updated 3/17/2011 5:47:37 PM ET 2011-03-17T21:47:37

BEAUFORT, S.C., March 17, 2011 (GLOBE NEWSWIRE) -- Coastal Banking Company Inc. (OTCBB:CBCO), the holding company of CBC National Bank, which operates divisions including Lowcountry National Bank in Beaufort, S.C., and First National Bank of Nassau County in Fernandina Beach, Fla., reported a net loss of $2.3 million, or a loss of $0.94 per diluted share, for the quarter ended Dec. 31, 2010, which included a $1.8 million deferred tax asset valuation allowance. Excluding the allowance, the company recorded a net loss of $0.5 million, or a loss of $0.23 per diluted share, for the fourth quarter of 2010.

For the full year 2010, the Company reported a net loss of $3.8 million, or a loss of $1.70 per diluted share. Excluding the allowance, the Company incurred a net loss of $2.0 million, or $0.99 per diluted share for the year ended Dec. 31, 2010.

For the full text of the press release and financial tables, please visit the company's website at http://www.coastalbanking.com/pdf/forthqtr2010ern.pdf

CONTACT: Michael G. Sanchez
         Chief Executive Officer
         Coastal Banking Company Inc.
         904-321-0400
         
         Andy Mus
         Senior Vice President
         Marsh Communications LLC
         404-327-7662

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 5.05%
$30K home equity loan FICO 5.67%
$75K home equity loan FICO 4.85%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.42%
13.42%
Cash Back Cards 17.94%
17.94%
Rewards Cards 17.15%
17.15%
Source: Bankrate.com