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  5. Coastal States Bank Acquires Cornerstone Bank

M&A Deal Summary

Coastal States Bank Acquires Cornerstone Bank

On April 23, 2021, Coastal States Bank acquired financial services company Cornerstone Bank

Acquisition Highlights
  • This is Coastal States Bank’s 1st transaction in the Financial Services sector.
  • This is Coastal States Bank’s 1st transaction in the United States.
  • This is Coastal States Bank’s 1st transaction in Georgia.

M&A Deal Summary
Date 2021-04-23
Target Cornerstone Bank
Sector Financial Services
Buyer(s) Coastal States Bank
Deal Type Merger
Advisor(s) Burke Stelling Group (Financial)
Alston & Bird (Legal)

Target

Cornerstone Bank

Atlanta, Georgia, United States
Formed in 2013, Bank, a federal savings association that operates three branches located in metro Atlanta.

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Buyer(S) 1

Buyer

Coastal States Bank

Hilton Head Island, South Carolina, United States
Category Company
Founded 2003
Sector Financial Services
Employees179
Revenue 72M USD (2023)
DESCRIPTION

CoastalSouth provides a wide range of commercial, consumer, and mortgage banking services through its wholly owned subsidiary, CoastalStates Bank. Coastal States Bank was founded in 2003 and is based in Hilton Head Island, South Carolina.

DEAL STATS #
Overall 1 of 1
Sector: Financial Services M&A 1 of 1
Type: Merger M&A Deals 1 of 1
State: Georgia M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2021 M&A 1 of 1
Mergr

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