secwatch.observer — SEC 8-K summary
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Issuer:     COASTAL FINANCIAL CORP (CCB)
CIK:        0001437958
Form:       8-K
Filed at:   2025-01-28T23:59:59+00:00
Accession:  0001437958-25-000006
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Coastal Financial Q4 net income $13.4M ($0.94 EPS); completes $98M capital raise
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- Net income $13.4M ($0.94 diluted EPS) vs $13.5M ($0.97) in Q3 2024; full year $45.2M vs $44.6M in 2023.
- Completed $98M common equity raise at $71/share in Q4; CET1 risk-based capital ratio improved to 12.04% from 9.24%.
- Sold $845.5M in CCBX loans in Q4 while net loans grew $67.7M; BaaS program fee income rose 56.9% YoY to $25.6M.
- Noninterest expense decreased 2.1% QoQ to $64.2M; provision for credit losses was $61.9M, with net charge-offs annualized at 6.51%.
- Credit card accounts with fee earning potential reached 182,449, up 101,023 from Q3 2024; three signed LOIs for new CCBX partners.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1437958/000143795825000006/0001437958-25-000006-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1437958/000143795825000006/ck1437958-20250128.htm
  HTML page:      https://secwatch.observer/filing/0001437958-25-000006

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