Coastal Financial Corporation filings document the bank holding company's financial results, governance matters, and disclosures for Coastal Community Bank and its CCBX banking-as-a-service segment. Form 8-K reports furnish quarterly results of operations and financial condition, Regulation FD investor presentation materials, and material corporate events.
Proxy and governance filings cover director matters, executive compensation, equity awards, board composition, and related shareholder disclosures. Recent 8-K governance records also document board appointments and committee assignments connected to technology and CCBX oversight, reflecting formal disclosure around the company's banking, fintech partnership, and risk-governance structure.
COASTAL FINANCIAL CORP director Lane Thomas D reported a small open-market sale of 300 shares of Common Stock at $72.60 per share. The transaction was made in an indirect account labeled "Child (2)", which now holds zero shares after the sale.
Separate from this, Lane Thomas D continues to hold 83,832 shares directly, 54,280 shares through blind trust accounts, and 110 shares indirectly for a child, showing that the reported sale represents only a minor portion of his overall reported holdings.
Coastal Financial Corporation reported stronger results for the quarter ended March 31, 2026. Net income rose to $12.0 million, up from $9.7 million a year earlier, with diluted earnings per share increasing to $0.78 from $0.63.
Total assets expanded to $5.66 billion from $4.74 billion at December 31, 2025, driven by growth in loans and very large cash and interest-earning deposits. Loans receivable reached $3.86 billion, while deposits increased to $5.04 billion, reflecting strong balance sheet growth.
The CCBX banking-as-a-service segment remains central to the business, generating substantial BaaS program income of $10.9 million and BaaS indemnification income of $53.8 million. At the same time, the company recorded a sizeable provision for credit losses of $51.4 million and net charge-offs of $49.6 million, largely tied to CCBX consumer and credit card portfolios. The allowance for credit losses increased to $172.4 million, and nonaccrual loans totaled $32.4 million, indicating elevated but managed credit risk as the company continues to grow its technology-driven lending platform.
Coastal Financial Corp Chief Risk Officer Elizabeth Ann Sarvela reported a tax-related share disposition tied to restricted stock unit vesting. On this date, 68 shares of common stock were withheld at $75.80 per share to cover withholding taxes upon partial vesting of RSUs.
After this withholding, she directly holds 3,293 shares of common stock, including 2,168 time-based restricted stock units granted under the Coastal Financial Corporation 2018 Omnibus Incentive Plan that will vest in remaining annual installments.
Coastal Financial Corp director and CCBX president Brian T. Hamilton reported an open‑market sale of company stock and a separate tax‑related share disposition. He sold 3,079 shares of common stock at an average price of $75.4378 per share in an open‑market transaction.
In a separate transaction, 230 shares were disposed of to cover withholding taxes upon partial vesting of restricted stock units (RSUs), which is a non‑market event. After these transactions, he directly holds 74,571 shares of common stock, plus additional RSUs scheduled to vest over several years.
According to a footnote, the sale was effected under a pre‑arranged Rule 10b5‑1 trading plan adopted by the reporting person, indicating the timing was planned in advance rather than discretionary.
Brian Hamilton filed a Form 144 notifying proposed sales of Common Stock in connection with prior equity compensation. The notice lists multiple restricted-stock grants dated 09/30/2024, 04/30/2025, and 06/01/2025, and discloses completed sales on 02/04/2026, 02/06/2026, 03/03/2026, 03/30/2026, and 04/01/2026.
Coastal Financial Corporation, through its subsidiary Coastal Community Bank, entered into a non-binding term sheet with Evolve Bank & Trust covering a diverse set of banking-as-a-service programs operated by Evolve. These programs’ assets and deposits may be acquired by the bank following review.
The bank plans to promptly begin due diligence on selected Evolve programs, and both parties intend to work toward definitive agreements for any programs they mutually elect. Any acquisition will depend on signed definitive agreements, required regulatory approvals, and other customary closing conditions. The disclosure is furnished under Regulation FD and is not deemed filed.
Coastal Financial Corporation shared an investor presentation outlining its first quarter 2026 performance and Banking-as-a-Service (BaaS) strategy. Total assets rose to $5.66 billion, up 19.5% from December 31, 2025, as CCBX partner growth drove strong balance sheet expansion.
Total loans reached $3.86 billion, up 2.9% sequentially, while deposits climbed 21.6% to $5.04 billion, aided by new CCBX partner deposits. The company sold $3.28 billion of CCBX loans and swept $2.81 billion of deposits off balance sheet, generating $710,000 of sweep-related noninterest income.
For the quarter, revenue was $149.4 million, up 8.3% from the prior quarter, and net income was $12.0 million, down 4.9% from last quarter but up 23.5% from a year earlier. Diluted EPS was $0.78, with return on average assets of 0.98%.
Coastal Financial Corporation reported first quarter 2026 net income of $12.0 million, or $0.78 per diluted share, down slightly from $0.82 in the prior quarter but up from $0.63 a year earlier. Total assets grew to $5.66 billion, a 19.5% increase from December 31, 2025, driven by strong CCBX banking-as-a-service activity.
Total deposits rose to $5.04 billion, up 21.6% quarter over quarter, while loans receivable reached $3.86 billion. Net interest income increased to $83.4 million and net interest margin was 7.00%, slightly below both the prior quarter and prior year as higher BaaS loan expense weighed on net spreads.
Noninterest income was $66.1 million, supported by BaaS program income and credit and fraud enhancements. Asset quality metrics remained controlled, with nonperforming assets at 1.19% of total assets and an allowance for credit losses equal to 4.47% of loans, including 8.19% coverage on CCBX loans. Capital ratios stayed well above well-capitalized thresholds, with common equity Tier 1 at 12.08% at the holding company level.
Coastal Financial Corporation is asking shareholders to vote at its 2026 virtual-only annual meeting on director elections, auditor ratification and an advisory say-on-pay resolution. The meeting is set for 6:00 p.m. Pacific Time on May 27, 2026, with advance online registration required.
Shareholders of record at the close of business on March 27, 2026, when 15,233,522 shares were outstanding, may vote. Five directors are nominated, Baker Tilly US, LLP is proposed for ratification as independent auditor for 2026, and shareholders will cast a non-binding vote on executive compensation. The proxy also details governance practices, committee structures, risk oversight, human capital initiatives and community engagement.