Coastal Financial Q4 net income $9.0M ($0.66 EPS), down sequentially; NIM 6.61%

COASTAL FINANCIAL CORP

2023-FY EPS reported $3.27

Q4 net income $9.0M ($0.66 diluted EPS) vs Q3 $10.3M ($0.75) and Q4 2022 $13.1M ($0.96).
Full-year 2023 net income $44.6M ($3.27), up from $40.6M ($3.01) in 2022.
Net interest margin 6.61% (Q4) vs 7.10% (Q3) and 6.96% (Q4 2022); cost of deposits 3.36% (up from 3.14%).
Sold $125.1M in CCBX loans during Q4 to reduce credit risk; expects additional sales in coming months.
Total assets $3.75B (+2% QoQ), deposits $3.36B (+2.1%); uninsured deposits 16.6% of total.

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 0.9

COASTAL FINANCIAL CORP reported the three months ended December 31, 2023 results: net income $9.0 million, EPS $0.66 per diluted common share.

Period: the three months ended December 31, 2023
Net income: $9.0 million
EPS: $0.66 per diluted common share
Result: reported results

Exact text from the filing

Net income of $9.0 million, or $0.66 per diluted common share, for the three months ended December 31, 2023

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

COASTAL FINANCIAL CORP reported the year ended December 31, 2023 results: net income $44.6 million, EPS $3.27 per diluted common share.

Period: the year ended December 31, 2023
Net income: $44.6 million
EPS: $3.27 per diluted common share
Result: reported results

Exact text from the filing

Net income of $44.6 million, or $3.27 per diluted common share, for the year ended December 31, 2023

View on SEC.gov

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COASTAL FINANCIAL CORP filing history →

Source: SEC EDGAR

accession 0001437958-24-000023

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