secwatch.observer — SEC 8-K summary
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Issuer:     COASTAL FINANCIAL CORP (CCB)
CIK:        0001437958
Form:       8-K
Filed at:   2022-10-27T23:59:59+00:00
Accession:  0001437958-22-000015
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1437958/000143795822000015/0001437958-22-000015-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1437958/000143795822000015/ck1437958-20221027.htm
  HTML page:      https://secwatch.observer/filing/0001437958-22-000015

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