secwatch.observer — SEC 8-K summary
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Issuer:     COASTAL FINANCIAL CORP (CCB)
CIK:        0001437958
Form:       8-K
Filed at:   2023-04-28T23:59:59+00:00
Accession:  0001437958-23-000066
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Coastal Financial Q1 net income $12.4M ($0.91 EPS); assets up 9.7% to $3.45B
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- Net income $12.4M vs $13.1M in Q4 2022; diluted EPS $0.91 vs $0.96.
- Loans grew $209.9M (8.0%) to $2.84B; CCBX loans up $153.7M (15.2%).
- Deposits up $277.7M (9.9%) to $3.10B; uninsured deposits fell to 24.8% from 29.7%.
- Net interest margin 7.15% vs 6.96% prior Q; cost of deposits 2.13%.
- Noninterest income $49.3M (+$6.5M QoQ) driven by BaaS credit enhancements.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1437958/000143795823000066/0001437958-23-000066-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1437958/000143795823000066/ck1437958-20230427.htm
  HTML page:      https://secwatch.observer/filing/0001437958-23-000066

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer