A New Chapter Begins for Barwick Bank with $50 Million Capital Infusion
Barwick Banking Co., a community bank based in Georgia, is preparing for a new exciting phase with a $50 million capital infusion from Coastal Ventures, a recently formed venture capital firm. This investment, the first by Coastal Ventures, is expected to close by the end of the year, setting the stage for Barwick Bank’s escalated expansion program.
Coastal Ventures, based in Charlotte, North Carolina, was founded earlier this year by experienced investors Ryan Hanks and Greg Meerbaum. Previously, both Meerbaum, CEO of Coastal Investments in Winter Park, Florida, and Hanks, founder and CEO of the Charlotte-based Madison Capital Group, have predominantly invested in real estate. However, Coastal Ventures has a wider mandate, seeking partnerships with operational companies, including banks, that demonstrate strong fundamentals and expansion potential.
Barwick Bank’s Remarkable Growth
Barwick Bank has shown impressive growth since it was acquired by a group led by CEO Chad Bowling in 2020. The 118-year-old institution, which began with a single branch in Barwick, Georgia and just $13 million of assets, has remarkably grown to six branches and more than $640 million in assets today. Under Bowling’s leadership, the bank has opened a second branch in Georgia and four branches in Florida.
Expansion Plan into More Communities
Barwick Bank plans to expand into Chiefland, Florida, in early 2026. The bank is also exploring additional opportunities in communities where local banks have vanished due to industry consolidation. “We’re certainly hearing in some of these smaller towns and suburbs that they miss their community bank, really need it, need someone that they can bank with, talk to and get things done, especially the small businesses,” Bowling said.
Capital Infusion to Fund New Branches and Acquisitions
The infusion of capital from Coastal Ventures will provide Barwick Bank with ample resources to fund new branches and potential acquisitions. The CEO expressed his excitement about the upcoming opportunity with Coastal, stating, “We’ve been able to raise a good amount of capital over the past five years, but this opportunity with Coastal is tremendous, to where we could go after some M&A activity or organic growth with the right bankers.”
Coastal Ventures Attracted to Barwick’s Growth and Community Presence
Coastal Ventures was drawn to Barwick Bank due to its recent growth and its longstanding reputation as a community financial institution. “It’s rare to invest in something as secure as an established bank while also capturing significant growth potential,” Meerbaum said in a press release.
Barwick Bank’s Financial Health
Despite losing money in 2020 and 2021 due to technology upgrades and branch openings, Barwick Bank broke even in 2022. Since then, it has seen steady profit growth, with net income reaching $3.3 million in 2024 and $1.8 million in the first half of 2025.
Coastal Ventures and Its Unique Proposition
Meerbaum and Hanks launched Coastal Ventures with the goal of providing high-net-worth individuals with access to transactions typically dominated by institutional capital. “It allows us to bring forward deal flow on par with the largest institutional firms, giving our investors access to opportunities that are rarely available in the broader market,” Hanks said in the press release.
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