Coastal Financial Corporation filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

$CCB
Major Banks
Finance
Get the next $CCB alert in real time by email
ck1437958-20250128
0001437958FALSE00014379582025-01-282025-01-28

 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
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
COASTAL FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
Washington001-3858956-2392007
(State or other jurisdiction
of incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
5415 Evergreen Way, Everett, Washington 98203
(Address of principal executive offices, including zip code)
Registrant’s telephone number, including area code:  (425) 257-9000
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) 
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading
Symbol(s)
Name of each exchange on which registered
Common stock, no par value per shareCCBThe Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company   
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  



Item 2.02    Results of Operations and Financial Condition
On January 28, 2025 Coastal Financial Corporation (the “Company”) issued a press release announcing its results of operations and financial condition for the fiscal quarter ended December 31, 2024 (the “Press Release”). The Press Release is “furnished” as Exhibit 99.1 to this Current Report on Form 8-K pursuant to General Instruction B.2 of Form 8-K and the information provided in Item 2.02 of this report, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that Section. The information provided in Item 2.02 of this report, including Exhibit 99.1, shall not 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
104Cover 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: January 28, 2025
By:/s/ Joel G. Edwards
Joel G. Edwards
Executive Vice President and Chief Financial Officer

Get the next $CCB alert in real time by email

Chat with this insight

Save time and jump to the most important pieces.

Recent Analyst Ratings for
$CCB

DatePrice TargetRatingAnalyst
10/29/2024$67.00 → $76.00Outperform
Hovde Group
7/30/2024$55.00 → $67.00Outperform
Hovde Group
5/3/2024$57.50 → $55.00Outperform
Hovde Group
10/28/2022$57.00Strong Buy
Raymond James
1/13/2022$69.00Strong Buy
Raymond James
12/20/2021$70.00Mkt Perform → Outperform
Keefe Bruyette
7/8/2021$36.00Overweight
Stephens & Co.
More analyst ratings

$CCB
Press Releases

Fastest customizable press release news feed in the world

See more
  • Shining a Light on New Investment Opportunities: Small Caps Emerge from the Shadows at the Groundhog Investment Conference

    Smaller public U.S. companies have underperformed larger company stocks for the better part of the past decade – but the investment professionals at Emerald Asset Management are seeing the emerging signs of a "Springtime for Small Caps" at their 32nd annual Groundhog Day Investment Forum, coming up on Thursday, February 6th online as an all-event virtual stream. Emerald's team of analysts and portfolio managers will focus on sector- and industry- specific opportunities as they introduce an exclusive new whitepaper exploring the Springtime for Small Caps theme. The Forum will kick-off at 10:00am EST with the introduction of the Springtime for Small Caps whitepaper with Emerald's small-cap

    $CCB
    $FA
    $RXO
    Major Banks
    Finance
    Business Services
    Consumer Discretionary
  • Coastal Financial Corporation Announces Fourth Quarter 2024 Results

    EVERETT, Wash., Jan. 28, 2025 (GLOBE NEWSWIRE) -- Coastal Financial Corporation (NASDAQ:CCB) (the "Company", "Coastal", "we", "our", or "us"), the holding company for Coastal Community Bank (the "Bank"), through which it operates a community-focused bank with an industry leading banking as a service ("BaaS") segment, today reported unaudited financial results for the quarter ended December 31, 2024, including net income of $13.4 million, or $0.94 per diluted common share, compared to $13.5 million, or $0.97 per diluted common share, for the three months ended September 30, 2024 and $45.2 million, or $3.26 per diluted common share, for the year ended December 31, 2024, compared to $44.6 mil

    $CCB
    Major Banks
    Finance
  • Coastal Financial Corporation Prices Public Offering of Common Stock

    EVERETT, Wash., Dec. 10, 2024 (GLOBE NEWSWIRE) -- Coastal Financial Corporation (NASDAQ:CCB) ("Coastal" or the "Company"), the holding company for Coastal Community Bank (the "Bank"), today announced the pricing of an underwritten public offering of 1,200,000 shares of its common stock, no par value per share (the "Common Stock"), at a price to the public of $71.00 per share. Coastal also granted the underwriters a 30-day option to purchase up to an additional 180,000 shares of its Common Stock sold in this offering at the public offering price, less underwriting discounts and commissions. The aggregate gross proceeds of the offering will be approximately $85.2 million before deducting un

