secwatch.observer — SEC 8-K summary
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Issuer:     COASTAL FINANCIAL CORP (CCB)
CIK:        0001437958
Form:       8-K
Filed at:   2024-07-29T23:59:59+00:00
Accession:  0001437958-24-000102
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Coastal Financial Q2 net income $11.6M, EPS $0.84; BaaS fee income up 54% YoY
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- Q2 net income $11.6M ($0.84 diluted EPS) vs Q1 $6.8M ($0.50).
- Total assets $3.96B, loans $3.33B, deposits $3.54B; growth of 2.5%, 4.0%, 2.3% QoQ.
- BaaS program fee income $6.1M in Q2, up 54.4% YoY; CCBX has 19 active partners with 2 more in pipeline.
- Efficiency ratio 43.19%; ROAA 1.21%; nonaccrual loans 0.24% of total loans; capital ratios solid.
- Uninsured deposits $532.9M fully covered by $1.19B cash & borrowing capacity (32.1% of deposits).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1437958/000143795824000102/0001437958-24-000102-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1437958/000143795824000102/ck1437958-20240729.htm
  HTML page:      https://secwatch.observer/filing/0001437958-24-000102

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