Coastal Financial Corporation operates as the bank holding company for Coastal Community Bank that provides various banking products and services to small to medium-sized businesses, professionals, and individuals in the Puget Sound region in Washington. It accepts a range of deposit products, including checking accounts, demand and savings accounts, time deposits, and money market accounts. The company offers commercial and industrial loans, including term loans, small business administration loans, commercial lines of credit, working capital loans, equipment financing, borrowing base loans, and other loan products; owner-occupied and non-owner-occupied real estate loans, and multi-family residential loans; construction and land development loans; residential real estate loans; and consumer and other loans, including automobile, boat, and recreational vehicle loans, as well as secured term loans. It also provides remote deposit capture, online banking, mobile banking, and direct and reciprocal deposit services, as well as debit cards. In addition, the company offers business accounts and cash management services, including business checking and savings accounts, and treasury services. It operates 15 full-service banking locations. Coastal Financial Corporation was founded in 1997 and is headquartered in Everett, Washington.
IPO Year: 2018
Exchange: NASDAQ
Website: coastalbank.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/29/2024 | $67.00 → $76.00 | Outperform | Hovde Group |
| 7/30/2024 | $55.00 → $67.00 | Outperform | Hovde Group |
| 5/3/2024 | $57.50 → $55.00 | Outperform | Hovde Group |
| 10/28/2022 | $57.00 | Strong Buy | Raymond James |
| 1/13/2022 | $69.00 | Strong Buy | Raymond James |
| 12/20/2021 | $70.00 | Mkt Perform → Outperform | Keefe Bruyette |
| 7/8/2021 | $36.00 | Overweight | Stephens & Co. |
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
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
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4 - COASTAL FINANCIAL CORP (0001437958) (Issuer)
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4 - COASTAL FINANCIAL CORP (0001437958) (Issuer)
4 - COASTAL FINANCIAL CORP (0001437958) (Issuer)
4 - COASTAL FINANCIAL CORP (0001437958) (Issuer)
Hovde Group reiterated coverage of Coastal Financial with a rating of Outperform and set a new price target of $76.00 from $67.00 previously
Hovde Group reiterated coverage of Coastal Financial with a rating of Outperform and set a new price target of $67.00 from $55.00 previously
Hovde Group reiterated coverage of Coastal Financial with a rating of Outperform and set a new price target of $55.00 from $57.50 previously
Raymond James resumed coverage of Coastal Financial with a rating of Strong Buy and set a new price target of $57.00
Raymond James initiated coverage of Coastal Financial with a rating of Strong Buy and set a new price target of $69.00
Keefe Bruyette upgraded Coastal Financial from Mkt Perform to Outperform and set a new price target of $70.00
Stephens & Co. initiated coverage of Coastal Financial with a rating of Overweight and set a new price target of $36.00
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
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
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 launch of a proposed underwritten public offering of shares of its common stock, no par value. Coastal expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of shares of its Common Stock sold in this offering at the public offering price, less underwriting discounts and commissions. The Company intends to use the net proceeds from this offering for general corporate purposes, including, without limitation, supporting investment opportunities a
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
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
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
First Quarter 2024 Highlights: Net income of $6.8 million, or $0.50 per diluted common share, for the three months ended March 31, 2024, compared to $9.0 million, or $0.66 per diluted common share for the three months ended December 31, 2023 Return on average assets ("ROA") of 0.73% for the three months ended March 31, 2024, compared to 0.97% for the three months ended December 31, 2023.Return on average equity ("ROE") of 9.21% for the three months ended March 31, 2024 compared to 12.35% for the three months ended December 31, 2023. Net interest margin of 6.78% for the quarter ended March 31, 2024, compared to 6.61% for the quarter ended December 31, 2023.Continued investment in technology
EVERETT, Wash., Feb. 02, 2024 (GLOBE NEWSWIRE) -- Coastal Financial Corporation (NASDAQ:CCB), the bank holding company for Coastal Community Bank, announced that Jason Wingo has joined the Bank as Senior Vice President, Head of Bank Security Act (BSA) and Anti-Money Laundering (AML) Strategy and Solution Management. He reports to Brian Ferrell, EVP, Head of Financial Crimes. Mr Wingo is a seasoned IT leader with more than 20 years of experience in multiple platforms, including web-based, client-server, and mainframe. He has extensive experience in requirement gathering, data analysis, development, testing, implementation, and deep expertise in AML, trading compliance, and project manageme
Fourth Quarter 2023 Highlights: Net income of $9.0 million, or $0.66 per diluted common share, for the three months ended December 31, 2023, compared to $10.3 million, or $0.75 per diluted common share for the three months ended September 30, 2023. Return on average assets ("ROA") of 0.97% for the three months ended December 31, 2023.Return on average equity ("ROE") of 12.35% for the three months ended December 31, 2023. Total assets increased $75.1 million, or 2.0%, to $3.75 billion for the quarter ended December 31, 2023, compared to $3.68 billion at September 30, 2023.Total loans, net of deferred fees increased $59.1 million, or 2.0%, to $3.03 billion for the quarter ended Decemb
