Last $7.00 USD
Change Today +0.0845 / 1.22%
Volume 4.2K
SOCB On Other Exchanges
Symbol
Exchange
NASDAQ GM
As of 8:10 PM 11/21/14 All times are local (Market data is delayed by at least 15 minutes).

southcoast financial corp (SOCB) Snapshot

Open
$6.90
Previous Close
$6.92
Day High
$7.00
Day Low
$6.73
52 Week High
06/30/14 - $7.45
52 Week Low
11/3/14 - $4.92
Market Cap
49.7M
Average Volume 10 Days
6.6K
EPS TTM
$0.39
Shares Outstanding
7.1M
EX-Date
--
P/E TM
17.9x
Dividend
--
Dividend Yield
--
Current Stock Chart for SOUTHCOAST FINANCIAL CORP (SOCB)

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southcoast financial corp (SOCB) Details

Southcoast Financial Corporation operates as the holding company for Southcoast Community Bank that provides commercial banking services in South Carolina. The company offers deposit services, which comprise business and personal checking accounts, NOW accounts, savings accounts, money market accounts, various term certificates of deposit, IRA accounts, and other deposit services. It also provides secured and unsecured short-to-intermediate term loans for commercial, consumer, and residential purposes; consumer loans, such as car loans, home equity improvement loans secured by first and second mortgages, personal expenditure loans, education loans, and overdraft lines of credit; and commercial loans for businesses to provide working capital, expand physical assets, or acquire assets. In addition, the company offers loans secured by real estate mortgages for the acquisition, improvement or construction, and development of residential and other properties; residential real estate loans; non-farm and non-residential loans; commercial real estate loans; real estate construction loans; and land development loans. Further, it provides residential mortgage loan origination services, safe deposit boxes, business courier services, night depository services, electronic banking, MasterCard brand credit cards, tax deposits, and automated teller machine services. The company operates offices in Mt. Pleasant, Charleston, Moncks Corner, Johns Island, Summerville, Goose Creek, and North Charleston, South Carolina. Southcoast Financial Corporation was founded in 1998 and is headquartered in Mt. Pleasant, South Carolina.

92 Employees
Last Reported Date: 03/24/14
Founded in 1998

southcoast financial corp (SOCB) Top Compensated Officers

Chairman, Chief Executive Officer, President,...
Total Annual Compensation: $395.0K
Chief Operating Officer, Executive Vice Presi...
Total Annual Compensation: $260.0K
Executive Vice President, Treasurer, Secretar...
Total Annual Compensation: $240.0K
Executive Vice President, Chief Lending Offic...
Total Annual Compensation: $208.4K
Compensation as of Fiscal Year 2013.

southcoast financial corp (SOCB) Key Developments

Southcoast Financial Corporation Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Southcoast Financial Corporation reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter ended September 30, 2014, the unaudited net income was $1,033,000, or $0.15 per basic and diluted share. This compares to an unaudited net income of $694,000, or $0.10 per basic and diluted share for the quarter ended September 30, 2013. The company recorded pretax income of $1,430,000 and $694,000 for the quarters ended September 30, 2014 and September 30, 2013, respectively. The pretax results for the quarter ended September 30, 2014 included $455,000 of nonrecurring income related to the liquidation of an insurance policy as well as gains on the sale of other real estate owned. Net interest income was $3,655,000 against $3,484,000 a year ago. Return on assets was 0.90% against 0.64% a year ago. Return on equity was 7.32% against 7.22% a year ago. The company reported unaudited net income of $2,385,000, or $0.34 per basic and diluted share, for the nine months ended September 30, 2014. This compares to unaudited net income of $8,735,000, or $1.23 per basic and diluted share, for the nine months ended September 30, 2013. The difference in net income between the two periods primarily relates to the one-time tax benefit of $6.4 million derived from the recapture of the company's deferred tax asset during the nine months ended September 30, 2013. Income before income taxes increased by 47.8% to $3,506,000 in 2014 from $2,372,000 in 2013. The 2014 pretax results were influenced by a growth in loan interest income, reduced funding costs and reductions in noninterest expenses. For the nine months ended September 30, 2014, net interest income totaled $10,858,000, an increase of $468,000 from $10,390,000 for the nine months ended September 30, 2013. Book value per share was $6.44.

Southcoast Financial Corp. Presents at FIG Partners 10th Annual Bank CEO Forum, Sep-15-2014

Southcoast Financial Corp. Presents at FIG Partners 10th Annual Bank CEO Forum, Sep-15-2014 . Venue: Four Seasons, Atlanta, Georgia, United States.

Southcoast Financial Corp. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Southcoast Financial Corp. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total interest income of $4,470,000 compared to $4,407,000 a year ago. Net interest income was $3,573,000 compared to $3,473,000 a year ago. Total operating income was $4,203,000 compared to $4,164,000 a year ago. Income before taxes was $1,088,000 compared to $616,000 a year ago. Net income was $709,000 or $0.10 per basic and diluted share, compared to $7,035,000 or $0.19 per basic and diluted share, a year ago. Return on assets was 0.62% compared to 6.47% a year ago. Return on equity was 6.38% compared to 67.69% a year ago. For the six months, the company reported total interest income of $9,012,000 compared to $8,866,000 a year ago. Net interest income was $7,203,000 compared to $6,906,000 a year ago. Total operating income was $8,321,000 compared to $8,186,000 a year ago. Income before taxes was $2,076,000 compared to $1,678,000 a year ago. The 2014 pretax results were influenced by a growth in loan interest income, reduced funding costs, and reductions in noninterest expenses. Net income was $1,352,000 or $0.19 per basic and diluted share, compared to $8,041,000 or $1.14 per basic and diluted share, a year ago. The difference in net income between the two periods primarily relates to the one-time tax benefit of $6.4 million derived from the recapture of the company's deferred tax asset in the second quarter of 2013.

 

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Industry Analysis

SOCB

Industry Average

Valuation SOCB Industry Range
Price/Earnings 18.3x
Price/Sales 3.1x
Price/Book 1.1x
Price/Cash Flow 18.3x
TEV/Sales NM Not Meaningful
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