Coastal Financial Corporation reports developments for Coastal Community Bank, including community banking activity, deposit and loan trends, and the CCBX banking-as-a-service segment. Recurring updates cover quarterly operating results, program fee income, partner onboarding, product expansion with broker-dealers and digital financial service partners, and technology investments supporting embedded finance offerings.
Company news also includes completed brand and corporate actions, such as Coastal's acquisition of the GreenFi brand of climate-friendly consumer financial services products. Leadership appointments and risk-management, credit, product, commercial, and information-security roles are recurring governance and operating themes tied to the bank holding company's community banking and digital banking strategy.
Coastal Financial Corporation (CCB) returned to profitability in the third quarter of 2026, reporting net income of $13.8 million. Diluted earnings were $0.89 per share, versus a $2.76 loss in the second quarter and $0.88 earnings a year earlier. Banking-as-a-service program fees reached $14.1 million, up 17.6% sequentially and 79.6% year over year.
Noninterest expense fell to $84.8 million from $141.1 million, largely reflecting the absence of a prior-quarter credit enhancement valuation adjustment. An additional $3.1 million of provision expense lacked offsetting credit enhancement income because collection was not considered probable. Coastal expects potential annualized expense savings of up to $20.0 million over 4–6 quarters. The Bluevine relationship is expected to end when its acquisition closes, anticipated in the second quarter of 2027; Coastal held $452.4 million of related on-balance-sheet deposits.
Coastal Financial Corporation (CCB) will report third quarter 2026 financial results before the market opens on October 29, 2026. Management will host a conference call that day at 8:00 a.m. ET (5:00 a.m. PT) to discuss the results. A live webcast and an archived replay will be available on the company's investor relations website.
Coastal Financial (CCB) subsidiary Coastal Community Bank announced a $5 million investment in the Solomon Hess SBA Loan Fund.
The investment supports the SBA 7(a) small-business loan program in Snohomish and King Counties and advances the bank's Federal Reserve-approved Community Reinvestment Act strategic plan. Through purchases of federally guaranteed portions of SBA loans, the investment supports access to capital for businesses that may not qualify for traditional financing. Coastal expects the investment to support economic development across its assessment area, including opportunities for business growth and workforce development.
Coastal Financial (CCB) announced that its subsidiary Coastal Community Bank invested in Koz Development's PNW Attainable Workforce Housing Fund. The fund provides equity financing for attainable and workforce housing in Washington and Oregon. It seeks to serve working households that earn too much for traditional housing assistance but struggle to afford market-rate housing, with developments near jobs, education, transportation and essential services.
Coastal Financial (CCB)'s subsidiary Coastal Community Bank has awarded $375,000 in multiyear grants to three nonprofits serving Snohomish and King counties.
LISC Puget Sound received $150,000 over three years for community development in Everett and Snohomish County, including projects expanding housing and economic opportunity. VOA of Western Washington received $150,000 over three years toward construction of the Lynnwood Neighborhood Center, which is expected to serve more than 20,000 people annually. Housing Consortium of Everett and Snohomish County received $75,000 over three years for staff positions supporting the creation and preservation of affordable housing.
Coastal Financial (CCB) subsidiary Coastal Community Bank earned silver in the Best Bank category of the Seattle Times' Best in the PNW program.
The bank also awarded $48,500 in impact grants to six nonprofit organizations serving Snohomish and King counties. The funding will support financial education, workforce development, affordable housing and basic needs assistance, including resources for women and children experiencing homelessness. Employees participated in more than ten nonprofit fundraising events in the past two weeks.
Coastal Financial (Nasdaq: CCB), parent of Coastal Community Bank, reports that Coastal Community Bank was named Best Bank in the Best of Stanwood-Camano 2026, a community-voted recognition. The bank highlights its ongoing local engagement through volunteerism, financial education, youth development, and charitable activities across its markets.
Recent initiatives include sponsoring a 3-on-3 basketball tournament in Everett with 235 teams, supporting Youth Vendor Day in Snohomish, and running a School Supply Drive for Everett and Arlington school districts through August 7. According to Coastal, the $5.46 billion bank operates 14 full-service branches and offers banking-as-a-service via its CCBX segment.
Coastal Financial (Nasdaq: CCB) reported a second quarter 2026 net loss of $42.1 million, or $(2.76) per diluted share, versus net income of $12.0 million in Q1 2026 and $11.0 million a year earlier. The loss was driven primarily by $68.8 million of credit expense tied to a single CCBX Banking-as-a-Service partner, including a $22.8 million provision for credit losses and a $46.0 million valuation adjustment to a credit enhancement asset.
Net interest income reached a record $89.4 million, while total BaaS program fee income rose to $12.0 million, up 10.3% from Q1 2026. Loans receivable increased 9.0% quarter over quarter to $4.21 billion, and off-balance sheet credit cards with fee potential grew to 881,659, up 32.18% from March 31, 2026. Noninterest income increased to $88.7 million, but noninterest expense rose sharply to $141.1 million, including $4.4 million of capitalized software amortization tied to technology modernization.
The company remained well capitalized at June 30, 2026, with a common equity Tier 1 ratio of 10.86% and a Tier 1 leverage ratio of 9.11%, though capital ratios declined by about one percentage point due to the charges. Cash and cash equivalents totaled $1.01 billion, with an additional $1.12 billion of contingent borrowing capacity and no outstanding borrowings. Book value per share was $30.33. Return on average assets declined to (3.32)% and return on average equity to (33.10)%.
Coastal also appointed Christopher D. Adams, Chairman since 2019, as Executive Chairman to focus more on long-term strategy and leadership development alongside CEO Eric Sprink.
Coastal Financial Corporation (Nasdaq: CCB) will release its second quarter 2026 financial results pre-market on Thursday, July 30, 2026. Management will host a conference call at 8:00 a.m. ET (5:00 a.m. PT), with a live webcast and replay available on the company’s investor relations website.
Coastal Financial Corporation (Nasdaq: CCB) announced a CFO transition effective August 15, 2026. Brandon Soto will step down as Executive Vice President and Chief Financial Officer to become CEO of a banking subsidiary of a privately held financial technology company. Former longtime CFO Joel Edwards, who served from 2012 until retiring in 2025 and currently advises the company, has been appointed Interim Chief Financial Officer starting the same date. Coastal Financial will begin a search for a permanent CFO, considering internal and external candidates. Soto will remain with the company through the filing and certification of its Q2 2026 Form 10-Q to support an orderly transition.