/PRNewswire/ First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of industrial real estate, today.
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Coastal Carolina Bancshares, Inc. Announces 2020 Earnings
January 27, 2021 GMT
MYRTLE BEACH, SC / ACCESSWIRE / January 27, 2021 / Coastal Carolina Bancshares, Inc. (the “Company”) (OTCQX:CCNB), parent of Coastal Carolina National Bank (the “Bank”), reported unaudited financial results for the fourth quarter and year-end 2020. The Company reported net income of $3,740,032 or $.61 cents per share for the twelve months ended December 31, 2020, compared to $2,817,002 or $.46 cents per share, for the same period ended December 31, 2019, representing a 32.8% increase. Net income for the three months ended December 31, 2020, was $1,264,931 or $.21 cents per share, which represents a 22% increase over prior quarter income of $1,033,424 and a 42% increase over quarterly net income of $891,733 for the same period one year ago.
Prosperity Bancshares, Inc.® Reports Fourth Quarter 2020 Earnings
- Fourth quarter earnings per share (diluted) of $1.48, an increase of 46.5% compared to the fourth quarter 2019
- Fourth quarter net income of $137.1 million
- Deposits increased $901.3 million or 3.4% (13.6% annualized) during the fourth quarter 2020
- Deposits increased $3.161 billion or 13.1% during 2020
- Allowance for credit losses to total loans, excluding Warehouse Purchase Program and SBA Paycheck Protection Program loans, of 1.92%(1)
- Nonperforming assets remain low at 0.20% of fourth quarter average interest-earning assets
- Return (annualized) on fourth quarter average assets of 1.63%
- Returns (annualized) on fourth quarter average common equity of 8.98% and average tangible common equity of 19.57%(1)
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During 2020, the Securities and Exchange Commission (“SEC”) continued with its disclosure simplification project by issuing two adopting releases to streamline and modernize certain Regulation S-K disclosure requirements.
The first adopting release, which became effective November 9, 2020, covers Regulation S-K, Item 101 (Description of Business), Item 103 (Legal Proceedings) and Item 105 (Risk Factors) (the “Item 100 Amendments”). The second adopting release covers Regulation S-K, Item 301 (Selected Financial Data), Item 302 (Supplementary Financial Information) and Item 303 (Management’s Discussion and Analysis of Financial Condition and Results of Operations) (the “Item 300 Amendments”). The Item 300 Amendments become effective 30 days after publication in the Federal Registrar and companies will be required to comply with the Item 300 Amendments for their first fiscal year ending on or after the date tha