CBCO), the holding company of CBC National Bank, which operates branches in Beaufort and Port Royal, S.C., and Fernandina Beach, Fla., today reported a net loss of $1.5 million, or a loss of $0.63 per diluted common share, for the quarter ended Dec. 31, 2013. This compares to net income of $921,565, or $0.30 in diluted earnings per common share, in the fourth quarter of 2012.

For the full year 2013, the company reported net income of $1.04 million, or $0.40 in earnings per diluted share. This compares to net income of $1.31 million, or $0.51 in earnings per diluted share for the full year 2012. For the full text of the earnings release, audited financial statements and additional financial commentary, please visit the company's website at http://www.coastalbanking.com/pdf/CBCO_4Q13_Earnings.pdf.

Contact Information

  • Michael G. Sanchez
    Chief Executive Officer
    Coastal Banking Company Inc.
    904-321-0400