Coastal Financial Q4 2024 EPS $0.94, net income $13.4M, completes $98M equity raise

COASTAL FINANCIAL CORP

2024-FY EPS reported $3.26

Diluted EPS $0.94 vs $0.97 LQ and $0.66 PYQ; net income $13.4M, up 48.3% YoY.
Completed $98.0M equity raise at $71/share; tangible book value $29.37, up 19.8% LQ.
Core net revenue $47.8M, up 4.8% LQ; revenue $143.3M, down 5.9% LQ due to lower credit enhancement revenue.
Sold $845.5M in CCBX loans, mostly credit card receivables; total credit cards with fee potential: 182,449 vs 81,426 at Sept 30.
Community bank net charge-off ratio 0.03% YTD; loans grew 2.0% to $3.49B.

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