C
COASTAL FINANCIAL CORP
Period
FY 2025
Revenue
—
Net Income
$46.99M
Total Assets
$4.74B
Equity
$490.96M
Shares Out
15.25M
Op. Cash Flow
$254.58M
Business
Coastal Financial Corporation is a bank holding company operating Coastal Community Bank, a Washington state-chartered commercial bank and Federal Reserve member bank. The company provides community banking services including commercial and industrial loans, commercial real estate loans, residential mortgages, and consumer loans to businesses and individuals in the Puget Sound region of Washington. Through its CCBX segment, the company provides banking-as-a-service enabling digital financial service partners to offer banking products to their customers, with 28 partner relationships as of December 31, 2025, and operates 14 full-service banking locations.
Summary from 10-K filed 2026-02-27
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Interest and fees on loans | 398 | 372 | 304 | 183 | 82 | |
| Interest on interest earning deposits with other banks | 29 | 21 | 15 | 7 | 608,000 | |
| Interest on investment securities | 3 | 3 | 3 | 2 | 79,000 | |
| Dividends on other investments | 531,000 | 435,000 | 387,000 | 345,000 | 284,000 | |
| Total interest income | 430 | 397 | 323 | 192 | 83 | |
| Interest on deposits | 117 | 121 | 89 | 19 | 2 | |
| Interest on borrowed funds | 3 | 3 | 3 | 1 | 1 | |
| Total interest expense | 120 | 124 | 92 | 20 | — | |
| Net interest income | 310 | 273 | 232 | 172 | 79 | |
| PROVISION FOR CREDIT LOSSES | 193 | 278 | 184 | 79 | — | |
| Net interest income/(expense) after provision for credit losses | 117 | −5 | 48 | 93 | 70 | |
| Service charges and fees | 4 | 4 | 4 | 4 | 4 | |
| Loan referral fees | 0 | 168,000 | 683,000 | 810,000 | 2 | |
| Gain on sales of loans, net | 0 | 0 | 253,000 | 0 | 396,000 | |
| Unrealized gain (loss) on equity securities, net | −414,000 | 27,000 | 279,000 | −153,000 | 1 | |
| Other income | 3 | 2 | 884,000 | 1 | 2 | |
| Noninterest income, excluding BaaS program income and BaaS indemnification income | 6 | 5 | 6 | 6 | 11 | |
| Total noninterest income | 232 | 308 | 204 | 123 | 28 | |
| Salaries and employee benefits | 86 | 70 | 66 | 52 | 37 | |
| Occupancy | 4 | 4 | 4 | 4 | 4 | |
| Data processing and software licenses | 24 | 15 | 9 | 7 | 5 | |
| Legal and professional expenses | 20 | 16 | 15 | 7 | 3 | |
| Point of sale expense | 350,000 | 325,000 | 481,000 | 368,000 | 671,000 | |
| Excise taxes | 3 | 1 | 2 | 2 | 2 | |
| "Federal Deposit Insurance Corporation (""FDIC"") assessments" | 3 | 3 | 3 | 3 | 2 | |
| Director and staff expenses | 3 | 2 | 2 | 2 | 1 | |
| Marketing | 631,000 | 162,000 | 517,000 | 351,000 | 451,000 | |
| Other expense | 7 | 6 | 5 | 5 | 4 | |
| Noninterest expense, excluding BaaS loan and BaaS fraud expense | 151 | 118 | 108 | 82 | 59 | |
| BaaS loan and fraud expense | 137 | 128 | 87 | 83 | 4 | |
| Total noninterest expense | 288 | 246 | 195 | 165 | 63 | |
| Income before provision for income taxes | 61 | 57 | 57 | 51 | 34 | |
| PROVISION FOR INCOME TAXES | 14 | 12 | 13 | 10 | 7 | |
| NET INCOME | 47 | 45 | 45 | 41 | 27 | |
| Basic earnings per common share (in usd per share) | 3.12 | 3.35 | 3.36 | 3.14 | 2.25 | |
| Diluted earnings per common share (in usd per share) | 3.06 | 3.26 | 3.27 | 3.01 | 2.16 | |
| Basic (in shares) | 15 | 14 | 13 | 13 | 12 | |
| Diluted (in shares) | 15 | 14 | 14 | 14 | 13 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2024 2024-09-30 | FY 2024 2024-06-30 | FY 2024 2024-03-31 |
