CoastalStates Bank
CoastalStates Bank is headquartered in HILTON HEAD ISLA and is the 3rd largest bank in the state of South Carolina. It is also the 573rd largest bank in the nation. It was established in 2004 and as of December of 2024, it had grown to 179 employees at 11 locations. CoastalStates Bank has an A health rating.
Business Account $ Held Hostage
Coastal States Bank - I went with them as they are local and around the corner. After a large sum was deposited into my Business Account I tried to take an owner's draw. They will not allow the external transfer to any account unless it has my business name on it. I've had other businesses and have always kept my personal and business accounts at separate banks for security purposes. Why would you block people from accessing their accounts? Best Practices say to keep your business account and your personal account at separate banks.
Now I have to update ALL of my accounts after finding a new bank! Frustrating and just bad business!
Customer For 9 Years Treated Like A Criminal For Bank Mistake
After banking with Coastal States with no problems for 9 years, a recent experience with their customer service has caused me to open an account elsewhere. I currently have no access to my money because of a mistake they made.
A clerical error was made where funds were incorrectly put into my account 13 months ago. Unfortunately, I did not catch this, which I understand is my fault and I take full responsibility.
However, the two women I spoke with practically accused me of criminal activity for a mistake THEY made OVER A YEAR AGO. This is completely unacceptable! When I started crying on the phone, she told me I was being emotional. They made no effort to apologize, accept responsibility, or offer sympathy for the inconvenience or anxiety they caused me.
I understand they were doing their jobs, but to make the assumption that I intentionally did this knowingly and willingly is wrong and inappropriate.
Massive Fees
Horrible, criminal, raping the American people with massive fees. 124% loan to interest.
Data as of Q4 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 57756 |
| Year Established | 2004 |
| Employees | 179 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.12% |
| Return on Equity - YTD | 11.45% |
| Annual Interest Income | $123.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2024vs Q4 2023 | $2.1B$2.02B |
| Loans | Q4 2024vs Q4 2023 | $1.57B$1.49B |
| Deposits | Q4 2024vs Q4 2023 | $1.84B$1.75B |
| Equity Capital | Q4 2024vs Q4 2023 | $218.5MM$190.1MM |
| Loan Loss Allowance | Q4 2024vs Q4 2023 | $17.1MM$15.5MM |
| Unbacked Noncurrent Loans | Q4 2024vs Q4 2023 | $8.6MM$363K |
| Real Estate Owned | Q4 2024vs Q4 2023 | $864K$0 |