---
schema_version: "secwatch.filing_event.v1"
accession: "0001437958-23-000109"
form_type: "8-K"
ticker: "CCB"
cik: "0001437958"
company_name: "COASTAL FINANCIAL CORP"
filed_at: "2023-10-27T23:59:59+00:00"
generated_at: "2026-06-09T06:53:05.088492+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Coastal Financial Q3 net income $10.3M ($0.75 EPS), down 20% QoQ

## Summary
- Net income $10.3M ($0.75 diluted EPS) vs $12.9M ($0.95) in Q2 2023 and $11.1M ($0.82) a year ago.
- Deposits up $127.1M (+4%) to $3.29B; uninsured deposits down to 18.2% from 20%. Liquidity $1.05B covers uninsured deposits.
- Sells $320.9M in CCBX loans during Q3; CCBX loans decrease $112.1M vs community bank loans increase $71.6M.
- Net interest margin falls to 7.10% from 7.58% QoQ; cost of deposits rises to 3.14% from 2.72%.
- Management expects lower earnings short term as it optimizes CCBX loan portfolio with enhanced credit standards.

## SEC filing metadata
- accession: 0001437958-23-000109
- form_type: 8-K
- ticker: CCB
- cik: 0001437958
- company_name: COASTAL FINANCIAL CORP
- filed_at: 2023-10-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1437958/000143795823000109/0001437958-23-000109-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1437958/000143795823000109/ck1437958-20231027.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437958-23-000109
- JSON: https://secwatch.observer/filing/0001437958-23-000109.json
- Plain text: https://secwatch.observer/filing/0001437958-23-000109.txt

## Key facts
- Earnings Releases
  COASTAL FINANCIAL CORP reported the quarter ended September 30, 2023 results: net income $10.3 million, EPS $0.75 per diluted common share.
  - Period: the quarter ended September 30, 2023
  - Net income: $10.3 million
  - EPS: $0.75 per diluted common share
  - Result: reported results
  source text: Quarterly net income for the third quarter of 2023 was $10.3 million, or $0.75 per diluted common share
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437958/000143795823000109/0001437958-23-000109-index.htm

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