secwatch.observer — SEC 8-K summary
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Issuer:     COASTAL FINANCIAL CORP (CCB)
CIK:        0001437958
Form:       8-K
Filed at:   2024-01-30T23:59:59+00:00
Accession:  0001437958-24-000023
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1437958/000143795824000023/0001437958-24-000023-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1437958/000143795824000023/ck1437958-20240130.htm
  HTML page:      https://secwatch.observer/filing/0001437958-24-000023

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