EVERETT, Wash., Jan. 04, 2024 (GLOBE NEWSWIRE) -- Coastal Financial Corporation (NASDAQ:CCB), the bank holding company for Coastal Community Bank announced that Brian Hamilton has joined its Board of Directors. Mr. Hamilton is a seasoned financial technology executive and business leader, with more than 25 years of experience in the banking, lending, payments, and digital product development industries. A serial entrepreneur, with deep expertise in domestic and international settlement systems and digital platforms, Mr. Hamilton has held senior leadership roles at Capital One, serving as President of their Merchant Services division, Wells Fargo, and Verifone, in addition to founding and
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
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
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
First Quarter 2024 Highlights: Net income of $6.8 million, or $0.50 per diluted common share, for the three months ended March 31, 2024, compared to $9.0 million, or $0.66 per diluted common share for the three months ended December 31, 2023 Return on average assets ("ROA") of 0.73% for the three months ended March 31, 2024, compared to 0.97% for the three months ended December 31, 2023.Return on average equity ("ROE") of 9.21% for the three months ended March 31, 2024 compared to 12.35% for the three months ended December 31, 2023. Net interest margin of 6.78% for the quarter ended March 31, 2024, compared to 6.61% for the quarter ended December 31, 2023.Continued investment in technology
Fourth Quarter 2023 Highlights: Net income of $9.0 million, or $0.66 per diluted common share, for the three months ended December 31, 2023, compared to $10.3 million, or $0.75 per diluted common share for the three months ended September 30, 2023. Return on average assets ("ROA") of 0.97% for the three months ended December 31, 2023.Return on average equity ("ROE") of 12.35% for the three months ended December 31, 2023. Total assets increased $75.1 million, or 2.0%, to $3.75 billion for the quarter ended December 31, 2023, compared to $3.68 billion at September 30, 2023.Total loans, net of deferred fees increased $59.1 million, or 2.0%, to $3.03 billion for the quarter ended Decemb
Third Quarter 2023 Highlights: Net income of $10.3 million, or $0.75 per diluted common share, for the three months ended September 30, 2023, compared to $12.9 million, or $0.95 per diluted common share for the three months ended June 30, 2023. Return on average assets ("ROA") of 1.13% for the three months ended September 30, 2023.Return on average equity ("ROE") of 14.60% for the three months ended September 30, 2023. Total assets increased $145.0 million, or 4.1%, to $3.68 billion for the quarter ended September 30, 2023, compared to $3.54 billion at June 30, 202
Second Quarter 2023 Highlights: Net income of $12.9 million, or $0.95 per diluted common share, for the three months ended June 30, 2023, compared to $12.4 million, or $0.91 per diluted common share for the three months ended March 31, 2023. Return on average assets ("ROA") of 1.52% for the three months ended June 30, 2023.Return on average equity ("ROE") of 19.53% for the three months ended June 30, 2023. Total assets increased $84.3 million, or 2.4%, to $3.54 billion for the quarter ended June 30, 2023, compared to $3.45 billion at March 31, 2023.Loan growth, net of deferred fees of $170.3 million, or 6.0%, to $3.01 billion for the quarter ended June 30, 2023.
First Quarter 2023 Highlights: Quarterly net income of $12.4 million, or $0.91 per diluted common share, for the three months ended March 31, 2023, compared to $13.1 million, or $0.96 per diluted common share for the three months ended December 31, 2022.Total assets increased $306.6 million, or 9.7%, to $3.45 billion for the quarter ended March 31, 2023, compared to $3.14 billion at December 31, 2022.Loan growth of $209.9 million, or 8.0%, to $2.84 billion for the three months ended March 31, 2023. CCBX loans increased $153.7 million, or 15.2%, to $1.17 billion.Community bank loans increased $56.3 million, or 3.5%, to $1.67 billion. PPP loans decreased $0.9 million, or 19.3%, to $3.8 milli
Fourth Quarter 2022 Highlights: Quarterly net income of $13.1 million, or $0.96 per diluted common share, for the three months ended December 31, 2022, compared to $11.1 million, or $0.82 per diluted common share for the three months ended September 30, 2022.Total assets increased $10.7 million, or 0.3%, to $3.14 billion for the quarter ended December 31, 2022, compared to $3.13 billion at September 30, 2022.Loan growth of $119.4 million, or 4.8%, to $2.63 billion for the three months ended December 31, 2022. CCBX loans increased $96.9 million, or 10.6%, to $1.0 billion.Community bank loans increased $22.4 million, or 1.4%, to $1.61 billion. PPP loans decreased $1.1 million, or 18.9%, to $
Third Quarter 2022 Highlights: Second consecutive quarter of record net income. Quarterly net income of $11.1 million, or $0.82 per diluted common share, for the three months ended September 30, 2022, compared to $10.2 million, or $0.76 per diluted common share for the three months ended June 30, 2022.Total assets increased $164.0 million, or 5.5%, to $3.13 billion for the quarter ended September 30, 2022, compared to $2.97 billion at June 30, 2022.Loan growth of $173.5 million, or 7.4%, to $2.51 billion for the three months ended September 30, 2022. CCBX loans increased $111.6 million, or 13.9%, to $915.6 million.Community bank loans increased $61.9 million, or 4.0%, to $1.59 billion. PPP
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