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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.
Coastal Financial Corp Chief Credit Officer Freddy I. Rivas reported beneficial ownership of 12,050 shares of common stock. This position includes 3,689 time-based restricted stock units granted under the Coastal Financial Corporation 2018 Omnibus Incentive Plan, vesting in four remaining installments.
The holding also includes 8,250 performance-based restricted stock units that are eligible to vest between July 31, 2026 and July 31, 2029, depending on the achievement of specified performance goals. Each restricted stock unit represents the right to receive one share of common stock upon vesting.
Coastal Financial Corp Chief Risk Officer Elizabeth Ann Sarvela filed an initial ownership report showing she directly holds 3,361 shares of common stock. This figure includes 2,368 time-based restricted stock units granted under the Coastal Financial Corporation 2018 Omnibus Incentive Plan.
The footnote explains the RSUs vest over multiple years: 391 units in one remaining annual installment, 658 units over two, 434 units over three, and 885 units over four remaining annual installments. Each RSU converts into one share of common stock upon vesting.
COASTAL FINANCIAL CORP director and officer Brian T. Hamilton reported a tax-withholding disposition of 228 shares of Common Stock at $76.686 per share on April 1, 2026. The shares were sold to cover withholding taxes upon partial vesting of performance stock units under a Rule 10b5-1 plan.
After this transaction, Hamilton directly holds 77,880 shares of Common Stock, including multiple tranches of restricted stock units and performance-based RSUs scheduled to vest through April 30, 2028, subject to continued employment and specified return-on-equity performance conditions.