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COASTAL FINANCIAL CORP
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Last updated Oct 16, 2026.
Overview
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
BaaS Indemnification Income brought in 85% of the revenue COASTAL FINANCIAL CORP broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| BaaS Indemnification Income | $184.9M | $282.7M | $195.7M |
| BaaS Program Income | $13.2M | $20.1M | $29.5M |
| Interchange Income | $2.2M | $2.0M | $1.8M |
| Financial Service, Other | $323.0K | $692.0K | $1.3M |
| Deposit Account Other | $967.0K | $1.1M | $1.0M |
| Merchant Service Fees | $498.0K | $487.0K | $495.0K |
| Deposit Account Overdraft Fees | $213.0K | $198.0K | $207.0K |
Business segments
Indemnifications brought in 87% of the revenue COASTAL FINANCIAL CORP broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Indemnifications | $184.9M | $282.7M | $195.7M |
| Baa S Program Fees | $13.2M | $20.1M | $29.5M |
Financial statements
Every line of the income statement in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Interest and fees on loans | $397.6M | $372.0M | $304.3M |
| Interest on interest earning deposits with other banks | $29.0M | $21.3M | $15.3M |
| Interest on investment securities | $2.5M | $3.1M | $3.2M |
| Dividends on other investments | $531.0K | $435.0K | $387.0K |
| Total interest income | $429.6M | $396.8M | $323.2M |
| Interest on deposits | $116.9M | $120.9M | $89.0M |
| Interest on borrowed funds | $2.6M | $2.8M | $2.6M |
| Total interest expense | $119.6M | $123.7M | $91.6M |
| Net interest income | $310.1M | $273.0M | $231.6M |
| PROVISION FOR CREDIT LOSSES | $192.6M | $277.6M | $184.0M |
| Net interest income/(expense) after provision for credit losses | $117.4M | -$4.6M | $47.6M |
| Service charges and fees | $3.6M | $3.7M | $3.9M |
| Loan referral fees | $0 | $168.0K | $683.0K |
| Gain on sales of loans, net | $0 | $0 | $253.0K |
| Unrealized gain (loss) on equity securities, net | -$414.0K | $27.0K | $279.0K |
| Other income | $3.3M | $1.5M | $884.0K |
| Noninterest income, excluding BaaS program income and BaaS indemnification income | $6.5M | $5.5M | $6.0M |
| Total noninterest income | $231.6M | $308.2M | $204.1M |
| Salaries and employee benefits | $85.8M | $69.9M | $66.5M |
| Occupancy | $4.0M | $3.9M | $4.2M |
| Data processing and software licenses | $23.5M | $15.5M | $9.3M |
| Legal and professional expenses | $20.3M | $15.5M | $14.8M |
| Point of sale expense | $350.0K | $325.0K | $481.0K |
| Excise taxes | $2.9M | $1.2M | $2.0M |
| "Federal Deposit Insurance Corporation (""FDIC"") assessments" | $3.2M | $2.9M | $2.5M |
| Director and staff expenses | $2.7M | $2.1M | $2.2M |
| Marketing | $631.0K | $162.0K | $517.0K |
| Other expense | $7.5M | $6.5M | $5.2M |
| Noninterest expense, excluding BaaS loan and BaaS fraud expense | $150.7M | $117.9M | $107.7M |
| BaaS loan and fraud expense | $137.1M | $128.4M | $86.9M |
| Total noninterest expense | $287.8M | $246.3M | $194.6M |
| Income before provision for income taxes | $61.2M | $57.3M | $57.1M |
| PROVISION FOR INCOME TAXES | $14.3M | $12.1M | $12.6M |
| NET INCOME | $47.0M | $45.2M | $44.6M |
| Basic earnings per common share (in usd per share) | $3.12 | $3.35 | $3.36 |
| Diluted earnings per common share (in usd per share) | $3.06 | $3.26 | $3.27 |
