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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 (NASDAQ: CCB) has been awarded the Raymond James Community Bankers Cup for 2019, recognizing it among the top 10% of community banks in the U.S. This accolade reflects exceptional performance in various financial metrics, including nonperforming assets, core deposit percentage, net interest margin, efficiency ratio, return on average assets, and return on average tangible common equity. President & CEO Eric Sprink emphasized the honor as a testament to the dedication of the company's board and staff since going public in 2017.
Coastal Financial Corporation (Nasdaq: CCB) has shifted its 2020 Annual Meeting of Shareholders to a call-in format, due to the COVID-19 pandemic and the Washington State stay-at-home order extension. The meeting will occur on May 18, 2020, at 6:00 p.m. Pacific Time, unchanged from the originally scheduled date. Shareholders must register in advance to participate. Voting instructions for shareholders of record will be provided, and questions related to the meeting's agenda can be submitted in advance. The bank operates 14 branches and plans to open a 15th in Arlington, WA.
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