|---|---|---|---|---|---|---|
| Cash and due from banks | 34 | 37 | — | — | — | |
| Interest earning deposits with other banks | 703 | 416 | — | — | — | |
| Investment securities, available-for-sale, at fair value | 29,000 | 35,000 | — | — | — | |
| Investment securities, held-to-maturity, at amortized cost | 48 | 47 | — | — | — | |
| Other investments | 13 | 11 | — | — | — | |
| Loans held for sale | 71 | 21 | — | — | — | |
| Loans receivable | 3,750 | 3,487 | 3,414 | 3,322 | 3,195 | |
| Allowance for credit losses | −170 | −177 | −172 | −149 | −140 | |
| Total loans receivable, net | 3,580 | 3,310 | 3,242 | 3,173 | 3,055 | |
| CCBX credit enhancement asset | 178 | 182 | 174 | 149 | 142 | |
| CCBX receivable | 23 | 14 | — | — | — | |
| Premises and equipment, net | 29 | 27 | — | — | — | |
| Lease right-of-use assets | 5 | 5 | — | — | — | |
| Accrued interest receivable | 19 | 21 | 22 | 22 | 22 | |
| Bank-owned life insurance, net | 14 | 13 | — | — | — | |
| Deferred tax asset, net | 0 | 4 | — | — | — | |
| Intangible assets, net | 5 | 0 | — | — | — | |
| Other assets | 20 | 14 | — | — | — | |
| Total assets | 4,741 | 4,121 | 4,064 | 3,960 | 3,863 | |
| Deposits | 4,144 | 3,585 | — | — | — | |
| Principal amount $45,000 (less unamortized debt issuance costs of $557 and $707) at December 31, 2025 and December 31, 2024, respectively | 44 | 44 | — | — | — | |
| Principal amount $3,609 (less unamortized debt issuance costs of $16 and $18 at December 31, 2025 and December 31, 2024, respectively) | 4 | 4 | — | — | — | |
| Deferred compensation | 267,000 | 332,000 | — | — | — | |
| Accrued interest payable | 1 | 962,000 | — | — | — | |
| Lease liabilities | 5 | 5 | — | — | — | |
| CCBX payable | 27 | 29 | 38 | 33 | 31 | |
| Deferred tax liability, net | 853,000 | 0 | — | — | — | |
| Other liabilities | 23 | 13 | — | — | — | |
| Total liabilities | 4,250 | 3,683 | 3,733 | 3,643 | 3,559 | |
| Authorized: 25,000,000 shares at December 31, 2025 and December 31, 2024; issued and outstanding: zero shares at December 31, 2025 and December 31, 2024 | 0 | 0 | — | — | — | |
| Authorized: 300,000,000 shares at December 31, 2025 and December 31, 2024; 15,140,192 shares at December 31, 2025 issued and outstanding and 14,935,298 shares at December 31, 2024 issued and outstanding | 233 | 228 | — | — | — | |
| Retained earnings | 258 | 211 | — | — | — | |
| Accumulated other comprehensive loss, net of tax | −1,000 | −2,000 | — | — | — | |
| Total shareholders equity | 491 | 439 | — | — | — | |
| Total liabilities and shareholders equity | 4,741 | 4,121 | 4,064 | 3,960 | 3,863 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net income | 47 | 45 | 45 | 41 | 27 | |
| Depreciation and amortization | 7 | 5 | 2 | 2 | 2 | |
| Loss on disposition of fixed assets | 26,000 | 0 | 39,000 | 35,000 | 0 | |
| Decrease in operating lease right-of-use assets | 899,000 | 835,000 | 833,000 | 1 | 1 | |
| Decrease in operating lease liabilities | −915,000 | −848,000 | −857,000 | −1 | −1 | |
| Net amortization on investment securities | 13,000 | 5,000 | −25,000 | −50,000 | 32,000 | |
| Stock-based compensation | 9 | 5 | 4 | 3 | 1 | |
| Increase in bank-owned life insurance value | −516,000 | −485,000 | 27,000 | −360,000 | −172,000 | |
| Deferred tax expense | 4 | 138,000 | 14 | −11 | −3 | |
| Net change in CCBX receivable | −10 | −5 | 1 | −9 | −1 | |
| Net change in CCBX credit enhancement asset | 4 | −69 | −55 | −45 | −9 | |