| Basic (in shares) | 15.1M shares | 13.5M shares | 13.3M shares |
| Diluted (in shares) | 15.4M shares | 13.9M shares | 13.6M shares |
Every line of the balance sheet in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and due from banks | $34.2M | $36.5M | |
| Interest earning deposits with other banks | $702.7M | $416.0M | |
| Investment securities, available-for-sale, at fair value | $29.0K | $35.0K | |
| Investment securities, held-to-maturity, at amortized cost | $48.2M | $47.3M | |
| Other investments | $12.8M | $10.8M | |
| Loans held for sale | $71.2M | $20.6M | |
| Loans receivable | $3.7B | $3.5B | |
| Allowance for credit losses | -$169.5M | -$177.0M | -$117.4M |
| Total loans receivable, net | $3.6B | $3.3B | |
| CCBX credit enhancement asset | $177.7M | $181.9M | |
| CCBX receivable | $23.0M | $14.1M | |
| Premises and equipment, net | $29.3M | $27.4M | |
| Lease right-of-use assets | $4.8M | $5.2M | |
| Accrued interest receivable | $18.6M | $21.1M | |
| Bank-owned life insurance, net | $13.9M | $13.4M | |
| Deferred tax asset, net | $0 | $3.6M | |
| Intangible assets, net | $4.5M | $0 | |
| Other assets | $20.3M | $13.6M | |
| Total assets | $4.7B | $4.1B | |
| Deposits | $4.1B | $3.6B | |
| Principal amount $45,000 (less unamortized debt issuance costs of $557 and $707) at December 31, 2025 and December 31, 2024, respectively | $44.4M | $44.3M | |
| Principal amount $3,609 (less unamortized debt issuance costs of $16 and $18 at December 31, 2025 and December 31, 2024, respectively) | $3.6M | $3.6M | |
| Deferred compensation | $267.0K | $332.0K | |
| Accrued interest payable | $1.4M | $962.0K | |
| Lease liabilities | $5.0M | $5.4M | |
| CCBX payable | $27.5M | $29.2M | |
| Deferred tax liability, net | $853.0K | $0 | |
| Other liabilities | $23.2M | $13.4M | |
| Total liabilities | $4.3B | $3.7B | |
| Authorized: 25,000,000 shares at December 31, 2025 and December 31, 2024; issued and outstanding: zero shares at December 31, 2025 and December 31, 2024 | $0 | $0 | |
| Authorized: 300,000,000 shares at December 31, 2025 and December 31, 2024; 15,140,192 shares at December 31, 2025 issued and outstanding and 14,935,298 shares at December 31, 2024 issued and outstanding | $233.4M | $228.2M | |
| Retained earnings | $257.5M | $210.5M | |
| Accumulated other comprehensive loss, net of tax | -$1.0K | -$2.0K | |
| Total shareholders equity | $491.0M | $438.7M | $295.0M |
| Total liabilities and shareholders equity | $4.7B | $4.1B | |
| Preferred stock, no par value (in usd per share) | $0 | $0 | |
| Preferred stock, shares authorized (in shares) | 25.0M shares | 25.0M shares | |
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | |
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | |
| Common stock, no par value (in usd per share) | $0 | $0 | |
| Common stock, shares authorized (in shares) | 300.0M shares | 300.0M shares | |
| Common stock, shares issued (in shares) | 15.1M shares | 14.9M shares | |
| Common stock, shares outstanding (in shares) | 15.1M shares | 14.9M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $47.0M | $45.2M | $44.6M |
| Provision for credit losses | $192.6M | $277.6M | $184.0M |
| Depreciation and amortization | $6.5M | $4.6M | $2.3M |
| Loss on disposition of fixed assets | $26.0K | $0 | $39.0K |
