---
schema_version: "secwatch.filing_event.v1"
accession: "0001437958-25-000056"
form_type: "8-K"
ticker: "CCB"
cik: "0001437958"
company_name: "COASTAL FINANCIAL CORP"
filed_at: "2025-03-17T23:59:59+00:00"
generated_at: "2026-05-24T15:25:00.273066+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Coastal Financial restates 2023-2024 financials; fintech loan errors, no NI impact

## Summary
- Restatement covers FY2023 and Q1-Q3 2024; adjustments to interest income, BaaS loan expense, and balance sheet items.
- Balance sheet adjustments: assets overstated by $3.4M (Dec 2023), $2.2M (Mar 2024), $2.0M (Jun 2024), $1.3M (Sep 2024).
- No impact on net income or EPS for any affected period.
- Material weaknesses in internal control over financial reporting identified as of Dec 31, 2023 and Dec 31, 2024.
- Company plans to file restated financials in 2024 Form 10-K as soon as practicable.

## SEC filing metadata
- accession: 0001437958-25-000056
- form_type: 8-K
- ticker: CCB
- cik: 0001437958
- company_name: COASTAL FINANCIAL CORP
- filed_at: 2025-03-17T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 4.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1437958/000143795825000056/0001437958-25-000056-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1437958/000143795825000056/ck1437958-20250314.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437958-25-000056
- JSON: https://secwatch.observer/filing/0001437958-25-000056.json
- Plain text: https://secwatch.observer/filing/0001437958-25-000056.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.