{"schema_version":"secwatch.filing_event.v1","accession":"0001437958-22-000028","form_type":"8-K","ticker":"CCB","cik":"0001437958","company_name":"COASTAL FINANCIAL CORP","filed_at":"2022-11-01T23:59:59+00:00","discovered_at":"2026-05-14T18:03:50.662310+00:00","generated_at":"2026-06-22T17:54:07.482579+00:00","sec_items":["1.01","2.03","7.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Coastal Financial closes $20M private placement of 7% fixed-to-floating subordinated notes due 2032","bullets":["Issued $20M aggregate principal of 7.00% Fixed-to-Floating Rate Subordinated Notes due November 1, 2032.","Interest fixed at 7.00% for first five years, then resets quarterly to 3-month SOFR plus 290 bps.","Net proceeds used for general corporate purposes; notes are unsecured, subordinated, and not FDIC-insured.","May be redeemed in whole or part on or after November 1, 2027, or upon certain capital/tax events.","Keefe, Bruyette & Woods served as sole placement agent; offering exempt from registration."],"urls":{"canonical":"https://secwatch.observer/filing/0001437958-22-000028","json":"https://secwatch.observer/filing/0001437958-22-000028.json","markdown":"https://secwatch.observer/filing/0001437958-22-000028.md","text":"https://secwatch.observer/filing/0001437958-22-000028.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1437958/000143795822000028/0001437958-22-000028-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1437958/000143795822000028/ck1437958-20221101.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-22T17:54:07.482579+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"ce45b26906a67dc98e30607833bf619a1ac3d669","claim":"COASTAL FINANCIAL CORP incurred senior notes of $20 million at 7.00% per annum maturing November 1, 2032.","evidence_excerpt":"the Company issued and sold $20 million in aggregate principal amount of its 7.00% Fixed-to-Floating Rate Subordinated Notes due November 1, 2032 (the “Notes”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1437958/000143795822000028/0001437958-22-000028-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$20 million"},{"label":"Rate","value":"7.00% per annum"},{"label":"Maturity","value":"November 1, 2032"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"3bb8f76d73179c4b86c9d2fd284023c8941281dc","claim":"COASTAL FINANCIAL CORP entered into Subordinated Note Purchase Agreements with certain qualified institutional buyers valued at $20 million (effective 2022-11-01).","evidence_excerpt":"On November 1, 2022, Coastal Financial Corporation, a Washington corporation (the “Company”) entered into Subordinated Note Purchase Agreements (the “Note Purchase Agreements”) with certain qualified institutional buyers pursuant to which the Company issued and sold $20 million in aggregate principal amount of its 7.00% Fixed-to-Floating Rate Subordinated Notes due November 1, 2032","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1437958/000143795822000028/0001437958-22-000028-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"certain qualified institutional buyers"},{"label":"Value","value":"$20 million"},{"label":"Effective","value":"2022-11-01"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}