| Decrease in operating lease right-of-use assets | $899.0K | $835.0K | $833.0K |
| Decrease in operating lease liabilities | -$915.0K | -$848.0K | -$857.0K |
| Gain on sales of loans | $0 | $0 | -$253.0K |
| Net amortization on investment securities | $13.0K | $5.0K | -$25.0K |
| Unrealized holding loss (gain) on equity investment, net | $414.0K | -$27.0K | -$279.0K |
| Stock-based compensation | $8.6M | $4.8M | $3.7M |
| Increase in bank-owned life insurance value | -$516.0K | -$485.0K | $27.0K |
| Deferred tax expense | $4.5M | $138.0K | $13.9M |
| Net change in CCBX receivable | -$10.1M | -$5.0M | $1.3M |
| Net change in CCBX credit enhancement asset | $4.2M | -$69.0M | -$55.1M |
| Net change in CCBX payable | -$1.7M | -$1.1M | $9.9M |
| Net change in other assets and liabilities | $3.0M | $3.1M | -$12.6M |
| Total adjustments | $207.6M | $214.6M | $147.0M |
| Net cash provided by operating activities | $254.6M | $259.8M | $191.5M |
| Purchase of investment securities held-to-maturity | -$5.1M | $0 | -$50.2M |
| Net (increase) decrease in FRB and FHLB securities | -$1.9M | -$475.0K | $730.0K |
| Change in equity investments, net | -$556.0K | -$71.0K | -$123.0K |
| Principal paydowns of investment securities available-for-sale | $7.0K | $8.0K | $9.0K |
| Principal paydowns of investment securities held-to-maturity | $4.2M | $3.6M | $417.0K |
| Maturities and calls of investment securities available-for-sale | $0 | $100.0M | $250.0K |
| Purchase of bank owned life insurance | -$19.0K | -$20.0K | -$230.0K |
| Payments To Acquire Assets, Net Of Cash Acquired | -$2.4M | $0 | $0 |
| Proceeds from sales of loans held for sale | $6.6B | $1.5B | $600.2M |
| Investments in loans receivable | $26.3M | -$202.0M | -$91.5M |
| Increase in loans receivable, net | -$7.2B | -$2.0B | -$1.0B |
| Purchases of premises and equipment, net | -$8.4M | -$9.9M | -$6.2M |
| Net cash used by investing activities | -$525.7M | -$608.6M | -$594.0M |
| Net increase in demand deposits, money market, and savings | $564.1M | $225.8M | $553.9M |
| Net decrease in time deposits | -$5.3M | -$811.0K | -$11.1M |
| Proceeds from exercise of stock options, net of shares withheld to cover | $104.0K | $1.4M | $618.0K |
| Net cash for shares held to cover on restricted stock vesting | -$3.5M | $0 | $0 |
| Proceeds from public offering, expense true-up | $82.0K | $91.8M | $0 |
| Net cash provided by financing activities | $555.5M | $318.2M | $543.5M |
| NET CHANGE IN CASH, DUE FROM BANKS AND RESTRICTED CASH | $284.5M | -$30.6M | $141.0M |
| Interest paid | $119.1M | $123.7M | $91.4M |
| Income taxes paid | $9.5M | $10.5M | $6.8M |
| Fair value adjustment of securities available-for-sale, gross | $0 | $535.0K | $2.4M |
| Lease liabilities arising from obtaining right-of-use assets | $501.0K | $122.0K | $1.7M |
| Transfer from loans to loans held for sale | $6.7B | $1.5B | $599.9M |
| Settlement of receivables as consideration in asset acquisition | $2.2M | $0 | $0 |
Recent filings
- Oct 1, 20264
- Sep 28, 20268-K
- Sep 1, 20264
- Aug 26, 20263
- Aug 7, 202610-Q
- Aug 7, 20264
- Aug 7, 20264
- Aug 7, 20264
- Aug 4, 20264
- Aug 4, 20264
- Aug 3, 2026144
- Jul 30, 20268-K
- Jul 30, 20268-K
- Jul 30, 20268-K
- Jul 23, 20268-K
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
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