{"schema_version":"secwatch.filing_event.v1","accession":"0001437958-24-000069","form_type":"8-K","ticker":"CCB","cik":"0001437958","company_name":"COASTAL FINANCIAL CORP","filed_at":"2024-04-29T23:59:59+00:00","discovered_at":"2026-05-14T18:03:18.427072+00:00","generated_at":"2026-06-03T05:29:03.129191+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Coastal Financial Q1 net income $6.8M ($0.50 EPS), down from $0.66 in Q4; $2.3M unanticipated expenses","bullets":["Net income fell to $6.8M vs $9.0M in Q4 2023 and $12.4M in Q1 2023; ROA 0.73% vs 0.97% QoQ.","Unanticipated expenses of $2.3M net of tax included audit/accounting $849k, contract termination $600k, realignment $343k.","Total loans grew 5.7% to $3.20B; CCBX loans sold $100.5M during quarter to reduce credit risk.","CCBX portfolio loss exposure reduced from 10% to 5% effective April 1, 2024.","Net interest margin improved to 6.78% from 6.61% QoQ; cost of deposits rose to 3.49% from 3.36%."],"urls":{"canonical":"https://secwatch.observer/filing/0001437958-24-000069","json":"https://secwatch.observer/filing/0001437958-24-000069.json","markdown":"https://secwatch.observer/filing/0001437958-24-000069.md","text":"https://secwatch.observer/filing/0001437958-24-000069.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1437958/000143795824000069/0001437958-24-000069-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1437958/000143795824000069/ck1437958-20240429.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-03T05:29:03.129191+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"c1223d26b96eb8ca2301666659f171934d346fdc","claim":"COASTAL FINANCIAL CORP reported the quarter ended March 31, 2024 results: revenue $60,936, net income $6.8 million, EPS $0.50 per diluted common share.","evidence_excerpt":"Three Months Ended Non-GAAP Reconciliation of Unanticipated Expenses March 31, 2024 (dollars in thousands; unaudited) Actual Unanticipated Expenses Adjusted Net interest income $ 60,936 $ — $ 60,936 Provision for credit losses (83,158) (1,096) (82,062) Noninterest income 86,955 — 86,955 Noninterest expense (1) (56,018) (1,915) (54,103) Income before provision for","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1437958/000143795824000069/0001437958-24-000069-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the quarter ended March 31, 2024"},{"label":"Revenue","value":"$60,936"},{"label":"Net income","value":"$6.8 million"},{"label":"EPS","value":"$0.50 per diluted common share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}