BEAUFORT, S.C., March 1, 2013 (GLOBE NEWSWIRE) -- Coastal Banking Company Inc. (OTCQB:CBCO), the holding company of CBC National Bank, which operates branches in Beaufort and Port Royal, S.C., Fernandina Beach, Fla., and Meigs, Ga., today reported net income of $921,565, or $0.30 in diluted earnings per common share, for the quarter ended Dec. 31, 2012. This compares to net income of $892,211, or $0.29 in diluted earnings per common share, in the fourth quarter of 2011.
For the full year 2012, the company reported net income of $1.9 million, or $0.51 in earnings per diluted share. This compares to net income of $357,224, or a loss of $0.08 per diluted share, for the full year 2011.
For the full text of the earnings release, audited financial statements and additional financial commentary, please visit the company's website at http://www.coastalbanking.com/pdf/CBCO_4Q12_Earnings.pdf.