Coastal Banking to de-register its shares

Beaufort-based Coastal Banking Co. has announced it will no longer register its shares with the Securities and Exchange Commission.

Coastal, with $478 million of assets, will save about $200,000 with the move, according to chief financial officer Paul R. Garrigues. Coastal is one of several small banks nationwide to de-register from the SEC since President Barack Obama recently signed the Jumpstart Our Business Startups Act into law in April.