Business Context and Reporting Period
This Form 8-K Current Report was filed by CoastalSouth Bancshares, Inc. on November 18, 2025. The report discloses a corporate governance event regarding the departure of a director from the Board of Directors.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
The material change reported is the resignation of Mr. Boris Gutin from the Board of Directors, effective November 19, 2025. Mr. Gutin was originally designated to the Board by GCP Capital Partners and its related funds following the Company's 2017 recapitalization. His departure is consistent with GCP's customary practice of not maintaining board representation on public companies following an initial public offering.
Management Commentary and Risks
- Reason for Departure: The resignation is not the result of any disagreement with the Company regarding operations, policies, or practices.
- Management Sentiment: Mr. Gutin expressed strong support for the Company, its management team, and the Board. The Board thanked him for his dedicated service and valuable contributions.
- Risks and Contingencies: No specific risks, contingencies, or unusual items were disclosed in this filing.
Investor Verification Checklist
- Verify the effective date of Mr. Gutin's resignation (November 19, 2025).
- Confirm the composition of the Board of Directors following this departure.
- Review the Company's recent Initial Public Offering (IPO) details to understand the context of GCP Capital Partners' exit from board representation.
- Check for any subsequent filings regarding the appointment of a new director to fill the vacancy.