---
schema_version: "secwatch.filing_event.v1"
accession: "0001437958-23-000098"
form_type: "8-K"
ticker: "CCB"
cik: "0001437958"
company_name: "COASTAL FINANCIAL CORP"
filed_at: "2023-07-28T23:59:59+00:00"
generated_at: "2026-06-12T22:55:14.997108+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Coastal Financial Q2 net income $12.9M; loan growth 6%, NIM expands to 7.58%

## Summary
- Net income of $12.9M, EPS $0.95, compared to $12.4M and $0.91 in Q1 2023.
- Total assets $3.54B, up 2.4% QoQ; loans $3.01B, up 6.0%; deposits $3.16B, up 2.2%.
- Net interest margin 7.58% vs 7.15% prior quarter; cost of deposits rose to 2.72%.
- BaaS income increased to $56.5M from $47.9M in Q1; 22 active relationships.
- Legal & professional fees elevated due to CCBX expansion; expected to decline by Q1 2024.

## SEC filing metadata
- accession: 0001437958-23-000098
- form_type: 8-K
- ticker: CCB
- cik: 0001437958
- company_name: COASTAL FINANCIAL CORP
- filed_at: 2023-07-28T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1437958/000143795823000098/0001437958-23-000098-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1437958/000143795823000098/ck1437958-20230727.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437958-23-000098
- JSON: https://secwatch.observer/filing/0001437958-23-000098.json
- Plain text: https://secwatch.observer/filing/0001437958-23-000098.txt

## Key facts
- Earnings Releases
  COASTAL FINANCIAL CORP reported the quarter ended June 30, 2023 results: net income $12.9 million, EPS $0.95 per diluted common share.
  - Period: the quarter ended June 30, 2023
  - Net income: $12.9 million
  - EPS: $0.95 per diluted common share
  - Result: reported results
  source text: On July 27, 2023 Coastal Financial Corporation (the “Company”) issued a press release announcing its results of operations and financial condition for the fiscal quarter ended June 30, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437958/000143795823000098/0001437958-23-000098-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.