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:  0001437958-25-000009
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1437958/000143795825000009/0001437958-25-000009-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1437958/000143795825000009/ck1437958-20250128.htm
  HTML page:      https://secwatch.observer/filing/0001437958-25-000009

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