Coastal Financial Corporation Stock News

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 gran...

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 ...

Based on Washington's economy, I'm expecting Coastal Financial's provision expense for loan losses to remain elevated. Credit demand will most probably remain stable, which will drive both non-interest income and net interest income. The net interest income will also receive support from rate cuts because CCB's books are liability-sensitive, meaning funding costs will fall more than asset yields.

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...

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...

Coastal Financial's CCBX segment leverages fintech partnerships for banking services but suffers from low margins and substandard underwriting, impacting profitability and asset quality. Despite strong loan growth, Coastal Financial's increased risk appetite and poor asset quality have led to significant provisions for credit losses and declining net income. The market overvalues Coastal Financ...