Welcome to our dedicated page for Coastal Financial news (Ticker: CCB), a resource for investors and traders seeking the latest updates and insights on Coastal Financial stock.
Coastal Financial Corporation (Nasdaq: CCB) is an Everett, Washington-based bank holding company for Coastal Community Bank, with operations that span a community-focused bank segment and a Banking-as-a-Service (BaaS) segment known as CCBX. The CCB news page on Stock Titan aggregates company announcements, earnings releases, executive changes, capital markets activity, and updates on its digital banking partnerships.
Investors and analysts following CCB can use this page to review quarterly and annual financial results, as reported in Coastal’s earnings press releases and related Form 8-K filings. These updates include information on net income, loan and deposit trends, noninterest income, off-balance sheet activity, and regulatory capital ratios for both the holding company and Coastal Community Bank.
Because Coastal operates CCBX as a BaaS platform, news coverage also features developments in its relationships with broker-dealers, digital financial service providers, and other embedded finance partners. Examples from recent releases include updates on CCBX partner pipelines, new program launches, loan sales and fee income dynamics, and risk management practices such as indemnification arrangements with partners.
In addition, the CCB news feed highlights corporate actions and strategic moves, such as public offerings of common stock under an effective shelf registration statement, and brand-related transactions like Coastal’s acquisition of the GreenFi climate-focused consumer financial services brand from Mission Financial Partners. Executive leadership changes, including appointments to roles such as Chief Financial Officer, Chief Product Officer, Chief Commercial Officer, Chief Credit Officer, and Chief Information Security Officer, are also documented in news releases and corresponding 8-K filings.
By reviewing these items in one place, readers can track how Coastal’s community bank and CCBX segments evolve over time, how management describes its growth and risk management priorities, and how capital and partnership decisions affect the company’s overall banking platform.
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Coastal Financial Corporation (Nasdaq: CCB) reported a record net income of $10.2 million ($0.76 per diluted share) for Q2 2022, up from $6.2 million ($0.46 per share) in Q1 2022. Total assets rose 4.8% to $2.97 billion, and loans increased by $461.2 million (24.0%) excluding PPP impacts. CCBX deposits surged 18.5% to $1.07 billion, contributing to total deposits of $2.70 billion (up 4.7%). Net interest income climbed 36.3% to $39.9 million, reflecting a net interest margin of 5.66%.
Coastal Community Bank has joined the Bankers Helping Bankers (BHB) Association as a founding member, aiming to address the unique needs of BaaS Sponsor banks. The BHB Association coordinates advocacy efforts for responsible BaaS delivery and promotes best practices. With a notable rise in BaaS participation driven by fintech growth, Coastal Community Bank focuses on diverse partners and innovative service delivery. As of March 31, 2022, the bank reported total assets of $2.83 billion and total deposits of $2.58 billion.
Coastal Financial Corporation (Nasdaq: CCB) has appointed Jeff Ketelhut as Executive Vice President and BSA Officer. He will enhance the bank's compliance program and work with regulators. Ketelhut brings extensive experience from MetaBank and as a National Bank Examiner. Coastal’s total assets are $2.83 billion, with gross loans at $1.96 billion and deposits of $2.58 billion as of March 31, 2022. The company aims to strengthen its compliance efforts and operational oversight.
Coastal Financial Corporation (Nasdaq: CCB) has appointed Curt Queyrouze as President while Eric Sprink remains CEO. This expansion in leadership aims to support the bank's growth in community banking and its Banking as a Service (BaaS) division, CCBX. Queyrouze brings expertise in credit, risk management, and fintech, previously serving as President and CEO of TAB Bank. Coastal Financial demonstrates a commitment to innovative banking solutions and aims to enhance services for diverse clients, including the under-served. As of March 31, 2022, the company reported total assets of $2.83 billion.
Coastal Financial Corporation (CCB) reported strong first-quarter results for 2022, with total assets rising by $198.2 million, or 7.5%, to $2.83 billion. Non-PPP loan growth surged by $283.8 million, or 17.3%. CCBX loans increased by 48.7%, while deposits grew by $212.7 million, or 9.0%. Total revenue rose by 31.7%, but net income fell to $6.2 million, or $0.46 per diluted share, compared to $7.3 million in the previous quarter. Despite the decrease in PPP loans, the overall performance reflects solid growth in core banking activities and increased net interest income.
Coastal Financial Corporation (NASDAQ: CCB) has been awarded the Raymond James Community Bankers Cup for 2021, marking its third consecutive win. This award honors the top 10% of community banks based on profitability, operational efficiency, and balance sheet metrics among 229 contenders. Essential performance indicators include nonperforming assets, core deposit percentage, net interest margin, efficiency ratio, and return on average assets. As of December 31, 2021, Coastal reported total assets of $2.64 billion, gross loans of $1.74 billion, and deposits of $2.36 billion.
Coastal Financial Corporation (Nasdaq: CCB) reported significant growth in Q4 2021, with non-PPP loans rising by $186.8 million (12.9%) and CCBX loans soaring by 82.3% to $346.6 million. Total assets increased by 7.5% to $2.64 billion and net income improved by 9.1% to $7.3 million or $0.57 per diluted share. Annual results showed a 66.3% increase in total deposits and a 49.2% rise in total assets compared to 2020. A successful public offering generated $34.5 million to support growth.
Coastal Financial Corporation (NASDAQ: CCB) announced the successful closing of its public offering of 851,853 shares of common stock at $40.50 per share, totaling approximately $34.5 million in gross proceeds. The transaction included an exercised option for additional shares. Proceeds will support general corporate purposes and the growth of Coastal Community Bank. The offering was managed by Keefe, Bruyette & Woods, Inc. and other firms, conducted under an effective shelf registration statement.
Coastal Financial Corporation (NASDAQ: CCB) announced a public offering of 740,742 shares at $40.50 each, aiming for gross proceeds of approximately $30 million. The underwriters have a 30-day option for an additional 111,111 shares, potentially raising total proceeds to $34.5 million. The funds will support general corporate purposes, including growth opportunities. The offering is set to close around December 17, 2021, subject to customary conditions. Keefe, Bruyette & Woods is the bookrunning manager, with several co-managers involved.
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