Coastal Financial Q4 net income $13.1M ($0.96 EPS); loans +4.8% to $2.63B

COASTAL FINANCIAL CORP

2022-FY EPS reported $3.01

Net income $13.1M ($0.96 diluted EPS) vs $11.1M ($0.82) in Q3 2022 and $7.3M ($0.57) in Q4 2021.
Total assets $3.14B; loan growth $119.4M (4.8%) QoQ; CCBX loans up 10.6% to $1.0B.
Deposits decreased 0.7% to $2.82B; community bank deposits down 5.9%, CCBX up 6.4%.
Net interest margin 6.96% vs 6.58% in Q3; total revenue up 15.2% QoQ.
Completed $20M subordinated notes offering Nov 1, 2022; FY 2022 net income $40.6M ($3.01 EPS), up 50.4% YoY.

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 0.95

COASTAL FINANCIAL CORP reported the three months ended December 31, 2022 results: net income $13.1 million, EPS $0.96 per diluted common share.

Period: the three months ended December 31, 2022
Net income: $13.1 million
EPS: $0.96 per diluted common share
Result: reported results

Exact text from the filing

Quarterly net income of $13.1 million, or $0.96 per diluted common share, for the three months ended December 31, 2022

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

COASTAL FINANCIAL CORP reported the year ended December 31, 2022 results: net income $40.6 million, EPS $3.01 per diluted common share.

Period: the year ended December 31, 2022
Net income: $40.6 million
EPS: $3.01 per diluted common share
Result: reported results

Exact text from the filing

Net income increased $13.6 million, or 50.4%, to $40.6 million for the year ended December 31, 2022, or $3.01 per diluted common share

View on SEC.gov

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COASTAL FINANCIAL CORP filing history →

Source: SEC EDGAR

accession 0001437958-23-000024

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