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:  0001437958-24-000104
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Coastal Financial Q2 net income $11.6M ($0.84 EPS), loans up 4% QoQ, NIM expands to 7.13%
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- Net income $11.6M ($0.84 diluted EPS) vs $6.8M ($0.50) in Q1; down from $12.9M ($0.95) YoY.
- Total loans, net of deferred fees, increased $126.9M (4.0%) to $3.33B; CCBX loans up $98.1M (7.4%).
- Net interest margin expanded to 7.13% from 6.78% in Q1; yield on loans 11.23% vs 10.85%.
- Deposits grew $80.5M (2.3%) to $3.54B; community bank deposits up 3.7% after two quarters of decline.
- Sold $155.2M in CCBX loans; reduced credit exposure from 10% to 5% effective April 1.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1437958/000143795824000104/0001437958-24-000104-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1437958/000143795824000104/ck1437958-20240729.htm
  HTML page:      https://secwatch.observer/filing/0001437958-24-000104

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