| Net change in CCBX payable | −2 | −1 | 10 | 19 | 2 | |
| Net change in other assets and liabilities | 3 | 3 | −13 | −10 | 4 | |
| Total adjustments | 208 | 215 | 147 | 26 | 3 | |
| Net cash provided by operating activities | 255 | 260 | 192 | 67 | 30 | |
| Purchase of investment securities held-to-maturity | −5 | 0 | −50 | 0 | 0 | |
| Net (increase) decrease in FRB and FHLB securities | −2 | −475,000 | 730,000 | −2 | −950,000 | |
| Change in equity investments, net | −556,000 | −71,000 | −123,000 | — | — | |
| Principal paydowns of investment securities available-for-sale | 7,000 | 8,000 | 9,000 | 17,000 | 33,000 | |
| Principal paydowns of investment securities held-to-maturity | 4 | 4 | 417,000 | 256,000 | 2 | |
| Maturities and calls of investment securities available-for-sale | 0 | 100 | 250,000 | 70 | 103 | |
| Purchase of bank owned life insurance | −19,000 | −20,000 | −230,000 | −53,000 | −5 | |
| Payments To Acquire Assets, Net Of Cash Acquired | −2 | 0 | 0 | — | — | |
| Proceeds from sales of loans held for sale | 6,638 | 1,525 | 600 | — | — | |
| Investments in loans receivable | 26 | −202 | −91 | −913 | −142 | |
| Increase in loans receivable, net | −7,176 | −2,025 | −1,047 | −913 | −142 | |
| Purchases of premises and equipment, net | −8 | −10 | −6 | −3 | −3 | |
| Net cash used by investing activities | −526 | −609 | −594 | −988 | −240 | |
| Net increase in demand deposits, money market, and savings | 564 | 226 | 554 | 468 | 981 | |
| Net decrease in time deposits | −5 | −811,000 | −11 | −14 | −14 | |
| Proceeds from exercise of stock options, net of shares withheld to cover | 104,000 | 1 | 618,000 | 1 | 359,000 | |
| Net cash for shares held to cover on restricted stock vesting | −4 | 0 | 0 | — | — | |
| Proceeds from public offering, expense true-up | 82,000 | 92 | 0 | 0 | 32 | |
| Net cash provided by financing activities | 556 | 318 | 543 | 450 | 860 | |
| NET CHANGE IN CASH, DUE FROM BANKS AND RESTRICTED CASH | 284 | −31 | 141 | −471 | 650 | |
| Interest paid | 119 | 124 | 91 | 20 | 4 | |
| Income taxes paid | 9 | 11 | 7 | — | — | |
| Fair value adjustment of securities available-for-sale, gross | 0 | 535,000 | 2 | −3 | −37,000 | |
| Lease liabilities arising from obtaining right-of-use assets | 501,000 | 122,000 | 2 | 0 | −41,000 | |
| Transfer from loans to loans held for sale | 6,689 | 1,545 | 600 | 153 | 0 | |
| Settlement of receivables as consideration in asset acquisition | 2 | 0 | 0 | — | — |
Filings
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Frequently asked questions
What is COASTAL FINANCIAL CORP's CIK number?
COASTAL FINANCIAL CORP's SEC CIK number is 0001437958 (1437958). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find COASTAL FINANCIAL CORP's SEC filings?
All of COASTAL FINANCIAL CORP's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did COASTAL FINANCIAL CORP last report earnings?
COASTAL FINANCIAL CORP (CCB) most recently filed an earnings 8-K with the SEC on Apr 29, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001437958-26-000031). This is COASTAL FINANCIAL CORP's most recent earnings filing of record — not a forecast of its next earnings date.
What is COASTAL FINANCIAL CORP's most recent earnings 8-K?
COASTAL FINANCIAL CORP's latest earnings 8-K (Item 2.02) was filed Apr 29, 2026 under accession 0001437958-26-000031. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View COASTAL FINANCIAL CORP's latest earnings 8-K →
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