    $CCB
    Major Banks
    Finance

$CCB
Analyst Ratings

Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

See more

$CCB
Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

See more

$CCB
SEC Filings

See more

$CCB
Leadership Updates

Live Leadership Updates

See more
  • Coastal Community Bank Appoints President of CCBX Division

    EVERETT, Wash., Oct. 03, 2024 (GLOBE NEWSWIRE) -- Coastal Financial Corporation (NASDAQ:CCB) (the "Company"), and its subsidiary, Coastal Community Bank (the "Bank"), announced that its role of President of the Bank is to be bifurcated to accommodate the Bank's growth and plans for the future. The Bank announced the appointment of Brian Hamilton as President of CCBX, the FinTech and banking-as-a-service division of the Bank. Mr. Hamilton is a current member of the Company's Board of Directors. In connection with the reorganization of the role of the President, the Bank also announced that Curt Queyrouze, the President of the Company and the Bank, will serve as President of the community ba

    $CCB
    Major Banks
    Finance
  • WisdomTree Board Appoints Rilla Delorier to Board of Directors

    Tenured C-suite leader brings track record of driving innovation in financial services and tech sectors WisdomTree, Inc. (NYSE:WT), a global financial innovator, today announced that Rilla Delorier, an accomplished leader with over 30 years of executive experience leading digital transformation across the banking sector, has been appointed to WisdomTree's Board of Directors, having received the full support of the Board. Win Neuger, Chair of the WisdomTree Board, said, "Rilla is a powerhouse of digital transformation in financial services and will be a tremendous asset to our Board. She has a demonstrated ability to accelerate innovation and streamline operations, and her strategic expe

    $AUB
    $CCB
    $WT
    Major Banks
    Finance
    Investment Bankers/Brokers/Service

$CCB
Financials

Live finance-specific insights

See more
  • Coastal Financial Corporation Announces Fourth Quarter 2024 Results

    EVERETT, Wash., Jan. 28, 2025 (GLOBE NEWSWIRE) -- Coastal Financial Corporation (NASDAQ:CCB) (the "Company", "Coastal", "we", "our", or "us"), the holding company for Coastal Community Bank (the "Bank"), through which it operates a community-focused bank with an industry leading banking as a service ("BaaS") segment, today reported unaudited financial results for the quarter ended December 31, 2024, including net income of $13.4 million, or $0.94 per diluted common share, compared to $13.5 million, or $0.97 per diluted common share, for the three months ended September 30, 2024 and $45.2 million, or $3.26 per diluted common share, for the year ended December 31, 2024, compared to $44.6 mil

    $CCB
    Major Banks
    Finance
  • Coastal Financial Corporation Announces Third Quarter 2024 Results

    EVERETT, Wash., Oct. 28, 2024 (GLOBE NEWSWIRE) -- Coastal Financial Corporation (NASDAQ:CCB) (the "Company", "Coastal", "we", "our", or "us"), the holding company for Coastal Community Bank (the "Bank"), through which it operates a community-focused bank with an industry leading banking as a service ("BaaS") segment, today reported unaudited financial results for the quarter ended September 30, 2024, including net income of $13.5 million, or $0.97 per diluted common share, compared to $11.6 million, or $0.84 per diluted common share, for the three months ended June 30, 2024.  Management Discussion of the Quarter "The third quarter demonstrated strong momentum

    $CCB
    Major Banks
    Finance
  • Coastal Financial Corporation Announces Second Quarter 2024 Results

    Second Quarter 2024 Highlights: Net income of $11.6 million, or $0.84 per diluted common share, for the three months ended June 30, 2024, compared to $6.8 million, or $0.50 per diluted common share, for the three months ended March 31, 2024. Return on average assets ("ROA") of 1.21% for the three months ended June 30, 2024, compared to 0.73% for the three months ended March 31, 2024.Return on average equity ("ROE") of 15.22% for the three months ended June 30, 2024 compared to 9.21% for the three months ended March 31, 2024. Net interest margin increased to 7.13% for the quarter ended June 30, 2024, compared to 6.78% for the quart

    $CCB
    Major Banks
    Finance

$CCB
Large Ownership Changes

This live feed shows all institutional transactions in real time.

See more