Coastal Banking Company, Inc. Reports Annual Results.BEAUFORT, S.C. -- Coastal Banking Company, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : CBCO CBCO certified bank compliance officer ) today announced earnings for the year ended December 31, 2004. Net income for the year ended December 31, 2004 was $ 1,111,000 compared to a net income for the year ended December 31, 2003 of $864,000. Basic earnings per share were $1.11 for the year ended December 31, 2004 compared to basic earnings per share of $.87 for the year ended December 31, 2003. Diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of were $ .99 in 2004 compared to $.82 in 2003. As of December 31, 2004, Coastal Banking Company, Inc. reported total assets of $146.1 million. Total assets have increased $38.2 million, or 35% since December 31, 2003. Deposits were $129.4 million and net loans totaled $100.4 million at the end of 2004. Commenting on the results for the year, Randy The name Randy generally derives from the names Randall or Randolph (meaning wolf with a shield). Randy is used as a given name primarily in the US and Canada. Men known as Randy
Coastal Banking Company Inc. is the holding company for Lowcountry National Bank and has its headquarters at 36 Sea Island Parkway, Beaufort, SC. Its stock is traded over the counter under the symbol CBCO.OB. Certain statements in this news release contain "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, such as statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc future plans and expectations, and are thus prospective. Such forward-looking statements are subject to risks, uncertainties, and other factors, such as a downturn Downturn The transition point between a rising, expanding economy to a falling, contracting one. downturn A decline in security prices or economic activity following a period of rising or stable prices or activity. in the economy, which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Although we believe that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. Therefore, we can give no assurance that the results contemplated in the forward-looking statements will be realized. The inclusion of this forward-looking information should not be construed as a representation by our company or any person that the future events, plans, or expectations contemplated by our company will be achieved. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. |
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