Amendment: Coastal Financial Corporation filed SEC Form 8-K: Regulation FD Disclosure, Financial Statements and Exhibits
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Major Banks
Finance
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K/A
(Amendment No. 1)
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 28, 2025
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Explanatory Note.
On January 28, 2025, Coastal Financial Corporation, a Washington corporation (the “Company”), filed a Current Report on Form 8-K (the “Original 8-K”) with the U.S. Securities and Exchange Commission (the “SEC”), which included as Exhibit 99.1 to the Original 8-K an investor presentation (the “Investor Presentation”), containing the Company’s financial highlights for the fiscal quarter and fiscal year ended December 31, 2024. The Company is filing this Amendment No.1 to the Original Form 8-K (the “Amended 8-K”) to furnish a revised investor presentation that reflects corrections to certain items in the balance sheet, income statement and statement of cash flows included in the Original 8-K, resulting from errors made in the Company’s accounting related to certain fintech partners.
Item 7.01 Regulation FD Disclosures.
On March 17, 2025, the Company filed an updated Investor Presentation with financial information for the fourth quarter and fiscal year ended December 31, 2024, a copy of which is furnished as Exhibit 99.1 to this Amended 8-K (the “Amended Investor Presentation”).
As noted in the Explanatory Note, the Amended Investor Presentation corrects certain items in the balance sheet, income statement and statement of cash flows included in the Original 8-K, resulting from errors made in the Company’s accounting related to certain fintech partners. The adjustments resulted in impacts to certain items of the Company’s income statement but did not impact the Company’s net income or earnings per share in the financial statements for the fiscal quarter and fiscal year ended December 31, 2024.
The information in Item 7.01 of this Amended 8-K, including the Amended Investor Presentation, is being “furnished” and will not, except to the extent required by applicable law or regulation, be deemed “filed” by the Company for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor will any of such information or exhibit be deemed incorporated by reference into any filings the Company has made or may make under the Securities Act of 1933, as amended, or the Exchange Act, except as otherwise expressly stated in such filing.
Item 9.01 Financial Statements and Exhibits
Exhibits
Number | Description | |||||||
| 99.1 | ||||||||
| 104 | Cover Page Interactive Data File (Embedded within the Inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| COASTAL FINANCIAL CORPORATION | ||||||||
Date: March 17, 2025 | By: | /s/ Joel G. Edwards | ||||||
| Joel G. Edwards | ||||||||
| Executive Vice President and Chief Financial Officer | ||||||||