Coastal Financial Q3 net income $11.1M ($0.82 EPS), second consecutive record quarter

COASTAL FINANCIAL CORP

2022-Q3 EPS reported $2.04

Net income $11.1M ($0.82 diluted EPS) vs $10.2M ($0.76) in Q2 2022 and $6.7M ($0.54) in Q3 2021.
Total assets $3.13B (+5.5% from Q2); loans $2.51B (+7.4% driven by CCBX growth of $111.6M).
Net interest margin 6.58% (up from 5.66% in Q2); yield on loans 8.46%.
CCBX segment loans grew 13.9% to $915.6M; deposits grew 12.8% to $1.20B.
Noninterest income $34.4M, mainly from BaaS credit/fraud enhancements; noninterest expense $51.1M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

COASTAL FINANCIAL CORP reported the fiscal quarter ended September 30, 2022 results: net income $11.1 million, or $0.82 per diluted common share, EPS $0.82 per diluted common share.

Period: the fiscal quarter ended September 30, 2022
Net income: $11.1 million, or $0.82 per diluted common share
EPS: $0.82 per diluted common share
Result: reported results

Exact text from the filing

Coastal Financial Corporation (the “Company”) issued a press release announcing its results of operations and financial condition for the fiscal quarter ended September 30, 2022

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COASTAL FINANCIAL CORP filing history →

Source: SEC EDGAR

accession 0001437958-22-000015

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